Perfume Dealer Charged with Laundering Millions for Drugs Cartels

The US Attorney for the Southern District of New York Preet Bharara has announced that perfume dealer Vikram Datta has been charged with one count of participating in a money laundering conspiracy for allegedly laundering millions of dollars for Mexican drug cartels. Mr Datta was arrested following an investigation into the Mexican Black Market Peso Exchange. According to Mr Bharara, Mr Datta, who owned 11 perfume shops on the US-Mexico border, “accepted millions of dollars in cash from peso brokers and/or narcotics traffickers in exchange for perfume”. Financial records are alleged to show that between January 2009 and January 2011, over $25 million in US dollars was deposited in bank accounts controlled by Mr Datta and his associates. According to Mr Bharara, Mr Datta is also accused of failing to report cash transactions exceeding US$10,000, as required by the Bank Secrecy Act.
US Attorney for the Southern District of New York’s media release (18 January 2011)
(Source: US Attorney for the Southern District of New York)