Money-laundering operation detected in Tenerife
A massive money-laundering operation has been detected in Tenerife where police have arrested 12 people.
Investigations were carried out under the banner of “Operation Chalupa Blanca” which started in March. At that time, 13 people were arrested as they tried to introduce a haul of hashish to the Canary Islands in a boat from Morocco.
The Civil Guard were able to identify other people involved in the network who were living a high life-style even though they were not registered with a legal income or property ownership. Suspicions were raised because they drove particularly valuable cars or had luxury boats.
Officers were convinced they were involved in laundering money from the sale of drugs. Purchasing “movable and immovable” property was used as a way of disposing of the money.
In addition, police found a number of “proxy” companies set up to also launder the money.
During the operation, 39 banking products were seized, together with 36 vehicles, six boats and a house worth a million euros.
They also suspended the activities of four companies believed to be involved in illegal activities.