Accounts of ‘El Mayo’ Zambada’s Nephew Frozen Over Suspicious Financial Transactions

Now, take a look at this investigative report I’m presenting to you, because just a few days ago, we witnessed the Supreme Court of Justice of the Nation make a historic ruling regarding how the Financial Intelligence Unit can now operate—specifically, by freezing accounts—without the need for a judicial order. 

In this context, the discussion has a specific origin. It centers on a case involving Vicente Zambada—the nephew of “El Mayo”—stemming from multi-million-dollar financial operations that included suspicious deposits and transfers, which ultimately led to the freezing of his accounts. 

Janet López Ponce tells us exactly what he does for a living. “I am a farmer. I am a farmer—and a good one at that, gentlemen.” The story of the farmer who ended up moving millions in funds—in an implausible manner and without ever accounting for them to the authorities—played out once again, triggering alarm bells at the Financial Intelligence Unit. 

The strategy of “following the money trail” led investigators back to Sinaloa—and to trucks smelling of tomatoes, squash, chilies, and peppers—along with 4 million pesos and 21 million dollars in unexplained cash. 

The Supreme Court decided to abandon the so-called “Medina Mora jurisprudence,” under which any individual or company flagged for apparent money laundering could recover their bank accounts simply by arguing that no foreign authority was currently investigating them. 

Vicente Zambada—nephew of Ismael “El Mayo” Zambada (former leader of the Sinaloa Cartel, associate of Joaquín “El Chapo” Guzmán, and currently incarcerated in the United States)—has had his accounts frozen for five years due to suspicious financial activity. 

However, in his attempt to recover those accounts, he inadvertently paved the way for a new legal standard—one that now works to the detriment of his own company, as well as anyone else the Financial Intelligence Unit may add to its “Blocked Persons” list from this point forward. 

The Financial Intelligence Unit—an arm of the Secretariat of Finance and Public Credit—determined that the plaintiff company should be included on the “Blocked Persons” list after identifying a potential familial or operational link between the company’s legal representative (who also serves as its principal shareholder) and the leader of a criminal organization. 

WIP alerts were triggered just four years after Zambada began selling corn in a U.S. market. From 2013 to 2020, the UIF detected cash deposits and withdrawals—intended to obscure the origin and destination of the funds—as well as international transfers, amounting to irregularities totaling 4.1 million pesos and 21 million dollars. 

Vicente Zambada attempted to distance himself from his uncle, “El Mayo” Zambada, arguing that he resided in the United States and possessed valid documentation, such as a driver’s license—arguments the Court deemed insufficient. 

Consequently, although it has not yet been reported whether authorities have gathered additional evidence to file formal money laundering charges, the Zambada family’s accounts will remain frozen.

Source: Milenio