Bulk cash smugglers often charter bizjets available in the commercial market for criminal purposes. A Gulfstream G-III business jet, recently used by Texas Governor Rick Perry on the presidential campaign trail, was reportedly previously used to transport illicit bulk cash between Baltimore and Los Angeles. The jet, N213BA, is owned by Marquez Brothers, a California Mexican food company, but was operated by a private jet management services firm.
The pilot and other individuals were reportedly convicted of money laundering and conspiracy to distribute cocaine in California*. The negative publicity surrounding this information reminds us that bankers, and their clients, often need to perform due diligence on vendors, companies performing services, agents, and other individuals and entities, to avoid being associated unfairly with criminals and unsavoury activities.
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*United States vs. Ricky James Brascom et al, Case No.: 2;10-cr-01236 (CD Calif).
The pilot and other individuals were reportedly convicted of money laundering and conspiracy to distribute cocaine in California*. The negative publicity surrounding this information reminds us that bankers, and their clients, often need to perform due diligence on vendors, companies performing services, agents, and other individuals and entities, to avoid being associated unfairly with criminals and unsavoury activities.
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*United States vs. Ricky James Brascom et al, Case No.: 2;10-cr-01236 (CD Calif).
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