Thursday, 3 February 2011

28 arrested in money laundering swoops in Madrid

28 arrested in money laundering swoops in Madrid: "Twenty eight members of a money laundering network have been arrested in Madrid, in a National Police operation which has searched 14 properties and recovered half a million € in cash.

The network is believed to have laundered up to 100 million € of illegal money through ‘locutorios’ and through a bona fide money transfer company which was specifically set up by the organisation to send the funds out of the country.

Two addresses, the company’s offices, and 10 of the locutorios which were used by the gang were raided on Monday in simultaneous swoops by police. Officers confiscated 3,000 photocopies of forged or altered passports, identity documents, and lists of the recipients of the transferred money and the senders."

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