Pasadena Home Worth Millions Seized in Drug Money-Laundering Investigation

Special agents with U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) posted seizure notices late Friday afternoon on three Los Angeles-area homes, including a mansion in Pasadena valued at approximately $8 million, in the latest developments stemming from Operation Fashion Police, an HSI-led probe targeting alleged large-scale money laundering by businesses in the Los Angeles garment district.

HSI, in collaboration with the U.S. Attorney’s Office, is seeking to seize the three residences, alleging they were purchased with proceeds derived from a “Black Market Peso Exchange” scheme to launder narcotics proceeds for international drug cartels. In addition to the 8,000 square foot home at 1500 Lombardy Road in Pasadena, authorities are also seeking to seize a second Pasadena residence at 3750 Mayfair Drive, and a home in Alhambra located at 1117 N. Almansor Street. Collectively the three residences are believed to be worth approximately $10 million and financial records indicate the mortgages on the two Pasadena homes are fully paid. At this time, the affidavits associated with the seizure warrants remain under seal, so no additional information is available.

“This case is a testament to the great work of HSI, and clearly shows that the Department of Homeland Security will follow the trail of criminal proceeds wherever it leads, whether it’s around the block or around the world,” said Secretary of Homeland Security Jeh Johnson. “With the help of our Taiwanese law enforcement partners, these seizures not only deny criminals their profits, they also disrupt their ability to further fund their criminal activity.”

Additionally, overnight HSI and the U.S. Attorney’s Office finalized arrangements with the Taiwanese Ministry of Justice to freeze $15.6 million in funds currently deposited in a Taiwanese bank account that is also allegedly tied to the money laundering scheme. This is the first time Taiwan is facilitating a significant asset seizure as part of a U.S.-based criminal investigation.

Earlier this week as part of Operation Fashion Police, HSI special agents seized more than $60 million in cash and $19 million in domestic bank deposits. HSI officials stress the probe is ongoing and more enforcement activity is anticipated.