Costa News Spain Breaking News | English News in Spain.
Policia Nacional has busted a criminal gang operating one of the biggest crypto-banks around the globe.
There were two distinct branches of the organisation that had €20 million in the bank with an Arab-based group receiving money from anywhere in the world.
Their Chinese counterparts based in Almeria and Madrid received cash in Spain and sent it out in order to get paid commissions via cryptocurrency.
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In effect, they acted as mules transporting hidden money in vehicles to customers throughout Spain.
The gang advertised on social media their financial services under the guise as a legit money transfer company.
It allowed them to reach out to all types of clients and expand their activities internationally.
The money was used to finance criminal activities, such as drug trafficking and human trafficking.
Over 250 police officers conducted simultaneous raids in Almeria as part of an investigation by a court.
Details of the operation were made public only on Wednesday. The operation took place in January, but was conducted in conjunction with Europol and Eurojust.
The gang has been arrested after 13 house searches.
One address in Antwerp was raided, with the others in Spain: Madrid (4). Valencia (1). Malaga (1). Almeria (5).
15 detainees are in jail for the crimes of money laundering and belonging to a criminal group.
Police seized €205,000 in cash, €183,000 in cryptocurrencies, 18 vehicles valued at more than €207,000 plus computer and mobile devices -most with encrypted technology.
Also impounded were 10 properties valued at more than €2.5 million.
Officers also removed high-end fashion bags worth over €230,000 and premium cigars valued at over €622,000.
