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HSI and IRS describe seizures, Operation Borrowed Time and a $400M timeshare fraud that allegedly funded CJNG
Summary
Homeland Security Investigations and IRS Criminal Investigation described seizures of currency, drugs and weapons and detailed Operation Borrowed Time, a cryptocurrency laundering probe. FBI and DOJ officials said a separate timeshare fraud scheme defrauded more than 6,000 Americans of roughly $400 million and helped finance cartel activity.
Homeland Security Investigations deputy Matthew Milholland said HSI investigations have disrupted weapons and logistics networks that support CJNG and reported recent seizures including bulk U.S. currency, metric tons of cocaine and hundreds of kilograms of methamphetamine. "To date, those efforts have resulted in the seizure of more than 6,000,000 in bulk US currency, 1,100 kilograms of cocaine, 94 kilograms of meth," Milholland said, listing the types of material taken from the networks.
Gary Shapley of IRS Criminal Investigation said Operation Borrowed Time identified cryptocurrency money laundering tied to call-center operations that prosecutors allege were used to extract hundreds of millions of dollars from U.S. seniors. "We're gonna find your funds," Shapley said, describing IRS CI's work tracing illicit proceeds and supporting prosecutions.
FBI Director Kesh Patel earlier summarized the fraud totals: "The funds they utilized and they scammed out of these call centers from senior citizens from across America totaled over $400,000,000." Officials said seizures and financial-tracing efforts aim to deprive CJNG of revenue streams and return funds to victims when possible.
