9 Arrests in Fashion Hub Money Laundering Probe

LOS ANGELES — Sep 10, 2014, 2:15 PM ET

Law enforcement agents leave a clothing store after a raid in the Los Angeles Fashion District Wednesday, Sept. 10, 2014. U.S. agents raided dozens of businesses in the fashion district of Los Angeles early Wednesday as part of an investigation into suspected money laundering done for Mexican drug cartels. (AP Photo/ Nick Ut )
The Associated Press


Federal authorities have arrested nine people and seized roughly $65 million in a crackdown on suspected drug money laundering in the fashion district of Los Angeles.

The U.S. attorney's office said in a statement that agents seized the funds in cash and bank accounts as part of a probe following three separate indictments on charges of money laundering and other financial violations.

Prosecutors say about 1,000 law enforcement agents raided dozens of businesses in the downtown fashion district early Wednesday as part of the investigation.

Authorities allege that individuals working with drug cartels arranged for cash to be delivered to businesses in Los Angeles for goods sold abroad to launder drug money.

http://abcnews.go.com/US/wireStory/f...probe-25405818