Agents of the Spanish National Police, in a joint operation with the Tax Agency and EUROPOL, have arrested five people in the province of Valencia for allegedly belonging to a criminal organization, of a family nature, that had laundered in Spain more than 45 million of euros. The police investigations began in 2017, coordinated by the Office of the Prosecutor against Corruption and Organized Crime and by the Examining Court number 20 of Valencia.
From the outset, the investigators verified the important commercial and financial relationship that a Spanish company led by a family criminal organization had developed. The commercial operations examined, based mainly on interior design and decoration of buildings, apparently had prices much higher than market values, the Spanish company lacking personnel and infrastructure that would correspond 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 on behalf of other people.
In order to hide its extraordinary increase in assets, the organization created a corporate structure that was intended to camouflage the final destination 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 we 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 corruption links that may exist.
New arrests are not ruled out
So far, five Spanish people have been arrested for their alleged links to crimes of money laundering and membership of a criminal organization, although future arrests are not ruled out. As a result 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 electronic and digital (various computers, tablets and mobile phones), which at a glance could show the effective commission of the investigated facts. 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 entities have been seized and some 21,000 euros in cash have been seized during the police operation, as well as different objects and collections of high economic value.