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October 10, 2007
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Treasury Targets Financial Empire of Colombian Trafficker
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today added to its list of Specially Designated Narcotics Traffickers seven individuals and 14 companies tied to Colombian narcotics trafficker Juan Carlos Ramirez Abadia (a.k.a. Chupeta). Among those designated today are key financial associates of Ramirez Abadia, including Diego and Tulio Alzate Jimenez, and a Colombian currency exchange and money remittance company (casa de cambio).
"Today's designations are the latest in a series aimed at Chupeta's illicit business empire," said OFAC Director Adam J. Szubin. "This action targets Cambios y Capitales S.A., a major money service business, along with several of Chupeta's most important financial associates."
Juan Carlos Ramirez Abadia, who was identified as a Specially Designated Narcotics Trafficker by OFAC in August 2000, was arrested in Brazil on August 7, 2007. He was previously indicted on federal drug trafficking charges in Colorado in 1994 and the Eastern District of New York in 1995 and 2004. In 2004, Colombia's North Valle drug cartel was indicted in the District of Columbia under the federal Racketeer Influenced and Corrupt Organizations Act. Juan Carlos Ramirez Abadia was identified in this U.S. indictment as one of the cartel's leaders.
OFAC has worked closely with the Drug Enforcement Administration and the U.S. Attorney's Office for the Eastern District of New York on this sanctions investigation.
Diego Uriel Alzate Jimenez, Luis Holmes Alzate Jimenez, and Tulio Hernando Alzate Jimenez are among the primary shareholders of Cambios y Capitales S.A., which is headquartered in Bogota, Colombia. One of the brothers, Tulio Hernando Alzate Jimenez, was indicted on federal narcotics-trafficking and money- laundering charges in the Southern District of Florida in 1994. The Alzate Jimenez brothers are also owners of Andinaenvios AN EN S.A., a courier and money remittance business located in Quito, Ecuador, which was also designated today by OFAC.
Another key group of financial associates for Juan Carlos Ramirez Abadia identified by OFAC today are the Lopera Barbosa siblings. Adriana Lopera Barbosa, Jairo Humberto Lopera Barbosa, and Juan Carlos Lopera Barbosa own and manage four Colombian companies, including Coinemp S.A. and J.A.J. Barbosa y Cia. S.C.S., that act as real estate holding firms to hide the assets of Ramirez Abadia. Another Ramirez Abadia front person, Nelson Salazar Lugo, helps manage the Colombian tourism company Turismo Hansa S.A. The Alzate Jimenez brothers and the Lopera Barbosa siblings also play ownership and management roles in Turismo Hansa S.A. on behalf of Juan Carlos Ramirez Abadia.
Today's announcement marks OFAC's third action targeting the assets of Ramirez Abadia since 2006. In August 2006, OFAC designated the Colombian pharmaceutical distribution company Disdrogas Ltda. along with Ramirez Abadia's parents, who were managing the company on his behalf. On August 15, 2007, OFAC designated several of Ramirez Abadia's key lieutenants as well as a theme park (Parque Yaku) and a paso fino horse breeding farm (Criadero Santa Gertrudis S.A.) located near Cali, Colombia.
A detailed look at the program against Colombian drug organizations is provided in OFAC's March 2007 Impact Report on Economic Sanctions Against Colombian Drug Cartels. (see link below)
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