Spanish gang that provided international money laundering services broken up in Madrid, Toledo

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August 13 2019

The National Police and Civil Guard of Spain dismantled a criminal organisation based in the cities of Toledo and Madrid, which laundered more than 70 million euros for other criminal groups, according to a statement by the Spanish police.In the operation, the security forces arrested 28 people, 22 of them in Spain and six in the Netherlands.

In addition, agents investigated 29 companies, froze more than 70 real estate and banking assets and recovered seven firearms and a hundred vehicles. More than 140 telephones and  computer equipment has also been seized. The organisation reportedly charged a commission of between 10 and 15 percent to launder money on behalf of Asian groups involved in fraud against public finances and Colombian drug trafficking gangs.

The group laundered the money through a network of businesses in the import and export and property sectors that were headed by frontmen who were paid to lend their name to the companies.