80 people arrested in crackdown against Chinese mob

Chinese nationals would take bags and suitcases filled with money to their country where it was recieved by members of the money laundering organization who would then invest it in other businesses.

At least 80 people were detained in Spain and other countries in "Operation Emperor" which dismantled a gang integrated by Chinese nationals which allegedly laundered an estimated 200 to 300 million euros a year, Spain's chief anti-corruption prosecutor said on Tuesday (October 16).
Six million euros in cash were found during police raids, as well as 202 vehicles, jewellery and pieces of art. One hundred and twenty-two bank accounts and 235 banking societies have been intervened, authorities said.
Amongst those arrested are a councillor from Fuenlabrada near Madrid, Spanish porn actor Nacho Vidal and members of the police.
Raids took place in Madrid, Barcelona and other locations in the Basque Country, Castille and León and the southern city of Málaga. Most of the 80 detentions took place in Spain and seven other countries including China. In total 110 arrest warrants have been issued.
The chief anti-corruption prosecutor Antonio Salinas said the Chinese nationals would take bags and suitcases filled with money to their country where it was recieved by members of the money laundering organization who would then invest it in real estate and other businesses.
They would also lauder cash through money transfers and at one point had their own money transferring agency, Salinas said.
Another way money was laundered was through agreements with Spaniards who have money in tax-free havens. The Spaniards would send the money to China, and then cash was handed over in Spain. The investigation is still ongoing, police said. (eitb.com)