Spanish police smash global money laundering ring
Spanish authorities arrested 20 police suspected of having laundered millions of euro raised through drug trafficking.MADRID – Spanish authorities have smashed an international network suspected of having laundered millions of euros raised through drug trafficking with the arrests of 20 people, police said Monday.
Police suspect the group transferred EUR 3 million in 2007 and 2008 from Spain to accounts in China, Panama, Venezuela and the United States which eventually wound up at a fake dentistry foundation in Colombia, they said in a statement.
The suspected leader of the network in Colombia was detained in Miami by US police while the remaining suspects were detained by Spanish police in raids carried out across Spain, the statement added.
In addition to the arrests, police seized five vehicles, 32 mobile telephones, cocaine, six fake passports and other documentation.
Police began their investigation in May 2008 with a probe into several suspicious transfers of money to Colombia.
Spain is one of the main points of entry of drugs into Europe, from hashish that has been grown in north Africa, to Latin American cocaine, mostly from Colombia, the world's top producer of the drug.
AFP / Expatica