A multiagency operation led to the arrest of June Jie Zhang, 31 of Toronto and John Philip Co, 41, of Richmond, British Columbia in what investigators are saying was a money laundering and drug ring.
Homeland Securities investigators contacted Zhang and Co while posing as a broker for a Mexican drug trafficker. The agents had agreed to sell the cocaine to the suspects and were paid $750,000. Authorities arrested Co at a storage facility in Costa Mesa as he was waiting to collect the cocaine and Zhang was arrested in Commerce at a casino.
In addition to their drug trafficking efforts, Zhang and Co are also believed to have laundered $15 million of drug proceeds in the last year alone.
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