A bombshell report this morning from Dan Bice of the Milwaukee Journal Sentinel revealed that Banco Azteca, a bank reportedly tied to the Mexican cartel flew $26 million of cash across the U.S.-Mexico Border to Eric Hovde's bank in California. As the Milwaukee Journal Sentinel detailed, Banco Azteca was cut off by several other U.S. banks over "risk and compliance concerns" after reporting linked it to cartel activity. An executive of the bank was recently implicated in a federal indictment detailing his attempts to bribe a member of the U.S. Congress to get U.S. banks to once again do business with the bank. Despite this, Eric Hovde's bank flew $26 million of cash from Mexico City to Irvine, California as part of a deal with Banco Azteca last December. This shocking revelation comes as Hovde has refused to disclose which foreign banks and governments his bank has done millions of dollars of business with.
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