Tuesday, May 24, 2005

Spanish Police smash Costa drugs ring

• Gibraltar registered company named in investigation

Spanish Police have smashed a large-scale drugs ring operating from Ceuta and laundering its proceeds in the Costa del Sol.

According to a spokesman for the Spanish Spanish Ministry of the Interior (Ministerio del Interior), police arrested three men – two Moroccans and a Spaniard – involved in trafficking cannabis into the mainland and other criminal activities.

Meanwhile the Spanish authorities have identified a Gibraltar registered company that is allegedly linked to the three arrested men.

Property belonging to the money laundering network worth over ten million euros and various bank account deposits totalling almost half a million euros, has also been seized by police.

Spanish police say that the criminal networks dismantled in 2005 are responsible for laundering over 500 million euros.

Meanwhile reacting to the news, Izquierda Unida Malaga MP Antonio Romero has declared that the Madrid central Government “should not tolerate the existence of a fiscal paradise in Gibraltar until 2010.”

Sr Romero further alleged that “Gibraltar is a key location for money laundering and drug trafficking activities in the Costa del Sol.”

Sr Romero further described Gibraltar as “ a washing machine of illegal money.”


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