Agents of the Spanish National Police, in collaboration with that of the Netherlands, intervened for 17 million dollars cryptocurrencies coming from scams And technological fraudin what constitutes the largest seizure of virtual currencies in Europe linked to organizations dedicated to drug trafficking.
During the operation, officers arrested three people of Dutch origin, including the leader of the criminal group who had settled in Marbella For launder money which he obtained through fraud through the acquisition of valuable movable and immovable property which he placed in the name of third parties, according to sources from the National Police.
The main suspect, who changed his address every week to make it difficult to locate him, used instant messaging applications to make himself known and gain the trust of his victims who made transfers to him to convert their cryptocurrencies into currency, according to these sources.
There were three recordingsone in the Netherlands and two in Spain (in Mijas and Marbella), thanks to which more than 850,000 euros in cash, 16 high-end watches, a large number of cell phones and jewelry worth more than a half a million have been recovered. been seized.
The investigation, the police explain in a note, began when agents learned that an individual, after committing major scams with cryptocurrencies, had settled in our country to hide and try to launder money. money obtained fraudulently. Likewise, investigations focused on his parents, who allegedly collaborated in money laundering.
The “over-the-counter” method
The main investigator carried out the cryptocurrency scams through the fraud known as ‘Over The Counter’ (OTC), which consists of economic transactions that do not take place through the Stock Exchange, but are formalized directly between two parts, explains the National Police. It is a type of negotiation in which the parties involved buy and sell assets directly, without public intermediaries, through which both parties agree on terms and prices privately. This lack of control was taken advantage of by the person investigated to carry out his illicit activity.
On the other hand, the now detained man used instant messaging applications to present himself as a trusted person to carry out different transactions with cryptocurrencies. The victims contacted him in order to convert their virtual currencies in current currency. They first made a transfer, usually small amounts, which he resolved satisfactorily, gaining their trust. However, in subsequent transfers, the victims increased the amount of cryptocurrencies transferred and the person under investigation no longer sent regular currency, thus illegally increasing their virtual currency holdings.
Agents discovered that the lead investigator had defrauded victims from different European countries, including members of international criminal organizations based on the Costa del Sol, whose leaders intended to launder the money obtained through their illicit activities, continue police sources.
Change of address
Information from the National Police details the countless security measures adopted by the arrested person. He changed his address every week, passed through different holiday homes and always took with him the computer equipment necessary to carry out his illegal activity. This made locating him very difficult, because when officers knew where he was, he moved to another house. Additionally, regarding cryptocurrencies, she made transfers to what were called “cold” wallets so that no trusted person who knew the passwords and “seed” words could transfer them. In this way, it made it difficult for the police to act.
Finally, investigators carried out a search in the Netherlands, during which they located more than half a million euros and a large quantity of luxury effects. Subsequently, in a house belonging to relatives of the main investigator, agents discovered a safe containing 238,000 euros in cash and watches worth more than 600,000 euros in addition to numerous documents and cell phones. Likewise, they located numerous jewelry And big brand clothingeffects which in total would have a value which could exceed half a million euros.
Police investigations made it possible to locate the chief at the beginning of last September, in Marbella (Málaga), where he was arrested as a suspected perpetrator of crimes against property, and a European arrest and extradition order was also in force. During the search of his home, watches, luxury items and more than 16,000 euros in cash were seized.
This is one of the largest seizures of cryptocurrencies in Europe, from a single person, linked to criminal organizations dedicated to drug trafficking.
European funding
Agents of the National Police, in collaboration with the National Police of the Netherlands, carried out this operation with financing instruments from the European Union, according to information from the Spanish Police. This strategy focuses on four key points: establishing a sustainable security environment, combating emerging threats, protecting European citizens against terrorism and organized crime and forging a strong European security ecosystem.
To achieve these objectives, the Directorate-General for Migration and Home Affairs (DG HOME) of the European Commission, in collaboration with EU agencies and specific EU funds, such as Internal Security Fund (ISF), support Member States in the fight against criminal threats through coordinated operations aimed at dismantling criminal networks and their business models. The interventions carried out under this program have been co-financed by the European Union, as part of the support to Member States to combat criminal networks which pose the most significant threats to the security of EU citizens and the Union as a whole.
