Title: Lithuanian Financial Institution Allegedly Laundered €2BN: 18 Arrested in Coordinated Raid Across Italy, Latvia, and Lithuania

Scandal in the Lithuanian Financial Sector: €2BN Allegedly Laundered Through a Lithuanian Financial Institution

• Eurojust reveals scandal in the Lithuanian financial sector
• Approximately €2 billion allegedly laundered through a Lithuanian financial institution
• Financial transactions described as ‘money laundering as a service’

Collaborative Raids Across Italy, Latvia, and Lithuania

• Coordinated raids across Italy, Latvia, and Lithuania
• 18 suspects arrested, including three ringleaders of the OCG
• Simultaneous raids in multiple locations across Italy, Latvia, and Lithuania
• Arrest warrants issued for all suspects

Money Laundering Services: Making Fictitious Transactions Through a Web of Enterprises

• Financial institution provided money laundering services
• Strawmen owned enterprises used to make fictitious transactions
• Advertised online, established in 2016
• Targeted thousands of criminals across the European Union

Criminal Proceeds Converted into Legitimate Transactions

• Criminals profited from illegally obtained funds
• Financial institution enabled conversion of criminal proceeds
• Extent of transactions yet to be fully established
• Total amount involved reaching nearly €2 billion

International Collaboration: More Than Fifteen EU Member States Involved

• Investigation involves more than fifteen EU member states
• Europol and Eurojust leading efforts
• European Financial and Economic Crime Centre (EFECC) plays pivotal role
• Coordinated effort to combat financial crimes that cross borders

Ongoing Investigation

• Investigation expected to take several months
• Evidence being gathered, suspects being interviewed
• Identification of additional suspects and clarification of financial transactions involved