Major Money Laundering Scheme Dismantled in Equatorial Guinea Connection
A joint operation by Spanish, Portuguese authorities, Europol, and other international agencies has led to the dismantling of a complex money laundering scheme involving over €10 million from public works in Equatorial Guinea. The plot was orchestrated by a Dutch citizen living on the island of Mallorca.
Key Findings of the Investigation
- Eight individuals have been charged with money laundering and tax fraud crimes, including two currently under arrest.
- Several companies linked to the plot have been implicated, with assets worth over €5 million seized.
- The operation, dubbed “Run out,” was initiated by Spain’s Customs Surveillance Service in 2021 after connections were made to a similar investigation underway in Portugal.
Complex International Corporate Structure
The Spanish investigation revealed evidence of the concealment of funds of alleged criminal origin through shell and instrumental companies. A home search was conducted on the Dutch citizen at the center of the plot, resulting in the seizure of over 13,000 documents and 43 electronic devices containing valuable information.
- The investigation uncovered a complex international corporate structure used to channel illegal commissions, with connections to trusts and companies based in countries such as Cape Verde, Liechtenstein, Cyprus, Belize, and Holland.
- Funds were allegedly stored in investments controlled by the plot’s organizer in Spain and Holland.
- Real estate investments in Mallorca and the Netherlands were used to conceal a significant portion of the embezzlement.
Properties Transferred and Investments Made
- Properties valued at over €3.5 million were transferred to shell companies linked to the plot.
- Investments worth over €7 million were made in a well-known cosmetics brand in the Netherlands.
Investigation Highlights Complex International Money Laundering Schemes
The operation highlights the complexity of international money laundering schemes and the need for cooperation between law enforcement agencies to combat these crimes. The investigation required extensive analysis of financial, commercial, and corporate operations, as well as the processing and analysis of physical and digital documentation seized during house searches.