In a coordinated effort between Spain and Portugal, law enforcement agencies have arrested 14 suspects linked to a vast money-laundering network predominantly operated by Russian nationals. This criminal operation, connected to various international gangs, has transferred significant sums over two years, making it one of the largest schemes in recent memory.
Major Money-Laundering Operation Linked to Russian Mafia Dismantled in Spain
Major Money-Laundering Operation Linked to Russian Mafia Dismantled in Spain
A crackdown by Spanish and Portuguese authorities leads to the arrest of 14 individuals involved in a colossal money-laundering operation exceeding €1 trillion.
In a sweeping operation across Spain and Portugal, authorities have dismantled a massive money-laundering ring alleged to be linked to Russian organized crime, arresting 14 individuals. The criminal network, which reportedly laundered over €1 trillion (€828 billion) in just two years, was primarily focused on handling funds generated from illegal drug trafficking.
According to Europol, most of the detained suspects are of Russian nationality. Investigations reveal that the operation functioned as a "multinational money laundering company," charging clients between 2-3% fees for their services. Law enforcement executed simultaneous raids on nine properties throughout Spain and in Lisbon, resulting in the seizure of more than €1 million in cash and cryptocurrencies.
The criminal enterprise strategically positioned offices in various Spanish cities, reportedly processing up to €300,000 daily for a network of mafias including Albanian, Serbian, Armenian, Chinese, Ukrainian, and Colombian affiliations within and outside the EU. Police began scrutinizing this operation after noticing the frequent financial transactions of known Russian mafia members, engaging a technique known as "Hawala." This traditional system allows money transfers across borders without physical or digital movement, thereby enabling the laundering process.
The investigation also unveiled the ring's ambitions to extend operations to Cuba, intending to provide solar panel energy while seeking minerals in return. Communications intercepted between gang members and Cuban officials suggested claims of ties to influential Spanish political figures.
During the raids, police found sophisticated security measures, including high-security safes and sound-proof money-counting machines at each location. The group employed considerable precautions to evade detection, such as constantly changing operational locations and vehicles, alongside using encrypted communication devices that would lock the entire group's phones in the event of an arrest.
While the three principal leaders of the operation remain detained, law enforcement agencies have hinted that additional arrests may still follow as the investigation unfolds.
According to Europol, most of the detained suspects are of Russian nationality. Investigations reveal that the operation functioned as a "multinational money laundering company," charging clients between 2-3% fees for their services. Law enforcement executed simultaneous raids on nine properties throughout Spain and in Lisbon, resulting in the seizure of more than €1 million in cash and cryptocurrencies.
The criminal enterprise strategically positioned offices in various Spanish cities, reportedly processing up to €300,000 daily for a network of mafias including Albanian, Serbian, Armenian, Chinese, Ukrainian, and Colombian affiliations within and outside the EU. Police began scrutinizing this operation after noticing the frequent financial transactions of known Russian mafia members, engaging a technique known as "Hawala." This traditional system allows money transfers across borders without physical or digital movement, thereby enabling the laundering process.
The investigation also unveiled the ring's ambitions to extend operations to Cuba, intending to provide solar panel energy while seeking minerals in return. Communications intercepted between gang members and Cuban officials suggested claims of ties to influential Spanish political figures.
During the raids, police found sophisticated security measures, including high-security safes and sound-proof money-counting machines at each location. The group employed considerable precautions to evade detection, such as constantly changing operational locations and vehicles, alongside using encrypted communication devices that would lock the entire group's phones in the event of an arrest.
While the three principal leaders of the operation remain detained, law enforcement agencies have hinted that additional arrests may still follow as the investigation unfolds.
