Canary network laundered money from drugs through property purchases
A massive money laundering scam involving hundreds of thousands of euros has been uncovered by police in Gran Canaria.
So far, 12 people have been arrested, seven men and five women, aged between 23 and 55. Seven others are also under investigation.
The network is alleged to have laundered the proceeds of drug trafficking through the acquisition of multiple real estate and personal property on the island of Gran Canaria.
The dozen suspects arrested face charges of money laundering, fraud and forging documents related to Social Security. It is believed up to 712,000 euros is involved.
The operation has involved the intervention of 20 motor vehicles, a jet ski, two boats and nine real estate properties, in addition to the blockade of a dozen banking products.
The investigation was initiated in the wake of the dismantling in 2015 of a criminal organisation dedica-ted to drug trafficking in which 1.3 kilograms of cocaine and ten kilograms of hashish were seized, and which uncovered the possible existence of the money laundering network.
The police investigations then detected a structure parallel to the organisation of drug traffickers and hierarchically linked to it, dedicated to the laundering of monetary flows obtained from the trafficking of narcotic substances.