StoneX Intends to Acquire Units of Bank Mired in US Drug Claims

StoneX Group Inc. said it’s seeking to acquire US units of Mexican bank Intercam Banco SA, which last week was among three firms accused by the Trump administration of facilitating money laundering for drug traffickers.

StoneX signed a letter of intent to purchase Intercam Advisors Inc. and Intercam Securities Inc. from Intercam Holdings Inc., according to a statement. The units are Miami-based affiliates of the Mexican firm, according to the company’s website.

Read More: US Accuses Mexican Financial Firms of Aiding Drug Traffic

Intercam, with about $4 billion of assets, provided financial services that helped Mexican cartels traffic ...