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Spanish Authorities Arrest Suspected Money Launderer Linked to Kinahan Clan

Spanish authorities have arrested a man suspected to be one of Europe’s most prolific money launderers as part of a major international law enforcement operation targeting the U.S.-blacklisted Irish Kinahan drug cartel.

Europol, the EU’s law enforcement agency, said in a statement Thursday that Spain’s Guardia Civil took into custody the unnamed suspect and two of his associates, while U.K. authorities arrested another member of the gang, during a dozen dawn raids on properties in Spain and the United Kingdom on Monday.

The primary suspect, who is subject to U.S. sanctions over his links to the Kinahan clan, and his associates over an 18-month period laundered more than €200 million worth of illicit cash for criminal groups across the globe through an underground banking network, and used shell companies and a premium vodka brand to hide the source of their profits, Europol said. may update this coverage as more information becomes available.
Topics : Anti-money laundering
Source: Spain , European Union
Document Date: September 15, 2022