topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2135.35 0.75
DAX 6386.58 0.74
IBEX 30 6516.3 -0.41
CAC 40 3077.17 0.96
FTSE 100 5402.24 0.95
AEX 295.54 0.95
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13213.57 0.45
TSX Composite 11576.47 0.09
ASX 4120.2 0.96
Hang seng 18800.99 0.47
Straits Times 2787.22 0.52
ISEQ 20 503.36 0.48
You are here: Home News Spanish News Spanish police smash global money laundering ring

Spanish News

archive
Enlarge font Decrease font Text size


07/04/2009Spanish 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


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Technology in Spain

Sat phones/internet links

English in Spain

What is the best travel insurance cover to Spain?

American in Spain

U.S. citizens, plan to vote in 2012? Did you know...

Relocation to Spain

thinking of moving to madrid

Jobs in Spain

Job Agencies or how to find work.

participate in the forums

Inside Expatica
Editor's Guide: Getting Started in Spain

Editor's Guide: Getting Started in Spain

Expatica's Getting Started section will provide practical information on how you can open a bank account, exchange your driving licence, improve your Spanish, and more.

Groups and Clubs in Madrid

Groups and Clubs in Madrid

Here's a guide to an extensive list of groups and clubs in Madrid for expats, from sports groups to social and family gatherings.

Groups and Clubs around Spain

Groups and Clubs around Spain

A brief introduction to our Tax section for Spain, from help with inheritance tax to accounting advice.

Groups and Clubs in Barcelona

Groups and Clubs in Barcelona

Here's a short introduction to our Banking section for those living in Spain, from what to ask the experts to opening a Spanish bank account.