Gibraltar banker arrested for money laundering

22nd April 2005, Comments 0 comments

22 April 2005, GIBRALTAR - Spanish police have arrested the director of a Gibraltar banking agency as part of their on-going investigation into a multi-million euro international money-laundering scam based on the Costa del Sol.

22 April 2005

GIBRALTAR - Spanish police have arrested the director of a Gibraltar banking agency as part of their on-going investigation into a multi-million euro international money-laundering scam based on the Costa del Sol.

The official is accused of channelling cash through a Dutch company to Russia. He had previously been based in the Costa del Sol, working in Marbella.

The arrest is the latest in a police operation (codenamed 'White Whale') into a EUR 250 million money-laundering scam allegedly involving Eastern European mafias.

The Russian oil giant Yukos had been implicated in the scandal, a claim it denies.

The police operation, which began last month, started with the arrest of a lawyer, Fernando del Valle, in Marbella. Del Valle, who is in custody, is allegedly the 'brains' behind the scam.

So far 48 people - including Spaniards, Moroccans, Israelis, French , Finns, Russians and Ukrainians - have been arrested.

Police said they could not discount the possibility that there would be more arrests.

[Copyright EFE with Expatica]

Subject: Spanish news

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