The Swiss police have detained three crypto criminals involving money laundering
Swiss police have arrested three crypto criminals of a cryptocurrency program related to money laundering. Police officers seized a series of luxury properties and confiscated millions of CHF.
Crypto criminals involved in money laundering in Zurich
It seems that Zurich, Switzerland, has long been considered one of the places where the policy of crypto-friendliness is quite good, with the so-called Crypto Valley located in Zug. However, it seems that because of cryptocurrency-friendly policies, cryptocurrency crimes are increasing in Switzerland.
Crypto criminals are no stranger to this country. On February 4, 2020, the state police in Zurich, in cooperation with the state prosecutor’s office of the state of Zurich, conducted a joint action regarding suspected money laundering concerning fraudulent exchanges. Specifically, three men suspected of laundering money with cryptocurrencies were arrested by Zurich police in the state of Graubünden. These include St. Gallen, Ticino, Zug, and Zurich. They have confiscated many luxury properties, along with millions of Swiss Francs frozen in their bank accounts. Eight luxury cars were seized in eleven searches for the home.
In-depth investigations by the Zurich State Police’s commercial crime investigation division, the Prosecutor’s Office III of Zurich State, and the Federal Office of Federal Policepol joined the investigation process. One in three has been suspected of transferring large, illegal amounts of money from digital exchanges and through binary options trading into his bank accounts in Switzerland and the country apart to hide the criminal origins of money.
Two associates with him were arrested in a coordinated interference act. Further investigations are being carried out by the Zurich state police and the Zurich III prosecutor’s office. Cantonal police stated that three people were arrested during operations carried out by police in cooperation with prosecutors from Zurich and federal officials.
During operations, raids in about a dozen locations have been carried out, including Zug, the cryptocurrency valley.
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