PJ police have led another ‘mega operation’ into organised fraud – this time a criminal network that allegedly used the national banking system to launder funds, moving as much as €209 million.
Almost 70 searches took place in various locations, including a complex in Vila do Conde with around 200 warehouses where products imported from China are re-sold. “This is not the first time that the Varziela area of Vila do Conde have been searched,” note reports, alluding to ‘other tax evasion schemes that have been identified in this location’ (which is why authorities have been keeping it under surveillance).
All told, seven people have been arrested today, another 45 cited as ‘official suspects’ (arguidos). Six properties were also impounded, along with top-of-the-range vehicles, dozens of bank accounts, around €300,000 in cash and sundry items, including IT equipment and firearms.
Other locations targeted were in the boroughs of Espinho, Paredes, Póvoa de Varzim, Porto, Valongo, Vila Franca de Xira and Vila Nova de Gaia.
Dubbed “Cash-a-Lot”, the operation centres on suspicions of “crimes of criminal association’, money-laundering, fiscal fraud and document falsification, practised by an organisation of transnational character, controlled by national and foreign citizens”, according to a statement on the PJ’s website.
The statement says the criminal network used the national banking system to launder money by creating successive companies and bank accounts held by them, through which most of the proceeds flow from Trade Based Money Laundering (a process for disguising profits from illegal activities as legitimate funds, using international trade transactions to conceal the origin of the money).
Once the money had been laundered in Portugal, it was then transferred to accounts in other European countries.
In all, 170 elements of the PJ’s Northern, Braga and Vila Real branches were involved in today’s searches, with collaboration from members of ASAE (food safety entity) and two magistrates from Porto’s regional DIAP (department of investigation and criminal action).
The seven arrested – among them the suspected ring-leader of the organisation, a Chinese man – will be taken to Porto’s Court of Criminal Instruction for initial questioning and a decision on possible bail terms.
Source: SIC/ policiajudiciaria.pt
