Bojun He, known as “El Chino,” was arrested on November 4 in Mexico City with $2 million and 43 million pesos in cash. Authorities identified him as the leader of a money-laundering network tied to the Unión Tepito cartel and linked to arms and human trafficking across Mexico. His capture underscores the role of Chinese brokers in laundering dirty money for Mexican cartels, a trend that has grown significantly in recent years.
The arrest echoes past cases, such as Tomoiyi Yu’s 2007 capture with over $200 million seized, and the sentencing of Zhen Li Ye Gon’s wife for organized crime and money laundering. Experts note that Chinese networks, often linked to triad groups, have become key players in laundering cartel profits due to their low rates and extensive trade ties with Mexico.
According to Víctor Sánchez of the Autonomous University of Coahuila, Chinese networks offer significant advantages, including the ability to disguise illegal operations as legal trade. The frequent shipments of Chinese goods to Mexico provide ample opportunities for laundering, making it nearly impossible to track. Additionally, Chinese brokers charge between 3% and 5% for their services, far lower than the 10% to 15% charged by other providers.
Pablo Pérez, an expert on money laundering, explains that these networks use methods like triangulation among China, Mexico, and the U.S., leveraging the informal banking system Fei Qian. Cartels sell drugs in the U.S., convert dollars to pesos, and use Chinese importers to launder funds through inflated invoices. Crypto assets like Bitcoin are also used to transfer value without detection.
Recent cases, such as the $500 million fine imposed on Bank of America for failing to detect transactions linked to Chinese networks, highlight the scale of the problem. Experts agree that money laundering is a booming business, with cartels relying on these networks to inject illicit funds into the legal economy, particularly in cosmopolitan cities like Mexico City.