Spanish criminal rings launder money in Liechtenstein, daily says
Spanish drug traffickers and corrupt officials have laundered money in Liechtenstein, the daily El Pais reported Friday.29 February 2008
MADRID - Spanish drug traffickers and corrupt officials have laundered money in Liechtenstein, the daily El Pais reported Friday.
The report followed the launch of investigations in several Western countries into tax evasion through Liechtenstein banks and foundations. The Spanish tax authorities are also investigating a group of citizens.
Earlier, Spanish police had already begun investigating at least four major criminal rings which are believed to have laundered money in Liechtenstein, El Pais said.
Those investigated included Colombian and Spanish drug traffickers and corrupt officials and businessmen in the southern tourist resort of Marbella, where the city council was dismantled over sales of illegal building licences two years ago.
The criminals deposited money in Liechtenstein not only to evade taxes, but also to hide their identities by opening bank accounts in the name of foundations, according to the daily.
[Copyright dpa 2008]