Nearly 20 million Euros in suspicious transfers from Gibraltar, says anti-money laundering agency

Nearly 20 million Euros in suspicious transfers from Gibraltar have been detected by the Spanish anti-money laundering agency, Sepblac, which is part of the Bank of Spain.

This is in relation to the alleged stamp scandal in Spain, which has led to a number of directors from two philatelic companies, Forum Filatelico and Afinsa, being jailed while further investigations take place.

Three stamp companies in Spain, linked to directors of Forum Filatelico, received transfers from Gibraltar in 2003 of large sums of money which were considered 'irregular', according to Sepblanc.

The transfers from Gibraltar are said to be linked to a Gibraltar company which served to hide the real identity of its proprietor, a Spanish businessman, said the anti-money laundering agency, according to a report in El Pais.

Once the money from the 'supposed philatelic company in Gibraltar reached the firms linked to Forum, these companies forwarded the money to other bank accounts in Switzerland and Andorra," is is claimed.

The suspected aim of these money transfers was to launder in Spain money which came from illicit activities, says the report. The comings and goings of such capital, changing hands up to four times, would normally end in property operations in the Costa del Sol, it is claimed.




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