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A family-based criminal group with international connections that laundered more than €45 million in Spain has been dismantled

Joint operation of the Tax Agency, National Police and Europol

  • The operation was carried out in the province of Valencia and resulted in the arrest of five people, from whom various documentation, 16 properties, two vehicles, around 21,000 euros in cash and various high-quality objects and collections were seized. economic value

October 26, 2021.- The Tax Agency, in a joint operation with the National Police and EUROPOL, have arrested five people in the province of Valencia for allegedly belonging to an organization criminal, of a family nature, who had laundered more than 45 million euros in Spain.

The investigations began in 2017, coordinated by the Prosecutor's Office against Corruption and Organized Crime and by the Investigative Court number 20 of Valencia.

From the beginning, investigators verified the important commercial and financial relationship that a Spanish company run by a family-based criminal organization had developed. The commercial operations examined, based mainly on interior design and property decoration work, apparently had prices much higher than market values, with the Spanish company lacking personnel and an infrastructure that corresponded to such a volume of business, and introducing large amounts of money into the Spanish financial sector. The total exceeded 45 million euros.

To carry out these activities, the criminal organization made certain disbursements that could be identified as possible commission payments to alleged front men in bank accounts in third countries, as well as the acquisition of real estate in Spain in the name of other people.

In order to hide its extraordinary increase in assets, the organization created a corporate structure that was intended to camouflage the end-use of the funds obtained, although a large part of them were used to acquire numerous properties in the city of Valencia.

Due to the international connections of this criminal organization, during the investigation it has had the support of a specialist from the Anti-Corruption Group of the European Center against Economic and Financial Crime (EFECC) of EUROPOL, who has supported this investigation, as well as possible links of corruption that may exist.

New arrests are not ruled out

So far, five Spanish people have been arrested for their alleged links to money laundering crimes and membership in a criminal organization, although future arrests have not been ruled out.

As a consequence of the operational exploitation of the investigation, two entry and registration procedures were carried out in the province of Valencia, resulting in the intervention of various documentation, both in paper format and in electronic and digital format (various computers, tablets and mobile phones), which at first glance could show the actual commission of the facts investigated. With the analysis carried out, the existence of other possible crimes carried out by the dismantled criminal organization could be proven.

16 properties have been judicially intervened, almost all located in the province of Valencia, as well as two vehicles used by the organization. In addition, 35 bank accounts in different financial institutions have been seized and during the police operation around 21,000 euros in cash have been seized, as well as different objects and collections of high economic value.

Filming of operation (to download the video you must enter the following web address):

https://we.tl/t-9m8ytXUiTd