FEDS NET MILLIONS IN LAUNDERED CASH

WASHINGTON -- In the nation's largest drug-money laundering investigation,
U.S. Customs agents have arrested 22 Mexican bankers, luring them to the
United States with promises such as a "business and pleasure meeting" at a
Las Vegas-area casino.

Treasury and Justice Department authorities said yesterday they have
arrested 112 people, and are seizing more than 100 bank accounts throughout
the United States and Europe. They hope to confiscate up to $157 million in
drug money laundered by the Cali and Juarez cocaine cartels.

"By infiltrating the highest levels of this international drug trafficking
financial infrastructure, Customs was able to crack the elaborate financial
schemes the drug traffickers developed," said Treasury Secretary Robert Rubin.

Justice Department Secretary Janet Reno praised the three-year undercover
investigation -- code named "Operation Casablanca" -- as a major step in
the nation's war on organized Central American drug operations. "Today is a
very bad day for drug dealers in our hemisphere," she said.

Three major Mexican financial institutions were indicted for knowingly
participating in money-laundering schemes: Bancomer, Banco Sefin and
Confia. Both Banco Sefin and Confia operate branches in the United States.

Authorities would not speculate on how much the seizure of $157 million
would hurt drug cartels suspected of billions of dollars of annual
trafficking.

Checked-by: Mike Gogulski