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Sen. Ted Cruz pushes for 'El Chapo Act' to pay for border wall, security assets

The revitalized effort comes hours after Joaquin "El Chapo" Guzman was convicted in federal court.
Credit: Sen. Ted Cruz

TYLER, Texas — U.S. Sen. Ted Cruz (R-Texas) is pushing for Congress to pass the Ensuring Lawful Collection of Hidden Assets to Provide Order (EL CHAPO) Act in order to provide security measures along the southern border.

The bill would reserve any amounts forfeited to the U.S. Government as a result of the criminal prosecution of Joaquin "El Chapo" Guzman and other drug lords for border security assets and the completion of the wall along the U.S.-Mexico border.

The U.S. Government is currently seeking the criminal forfeiture of more than $14 billion in drug proceeds and illicit profits from El Chapo, the former leader of the Sinaloa drug cartel who was recently extradited to the U.S. to face criminal prosecution for numerous alleged drug-related crimes, including conspiracy to commit murder and money laundering.

"Fourteen billion dollars will go a long way toward building a wall that will keep Americans safe and hinder the illegal flow of drugs, weapons and individuals across our southern border," said Sen. Cruz. "Ensuring the safety and security of Texans is one of my top priorities. We must also be mindful of the impact on the federal budget. By leveraging any criminally forfeited assets of El Chapo and his ilk, we can offset the wall’s cost and make meaningful progress toward achieving President Trump’s stated border security objectives."

RELATED: Jury finds drug lord El Chapo guilty on all counts

On Tuesday, the 61-year-old was found guilty on all charges brought against him. Guzman is due back in court on June 25 where he faces a mandatory life sentence without the possibility of parole.