Miro paintings bought in EUR 100m mafia scam
3 June 2005, BARCELONA — Spanish police have broken up a EUR 100 million money laundering scam linked to murder and extortion in Eastern Europe.
3 June 2005
BARCELONA — Spanish police have broken up a EUR 100 million money laundering scam linked to murder and extortion in Eastern Europe.
Thirteen suspects were arrested in Barcelona, Taragona and Almeria.
There were nine Spaniards, three Ukranians and a Russian aged between 28 and 62.
Some of the cash was being used to buy works of art by Miro and Fortuny.
The operation — codenamed Red Marble — has led to police action against a number of property companies, a four-star hotel and the police putting blocks on more than 60 bank accounts.
The operation began after police became aware of a number of property deals in Spain involving individuals from Eastern Europe without an trace of the capital which was used.
The gang has been lead by Ukranians, who have been linked to murders, extortion, bribery and a number of other criminal activities in Eastern Europe.
The cash was circulating through tax exiles like Belize, the Bahamas, the Virgin Islands, the Dutch Antilles and Andorra.
It would finally come to Spain via bogus credit accounts, police sources said.
Fifty flats, some of them decorated luxurious with the proceeds of the fraud, were raided in the operation.
[Copyright EFE with Expatica]
Subject: Spanish news