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Nation IN BRIEF : FLORIDA : Miami Leads in Laundered Money

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From Times staff and Wire reports

A six-month investigation by the Miami Herald has found that Miami leads the nation with a $5.1-billion cash surplus in its banking system, a tell-tale sign of the drug trade. A federal grand jury is investigating Republic National Bank in one of the most intensive money-laundering cases in history, and at least five other banks are under scrutiny, the Herald said. The U.S. Drug Enforcement Administration seized $210 million in cash and property in Miami in 1989.

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