Government to Seize Drug Money

DALLAS (AP) The government planned Monday to begin seizing an estimated
$1.5 billion in Colombian drug profits stashed in banks around the country, a
newspaper reported Friday.

The seizures were to begin with 100 accounts in South Florida and authorities
expect to seize money from 5,000 accounts elsewhere in Florida, New York,
Texas and California over the next two years, The Dallas Morning News said in
a report on its Web site.

The newspaper, which quoted federal law enforcement officials it did not
identify, said the seizures were part of ``Green Gold,'' a federal
investigation of 300 to 400 Colombian financial managers.

The money will be forfeited to the government if prosecutors can prove it was
illegally acquired.

``It's all Colombian drug money. Of that, we are certain.

Mass arrests to go with the seizures are unlikely because most of the account
holders and managers live outside the United States, one investigator said.

Details, including the names of the banks, were not disclosed because the
investigation is continuing and the first court order permitting authorities
to freeze accounts won't be issued until Monday, the newspaper said.

The investigator said the estimated amount targeted for seizure is
conservative. The banks involved have been cooperating and include at least
three major international institutions based in Miami and New York, the
sources said.

The Morning News said it obtained information about the investigation, called
``Oro Verde'' in Spanish, on condition it not be published until after banks
closed Friday and the suspicious accounts became inaccessible to their
owners.

Computerized banking allows money launderers to close hundreds of accounts
and transfer millions of dollars within hours of being tipped off to a
federal investigation.

``If they wake up and read about this over the weekend, all they can do is
sit and sweat,'' one investigator said.