"El Chapo Act", a brilliant idea from Senator Ted Cruz

U.S. Sen. Ted Cruz (R-Texas) today introduced the Ensuring Lawful Collection of Hidden Assets to Provide Order (EL CHAPO) Act.

The bill would reserve any amounts forfeited to the U.S. Government as a result of the criminal prosecution of “El Chapo” (formally named Joaquin Archivaldo Guzman Lorea) and other drug lords for border security assets and the completion of the wall along the U.S.-Mexico border.

The U.S. Government is currently seeking the criminal forfeiture of more than $14 billion in drug proceeds and illicit profits from El Chapo, the former leader of the Sinaloa drug cartel who was recently extradited to the U.S. to face criminal prosecution for numerous alleged drug-related crimes, including conspiracy to commit murder and money laundering.

“Fourteen billion dollars will go a long way toward building a wall that will keep Americans safe and hinder the illegal flow of drugs, weapons, and individuals across our southern border,” said Sen. Cruz. “Ensuring the safety and security of Texans is one of my top priorities.

We must also be mindful of the impact on the federal budget. By leveraging any criminally forfeited assets of El Chapo and his ilk, we can offset the wall’s cost and make meaningful progress toward achieving President Trump’s stated border security objectives.”

One cooperator, Juan Carlos Ramirez-Abadia, or “Chupeta,” 54, was a leading supplier of cocaine to Sinaloa and BLO through Colombia’s Norte del Valle cartel. He directed the production of business ledgers and was also prosecuted by Goldbarg. DEA agents helped obtain “the forfeiture of hundreds of millions of dollars” of Ramirez-Abadia’s purported billion-dollar fortune, U.S. authorities said when he was extradited in 2008 and remains under U.S. indictment…

Mayo’s son, Vicente Zambada Niebla, 41, agreed not to contest the forfeiture of nearly $1.4 billion — including cash, real estate, businesses, vehicles and other property — and cooperate with U.S. authorities while pending sentencing of 10 years to life in prison, a federal plea deal made public in 2014 in Chicago showed.

And then there are his relatives, who are living high off the hog.

Back in 2012 the U.S. Treasury Department put financial sanctions on El Chapo’s wife and son.