Published On: Fri, May 10th, 2013

Chinese-Moroccan Money-laundering gang Arrested In Spain


By Samira Arabi

Morocco News Tribune


Agadir, Morocco | Spanish authorities said on Thursday they arrested a network of Moroccan and Chinese origins who laundered hundreds of thousands of euros a week in drug money.

Spanish police apprehended two persons from China, one suspect from Hong Kong and three others from Morocco in raids at locations including a major Chinese trading estate near the spanish capital Madrid, according to a police statement.


The suspects sold hashish that was smuggled from Morocco to Spain, which was distributed to other European countries such as Britain, France, and then laundered the money via wholesale purchases of clothes and jewellery.


The police statement said 21 million items of clothing were seized which were worth more than 100 million euros (US$131 million) as well as luxury cars and jewels and watches worth four million euros, according to the Business Times.