FedEx Corp. (FDX) faces money-laundering charges in a drug-trafficking case brought by the U.S. last month over shipping of prescription painkillers and other controlled substances for illegal Internet pharmacies.
The allegations of a conspiracy to launder money were included in a revised indictment against the company filed today in federal court in San Francisco. FedEx and individuals who ran the illicit pharmacies “knowingly and intentionally” schemed to launder more than $630,000 in shipping payments that were derived from drug sales, federal prosecutors said in the indictment.
The government has said that FedEx and its co-conspirators could face a fine of twice the gains from the conduct, alleged to be at least $820 million.