French and Spanish authorities have arrested five members of a suspected Chinese money laundering network in Spain this week. The operation, backed by Europol, involved extensive searches and coordinated efforts across both countries.
France and Spain Arrest 5 Members of Suspected Chinese Money Laundering Gang
Around a hundred Spanish police officers who were supported on the ground by French Judicial Customs investigators and Europol experts conducted searches on July 2 and 3.
These search operations occurred in Madrid, Valencia, Alicante, and Barcelona, targeting residences, company offices, warehouses, and restaurants. During these raids, nearly EUR 160,000 in cash was seized, and the suspected leader of the network was among those taken into custody.
Chinese Money Laundering Network in Europe
The investigation began in February 2021 after French Customs in Perpignan discovered over half a million euros concealed in a vehicle.
This led the French National Anti-Fraud Office to investigate further, uncovering a complex money laundering network that has reportedly been operating across Europe since at least 2019.
Composed of Chinese nationals, the group is suspected of laundering over a million euros daily, with funds linked to various illegal activities, including counterfeit goods trafficking, tax and customs fraud, and prostitution, according to the Europol.
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