LA toy company accused of laundering drug money

Three executives at a Los Angeles cuddly toy maker have been arrested on suspicion of laundering millions of dollars for Mexican and Colombian drug traffickers.

U.S. Immigration and Customs Enforcement officials said Friday that the arrests came after a two-year investigation into the Angel Toy Corp.

Officials say representatives from drug-trafficking groups deposited more than $8 million into Angel Toy accounts over a four-year period, always in amounts less than $10,000 to avoid raising suspicion.

The suspects allegedly wired the cash to China to purchase stuffed toy animals. The toys were then sent to Colombia and sold. Money from those sales was then considered clean.

It was not immediately known if those arrested had retained attorneys.

Copyright 2010 The Associated Press.

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