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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.