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LOS ANGELES — Three executives at a stuffed-toy manufacturer were arrested Friday on suspicion of laundering millions of dollars for Mexican and Colombian drug traffickers, authorities said.
The arrests of Meichun Cheng Huang, 57; Ling Yu, 52; and Xiaoxin Ju, 48, followed a two-year, multi-agency probe into the Angel Toy Corp.
According to a federal indictment, representatives from drug-trafficking groups would drop cash at Angel Toy’s downtown headquarters or deposit money into company accounts.
The money was then wired to China to purchase teddy bears and other stuffed animals. These toys were allegedly sent to Colombia, where a businessman sold them and gave the proceeds, in pesos, to the drug traffickers.
Denver Post wire services
