Member Indicted, Wire Fraud, Money Laundering — Senior CJNG Member Indicted on Wire Fraud, Money Laundering, and Terrorism Charges for Operating Massive Timeshare Fraud Scheme | United States Justice Department.
Today’s significant disruption emphasizes the FBI’s determined resolve to not only eliminate any monetary source fueling criminal enterprises but also defend our nation against foreign adversaries.”“CJNG has repeatedly victimized our communities through widespread drug trafficking, ruthless violence, money laundering, fraud, and other criminal schemes. “This senior leader of a foreign terrorist organization reportedly defrauded innocent citizens to fuel terrorism against the American people,” said Attorney General Pamela Bondi. As part of the alleged scheme, timeshare owners, many of whom were residents and citizens of the United States, were fraudulently induced to pay
money up front either to sell or rent their timeshares under the pretext of fees and taxes, in exchange for false promises of receiving money later. Montero Pinzon and Arredondo Pinzon were each accused with alleged conspiracy to commit wire fraud and alleged conspiracy to commit money laundering. The CJNG cannot continue to operate with impunity — pocketing massive profits from narcotics trafficking and flat-out deception — which is why federal law enforcement will continue partnering in these investigations until this entire criminal organization is dismantled.”the charging documents state, CJNG has been
perpetrating an “advance fee” fraud alleged scheme targeting owners of timeshare properties since approximately 2012. Since approximately 2012, Montero Pinzon participated in the creation and management of a financial network for receiving and laundering funds obtained from victims of CJNG’s timeshare fraud alleged scheme. victims have reported losses of approximately $350 million attributable to timeshare fraud schemes in Mexico. On July 16, 2024, OFAC sanctioned Arredondo Pinzon for her role in CJNG’s timeshare fraud alleged scheme. “Terrorist cartels such as CJNG fund their activities not only through drug trafficking but also through complex fraud schemes, and