McClain Announces Hearing on Chinese Money Laundering Operations Assisting Cartels, Killing Americans
WASHINGTON—Subcommittee on Health Care and Financial Services Chairwoman Lisa McClain (R-Mich.) will hold a hearing titled “China in Our Backyard: How Chinese Money Laundering Organizations Enrich the Cartels.” The subcommittee hearing will examine Chinese Money Laundering Organizations (MLOs) that engage in business with cartels to launder illicit funds raised through the deadly trafficking of narcotics such as fentanyl. Chinese MLOs also play a principal role in the production, financing, and infrastructure related to the cartels’ sourcing of illicit fentanyl and fentanyl-related compounds.
“President Biden’s border crisis is enriching China and the cartels as they partner together to traffic deadly fentanyl to the United States. Cartels are making millions as Chinese organized crime is laundering money and providing the precursor elements needed to produce, finance, and traffic narcotics moving across the border. Worst of all, the Biden Administration has the tools to dismantle these schemes yet has not done enough while the cartels continue to pump deadly fentanyl across the border into American communities. We have an obligation to hold the Biden Administration accountable for their inaction and seek solutions to break up Chinese MLOs,” said Subcommittee Chairwoman McClain.
WHAT: Hearing titled “China in Our Backyard: How Chinese Money Laundering Organizations Enrich the Cartels”
DATE: Wednesday, April 26, 2023
TIME: 2:00 p.m. ET
LOCATION: 2247 Rayburn House Office Building
WITNESSES:
- Mr. Christopher Urben, Former Assistant Special Agent in Charge, Special Operations Division, U.S. Drug Enforcement Administration
- Mr. Anthony Ruggiero, Former Deputy Assistant to the President, Senior Director for Counterproliferation and Biodefense, National Security Council—Executive Office of the President
The hearing will be open to the public and press and will be livestreamed online at https://oversight.house.gov/.