Police arrest a money laundering group using cryptocurrencies in Paraguay

A mega operation against an international money laundering program resulted in the arrest of several Argentines and Chinese suspected of buying cryptocurrencies in Paraguay, on the border with Brazil, to cover up crimes.

The Policía de Seguridad Aeroportuaria (PSA) in Argentina was responsible for enforcing the search, seizure and arrest warrants. The suspects have been transferred to a prison and remain at the disposal of the local judiciary.

The criminal organization is affiliated with a chain of Chinese supermarkets based in Argentina. The main line of the investigation concerns crimes against the economic and financial order, including money laundering.

Chinese and Argentines suspected of buying cryptocurrencies for crimes traveled to Paraguay

PSA executed 26 arrest warrants in the Buenos Aires metropolitan area, one of which took place in Puerto Iguazú (Misiones), a city located in the Triple Border Region, 18 kilometers from the Iguazu Falls.

During the action, in addition to fraud documents, the police also found various belongings of the suspects of crimes. The agents detained 15 people and hijacked 16 vehicles, more than $600,000 and 24 million pesos in cash, gold, firearms and ammunition.

In addition, money counters, a cryptocurrency mining machine and other evidence were present at the premises.

The research started in 2020

The investigation began in June 2020 under the direction of the Argentine Federal Public Prosecutor’s Office, after a National Gendarmerie control vehicle seized nearly five million pesos hidden under the seat of a car in a province of Buenos Aires.

PSA agents examined the mobile phones seized from the occupants and deepened the investigation.

Investigators discovered the existence of an organization consisting of a broad structure led by Chinese citizens with Argentine and Colombian partners.

With the main purpose of laundering goods, its employees collected money in supermarkets to transport it hidden in hidden funds from cars to bureaux de change and money laundering companies.

On other occasions, the suspects traveled to the triple border to cross overland into Paraguay. They also conducted cryptocurrency operations and used “oranges” to hide their assets.

As a result, the police seized 16 luxury vehicles, 639,418 dollars, 24,104,763 pesos, 16,155 euros, 4,000,604 guaranis among other cash coins, 407 grams of gold and two cryptocurrency cold wallets.

Those arrested in the operation are two women and thirteen men, who remain incommunicado and at the disposal of the Federal Court. The case is one of the biggest schemes uncovered by Argentine authorities, and the investigation continues in search of identifying more suspects.

Source: Live Coins

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