Spain’s Ministry of Finance reported that Tax Agency Customs Surveillance officials and National Police officers arrested 21 people in Palma on suspicion of money laundering and membership in a criminal organization. Authorities seized 48 properties and estimate that homes worth about EUR 20 million were acquired with proceeds from drug trafficking. The operation followed more than a year of analysis into the alleged investment of drug proceeds in properties around the La Soledad neighborhood. Investigators identified the use of nominees, unregistered private purchase contracts and family donations to obscure ownership and the source of funds. Evidence from bank accounts, notarial records and tax returns led to 14 searches, during which authorities also recovered vehicles, jewelry, firearms, drugs and documents. The investigation remains open, with further arrests possible in the coming days.
Spain’s Ministry of Finance reports 21 arrests and seizure of 48 properties in money laundering operation
Spain’s Tax Agency and National Police arrested 21 people on suspicion of money laundering and membership in a criminal organization. Authorities seized 48 properties and estimate that homes worth about EUR 20 million were purchased with drug trafficking proceeds. The investigation remains open.