0:00
The U.S. Department of the Treasury has placed new sanctions on people accused of working with
0:04
a major Mexican cartel to scam Americans using timeshares. Four Mexicans and 13 Mexican companies face sanctions, accused of helping the cartel
0:16
de Jalisco Nueva Generación operate a timeshare fraud scheme. The scheme targeted U.S. timeshare
0:22
owners with English speakers posing as U.S.-based brokers, lawyers, sales reps, and more. Then they
0:29
would use various tactics to scam those owners out of money. The FBI says around 6,000 Americans
0:34
lost nearly $300 million between 2019 and 2023. So what did these new sanctions do
0:42
It's been known as in Colombia is a civil death, a muerte civil, wherein once you're on this list
0:51
you and your family can't use regular money with any business that does business with the United
0:56
States. And so you actually had cartel wives telling their husbands, well, you better figure
1:01
something out, go turn yourself in and get yourself off this list, because what good is all the money
1:05
if I can't put my kid in private school? Jones says it's been a bit harder to measure the impact
1:09
in Mexico as it was in Colombia, and the objective is the same. The idea is to make their money
1:16
useless, at least as it touches the U.S. banking system, financial system, any of that. And then
1:24
And anybody who does business with them then potentially also becomes a target there for the U.S. banking system
1:31
This is the latest step the Trump administration is using to target Mexican cartels
1:35
The administration is also using American troops at the U.S. southern border and considering strikes against the gangs inside Mexico
1:43
For Straight Arrow News, I'm Lauren Keenan. For more unbiased straight facts, download the Straight Arrow News app or visit san.com
