Spanish Police Bust Drugs Gang Hiding Their Activities By Using Cryptocurrencies

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Published:  9 Apr at 6 PM
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Spanish national police have arrested seven members of a drug-trafficking gang using cryptocurrencies to hide their illegal activities.

The investigation was sparked by a police discovery of a cannabis farm hidden in a house in Algeciras, one of three illegal cannabis plantations raided and destroyed, along with a stash of plants hidden in a Barcelona warehouse. In total, over 3,000 cannabis plants were found, as was documentation showing the gang had made use of fake companies to cover their operations. Five of the gang were arrested in Algeciras, with two more found in Barcelona, and a total of five of the accused were immediately jailed.

Spanish police had a field day seizing around €2,000 in cash and specialised computer equipment worth around €115,000, allegedly used for monitoring and managing cryptocurrency accounts. A further 60 bank accounts were also seized, along with nine properties linked to the gang. Unsurprisingly, several of those arrested were experts in computer accounting and finance. Recently, Spain has become known as a hub for crimes involving drug trafficking as well as for being the number one destination for cocaine grown in Mexico and illegally imported into Europe.

At the same time, the Spanish cities of Granada, Sevilla and Malaga in Andalusia were voted tops for their cultural offerings but were beaten at the post by the top three, Barcelona, Madrid and Valencia. Whilst Spain is most famous for its weather, low cost of living and huge British expat community, the country’s magnificent cultural heritage has won it a large number of World Heritage Sites including museums, ancient buildings, cathedrals and theatres. A must-see for every expat and tourist is Granada’s Alhambra palace and fortress, a glorious remnant of Spain’s years under Muslim rulers as well as its later use by Renaissance monarchs.



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