German money laundering in Mallorca: Real estate agent arrested!

German money laundering in Mallorca: Real estate agent arrested!

Palma, Spanien - A German real estate agent has been arrested in Mallorca because he is suspected of having operated money laundering for a drug clan. The Spanish national police announced that the man of a drug dealer is said to have helped covering around 280,000 euros from drug trafficking. This happened through a complex financial transaction that included accounts in several countries, including Spain, Luxembourg, Germany, Lithuania and Belgium. According to the police, a loan contract with a female accomplice of the clan was notarized to carry out this transaction. The suspect confessed after his arrest that the loan was intended to finance a real estate purchase, as ZVW reported .

This arrest is part of a comprehensive investigation campaign against a drug dealer based in Palma. Nine other people had already been arrested in connection with these investigations and numerous properties, vehicles and bank accounts had been confiscated. The authorities fear that in the event of a conviction with prison terms of up to six years and high fines of a total of three million euros, the accused will fear that Mallorca Zeitung reported .