LOS ANGELES – Two men and the import-export company they allegedly used to move millions of dollars linked to illegal activity from the United States to Mexico are scheduled to be arraigned this afternoon after being indicted on federal charges of operating an unlicensed money transmitting business and structuring cash transactions.
According to an indictment returned by a federal grand jury on February 13, the three defendants received large sums of cash and worked with ‘peso brokers’ in Mexico to illegally convert the dollars to pesos.
The three defendants named in the 93-count indictment are: Peace & Rich Import, Inc., a wholesale distributor of silk flowers and other goods, located on Weaver Avenue in South El Monte; Chaur Hwan ‘Kenny’ Lin, 66, of San Marino, the president and co-owner of Peace & Rich; and Antonio Pareja, 53, of San Gabriel, the manager of Peace & Rich.
All three defendants are scheduled to be arraigned this afternoon at 2:00 p.m. in United States District Court in downtown Los Angeles.
Lind and Pareja ran Peace & Rich as ‘an informal money transfer system’ that, according to the indictment, ‘was involved in facilitating the transfer of money domestically outside of the conventional financial institutions system.’
An investigation by the Drug Enforcement Administration in Los Angeles determined that Lin and Pareja used Peace & Rich to receive large amounts of cash derived from illegal activity. The cash – tens of thousands of dollars, sometimes hundreds of thousands of dollars, according to the indictment – was typically delivered by couriers working in conjunction a peso broker in Mexico.
The indictment alleges that Peace & Rich took in large amounts of cash and conducted transactions without being registered as a money transmitting business and without filing Currency Transaction Reports (CTRs), which are required when a business accepts cash payments of more than $10,000. Lin and Pareja allegedly disbursed cash as directed by a peso broker in Mexico to couriers for delivery to other United States-based businesses on behalf of their Mexico-based customers. Additionally, Lin allegedly ‘structured’ cash deposits – or, made a series of deposits that were less than $10,000 – to avoid the filing of CTRs by the financial institutions where the deposits were made.
Defendant: Peace & Rich Import, Inc., Chaur Hwan ‘Kenny’ Lin, Antonio Pareja
Criminal Charges: Conspiracy (five-year statutory maximum sentence), operating an unlicensed money transmitting business (five-year maximum sentence), failure to file currency transaction reports (10-year statutory maximum sentence for each count), structuring financial transactions (10-year maximum sentence per count)
City and State: Los Angeles, California
Exact Date: February 13, 2023
Sentence or Outcome: Arraignment scheduled for 2:00 p.m. in United States District Court
Dollar Amounts: Tens of thousands to hundreds of thousands of dollars
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Key Facts
- State: California
- Category: Drug Trafficking
- Source: DOJ Press Release â†â€â€
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