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Drugs’ money “hidden” through luxury car purchases 

Agents of the National Police have dismantled a criminal group dedicated to money laundering to hide proceeds from drug trafficking in the Canary Islands.

Five men aged between 40 and 65, of Spanish nationality, all with a police record, have been arrested in Las Palmas de Gran Canaria as alleged perpetrators of a crime of money laundering.
Police said the criminal group received payments from a recently dismantled organisation dedicated to the drug trade and bought on behalf of companies high-end vehicles, of which agents seized eight valued at more than 200,000 euros.
The drug trafficking gang was dismantled at the end of 2018 and was followed by a financial investigation into the criminal network.
Police were able to verify that great part of the profits obtained by the organisation was used to buy, through a network of societies, high-end vehicles, some of which were used by the members of the dismantled delinquency network.
The money launderers also arranged the legal circulation and the contracting of insurance for them.