Banco Azteca, Mexican bank used by drug cartels, deposited $26 million in cash directly into Eric Hovde’s California bank

WisDems: BOMBSHELL – Banco Azteca, a Mexican bank long alleged to be used by drug cartels, flew $26 million in cash across the U.S.-Mexico border straight to Eric Hovde’s bank

September 19, 2024

MADISON, Wis. — A shocking report this morning from Dan Bice of the Milwaukee Journal Sentinel revealed that Banco Azteca, a bank reportedly tied to the Mexican cartel, smuggled $26 million in 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 news coverage implicated the bank in cartel activity. An executive at the bank was recently implicated in a federal indictment detailing his attempts to bribe a member of Congress to get U.S. banks to do business with the bank again. Despite this, Eric Hovde’s bank flew $26 million in cash from Mexico City to Irvine, California as part of a deal with Banco Azteca last December.

This shocking revelation comes as Hovde refuses to disclose the foreign banks and governments with which his bank has done millions of dollars in business. What else is Hovde hiding?