Money laundering ring smashed by Guardia Civil
Written by on July 29, 2021
Guardia Civil on the Campo de Gibraltar and Seville have arrested five people in connection with a money laundering ring that is suspected of laundering millions of euros.
Raids were carried out on a number of properties after investigators identified a person who was believed to launder money gained from the sale of drugs.
The prime suspect operated a number of shell companies and with a number of others operated a “shadow bank”. It’s believed the group was about to launder €123 million by investing it in a fictional solar panel company.
The 5 have been placed on remand ahead of trial.