James Lael and Kelly Anne Jensen’s sprawling, $9-million mansion in Sandy, Utah is the kind of luxury home out of reach to the average American — but not to the long arm of the law.
According to a KSL-TV report, U.S. Marshals arrested the couple at their 27,000-square-foot property in late April as part of a multi-state raid.
Don’t miss
- I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
- Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
- You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
That same day, authorities raided James Jensen’s company Arroyo Terminals in Rio Hondo, Texas, near the Mexican border.
The couple — along with sons Maxwell and Zachary — have been indicted for money laundering in the U.S. District Court of Southern Texas. They are accused of running a $300-million money-laundering scheme, allegedly smuggling crude oil from Mexico.
The federal indictment outlines a complex scheme dating back to May 2022. Here’s what court documents suggest, along with a look at what criminal trade in crude oil costs Americans.
A complex scheme allegedly worth $300M
Court documents state that the Jensens brought 2,881 shipments of crude oil into the U.S. — falsely labeled as “waste of lube oils” and “petroleum distillates.”
The Jensens are accused of directing payments for the crude oil to Mexican businesses that operate “through the permission of Mexican criminal organizations.”
Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
Court documents allege that James Jensen was aware that the payments he made were going to Mexican criminal organizations.
The Jensens’ moneys and assets gained from alleged illegal activities are subject to forfeiture — including the Arroyo Terminals business along with oil tankers, a second property in Draper, Utah, new cars and money in their bank accounts. These assets collectively total $300 million according to KSL-TV.
None of these allegations have yet been proven in court.
At the global level, criminal trade in crude oil is a massive operation.
Illegal trade in oil drives prices at the pump
The Transnational Alliance to Combat Illicit Trade estimates that criminal trade in crude oil is worth upwards of $11.9 billion annually, involving up to 227 million barrels of oil every year.
Windward AI, a U.K.-based company that helps organizations deal with maritime challenges, notes that oil smuggling causes supply-chain disruptions that lead to shortages and higher gas prices.
Port and border agents delay the delivery of legitimate oil shipments while they investigate potential cases of smuggled oil. Those delays are costly for legitimate oil suppliers, who may pass those costs on to consumers.
According to the Energy Information Administration, the cost of crude oil is the largest driver of the price you pay at the pump. Smuggled oil can impact the price of crude oil, making gas more expensive.
Aside from its impact on the price of gasoline, smuggled crude oil can compromise the quality of gasoline, which is a safety concern.
Another safety concern? Trade in smuggled oil supports criminal activity and can fund terrorist organizations internationally and here in the U.S. The Jensens, for example, allegedly engaged in activity that was said to support Mexican criminal organizations.
That’s why shutting down such schemes is not only good for most people’s pocketbooks, but for public safety.
What to read next
- Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
- Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
- Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Related Posts
