Title: “Lithuanian Financial Institution at the Heart of EUR 2 Billion Money Laundering Scandal”

Large-Scale Money Laundering Network Dismantled

Subheading: Judicial and law enforcement agencies in Italy, Latvia, and Lithuania take action against a complex money laundering network

• A Lithuanian financial institution suspected of being at the heart of a EUR 2 billion money laundering scheme has been targeted.
• Two main suspects, now in custody, offered online money laundering services to criminals.
• One of the suspects is also accused of defrauding Italian authorities of EUR 15 million.

The Complex Web of Shell Companies

• An estimated EUR 2 billion moved through intricate networks of shell companies.
• The two main suspects are believed to have played key roles in the criminal organization.

International Cooperation in Combating Financial Crimes

• Agencies from Italy, Latvia, and Lithuania collaborated on the extensive investigation.
• This operation emphasizes the importance of international cooperation in combating financial crimes.

Key Players Arrested

• Two main suspects were arrested for their roles in offering money laundering services.

Organized Crime Group Accused of Defrauding Italian Authorities

• A third main suspect, associated with another organized crime group, was arrested as part of the investigation.
• This suspect is accused of defrauding the Italian authorities of EUR 15 million.
• The stolen funds were laundered through the same network of businesses connected to the Lithuanian financial institution.