Los Angeles (CNN) -- Los Angeles is known as the nation's capital of many things. Entertainment. Gangs. Even the creative capital of the world. Add this: The City of Angels is now the nation's "epicenter" for money laundering by international drug cartels. Federal officials made such an announcement this week after they raided downtown businesses and seized an estimated $100 million in cash and from bank accounts around the world that were part of forfeiture actions in the ongoing probe. Some of the laundered money included ransom payments to the Sinaloa drug cartel that allegedly kidnapped and tortured a U.S. citizen at a ranch in Mexico.
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Authorities seize more than $100 million in raids of downtown Los Angeles shops
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The business are located in the city's bazaar-like fashion district
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International drug cartels allegedly use a "trade-based money laundering" scheme
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Couriers brought "duffel bags and suitcases full of cash to many businesses," feds say
To do so, the broker would find businesses in @placeholder that buy goods from U.S.-based firms such as those in the Los Angeles' fashion district.