RealNews

Seven countries to investigate Marbella money laundering scheme

Russian investigators to cooperate with Spanish authorities over Yukos link to case. Prosecutors in at least seven countries confirmed this weekend that they are opening investigations into a money laundering network cracked open by Spanish police in the Costa del Sol last week that is believed to have links to criminal gangs operating across Europe and North America. Investigators from France, the Netherlands, the United Kingdom and Russia are expected to arrive in Spain over the coming days to begin collaborating with Spanish police, while prosecutors in the United States, Canada and Germany are also opening investigations into the network, which allegedly funneled up to €600 million from drugs and arms trafficking, prostitution, theft and fraud through the Del Valle Abogados law firm in Marbella. At least nine known criminal gangs are believed to have used Del Valle Abogados to create front companies through which to launder money by investing it in real estate along the Costa del Sol and moving the gains to tax havens such as the British colony of Gibraltar. Full Story

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