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LOS ANGELES (AP) — Federal authorities have arrested nine people and seized roughly $90 million in a crackdown on suspected drug money laundering in the fashion district of Los Angeles.
Thom Mrozek, a spokesman for the U.S. attorney's office in Los Angeles, says the raids came after three separate federal indictments in the biggest investigation to date into trade-based drug money laundering.
He says that of the roughly $90 million seized, $70 million was in cash.
Prosecutors say about 1,000 law enforcement agents raided dozens of businesses in the downtown fashion district early Wednesday as part of the investigation.
Authorities allege that individuals working with drug cartels arranged for cash to be delivered to businesses in Los Angeles for goods sold abroad to launder drug money.
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