The Road To El Dorado

Throughout the 1980s and into the 1990s, U.S. law enforcement saw an increasing number of major financial crimes, primarily as a result of narco-money laundering. To combat this trend, in 1992, the former U.S. Customs Service Office of Investigations (now ICE), in conjunction with the President’s Office of National Drug Control Policy initiated an aggressive, multi-agency approach to target financial crimes within the New York and New Jersey metropolitan area. This initiative was named the El Dorado Task Force.

Who We Are

The El Dorado Task Force consists of over 260 members from more than 55 law enforcement agencies in New York and New Jersey – including special agents, state and local police investigators, intelligence analysts and federal prosecutors. A significant component of the task force is our High Intensity Financial Crimes Area (HIFCA)/Intelligence Unit, which is responsible for analyzing records and other financial data. The El Dorado Task Force is headquartered at the ICE office of the Special Agent in Charge, New York and at other locations in the New York/New Jersey Metropolitan area.

Methodology

The El Dorado Task Force targets financial crime at all levels. Utilizing ICE’s Cornerstone approach, agents assigned to the task force educate the private financial sector to identify and eliminate vulnerabilities and promote anti-money laundering legislation through training and other outreach programs. Prosecutors utilize a full range of criminal and civil laws to prosecute targets and forfeit the proceeds of their illicit activity. The El Dorado Task Force utilizes a systems-based approach to investigating financial crimes by targeting vulnerabilities such as the Black Market Peso Exchange and commodity-based money laundering.

A Tradition of Success

The El Dorado Task Force has been responsible for some of ICE’s most significant money laundering investigations. Some of its notable investigations include:

Operation Meltdown

In Operation Meltdown, ICE investigated and shut down a large-scale narcotics money laundering operation in which criminals smuggled gold, disguised as common household goods, to Colombia. agents from New York made 26 arrests and seized $2.8 million in cash, approximately $1.4 million in gold, and approximately $1 million in diamonds.

Operation Wirecutter

This investigation to the arrest of 42 targets for narco-money laundering and the seizure of over $8.2 million in laundered proceeds. This investigation also led to the first-ever extraditions from Colombia to the U.S. for money laundering.

Norte Valle Cartel

ICE agents crippled a major New York cocaine supply ring by targeting the money remitters who were sending proceeds of drug sales to Colombia. This investigation led to the indictment and extradition of the hierarchy of the Norte Valle Cartel, allegedly responsible for smuggling 1.2 million pounds of cocaine worth over $10 billion into the U.S.

How You Can Help

• Report suspicious financial activity in the New York Metropolitan Area to the El Dorado Task Force by calling 646-230-3200.
  
  
• Partner with the El Dorado Task Force. Become a private sector partner by contacting us and arranging for a presentation by a task force agent.
  
  
• Comply with the Bank Secrecy Act, the USA PATRIOT Act, and other industry reporting requirements through a comprehensive anti-money laundering program.