SAN ANTONIO – U.S. Sen. Ted Cruz, R-Texas, reintroduced the EL CHAPO Act in an effort to reserve assets forfeited to the U.S. government as a result of the criminal prosecution of drug lords.
The bill, which stands for Ensuring Lawful Collection of Hidden Assets to Provide Order Act, is named after Joaquin “El Chapo” Guzman, the former leader of the Sinaloa Cartel who was found guilty Tuesday on all 10 federal criminal counts against him.
The forfeited funds would be used for border security and to fund the completion of the border wall.
“Congress has a clear mandate from the American people: secure the border and build the wall,” Cruz said in a news release. “Ensuring the safety and security of Texans is one of my top priorities. Indeed, I have long called for building a wall as a necessary step in defending our border.”
The news release from Cruz’s office said the federal government is seeking forfeiture of more than $14 billion in drug proceeds and illicit profits from Guzman.
“Fourteen billion dollars will go a long way to secure our southern border, and hinder the illegal flow of drugs, weapons, and individuals. By leveraging any criminally forfeited assets of El Chapo and other murderous drug lords, we can offset the cost of securing our border and make meaningful progress toward delivering on the promises made to the American people,” Cruz said in the news release.