Judge Moreno continues with the investigation of money laundering allegedly developed from branches in Spain
The judge of the National CourtIsmael Morenohas agreed on the final archiving and dismissal of the actions related to the European branch of the Chinese bankICBCbased in Luxembourg. The magistrate continues to investigate the main cause in which a total of four physical persons have already appropriated 20 million euros to face the possible payment of sanctions.
The Central Court of Instruction No. 2 of the National Court investigates the Chinese financial institution for alleged money laundering and establishes the possible participation of the general directors of the ICBC (Industrial and Commercial Bank of China) or other executives in concealment or concealment tasks of the criminal origin of the funds investigated linked to operations of the operationShakeand theEmperor operation, Servimedia reports.
ICBC was established in Spain and 2011 with two branches in Madrid and Barcelona. His business focused on capturing the cash of his nationals, who physically go to the branch of Recoletos street, in Madrid, with the cash in backpacks, bags and cash remittance boxes that were paid in accounts of their societies or in personal, to transfer them quickly to China, within a laundering structure "that is consummated with the arrival of money to China", as indicated by the judge's order.
In this way, ICBC "functioned as a laundering channel for illegal income originated in the submerged economies of tax fraud and smuggling of criminal organizations investigated" in operations such asEmperor,SnakeorToys, among other.
With this system, the respondents favored "massive cash transfers between the years 2011 to 2014, for approximately 90 million euros." According to the magistrate, these funds come from "smuggling for false declarations of infravalue in Spanish Customs, fraud on import VAT declarations, internal VAT fraud, forgeries in commercial and official documents and crimes against industrial property."
The investigation indicates that these organizations introduce containers almost lost in the European Union, which "generated a chain of successive opaque sales and huge sums of cash from the submerged economy."
Thus, the bank, tried to hide the massive payments in accounts, cutting the amounts in amounts less than 50,000 euros of mandatory declaration for Foreign Currency Trafficking and sneaking them to the supervisory authorities. The income amounts are also divided among various companies linked to the organizationsSnakeYEmperor, which acted in Cobo Calleja, as the epicenter of trade in Chinese products.
In addition, the judge believes that the bank undertook "maneuvers to conceal transactions and transfers from its clients when it was aware that they were being investigated. The ICBC did not accurately identify the investigated clients or report suspicious operations of a group of 78 clients to the laundering control bodies and justifying operations with modified invoices, prior to the required date or whose debts were not reflected in the account.
The Hearing continues therefore investigating the main piece in which "revealing evidence" of possible money laundering perpetrated "by employees and managers of a series of branches of Caixabank SA (with which the ICBC had an agreement) in the province of Madrid ".
The magistrate understands, however, that the persons investigated did not act on behalf of the European branch of the Chinese bank based in Luxembourg and that there was "no exchange of operational information of that branch with the groupsSnakeYCheqia, so that the case file for the aforementioned branch proceeds. The Fiscala Anticorrupcin has supported the definitive case file for ICBC Luxembourg.
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(tagsToTranslate) economy (t) police and justice – magistracy (t) ICBC (t) National Court (t) China (t) branch