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DNH 2021 DNH 2021 · 11/09/2022
· Society

Charges raised against 5 Chinese men for money laundering

Money laundering

Photo: facebook.com/NAVprofil

The Pest central county court has charged eight people with money laundering of over 210 million forints (EUR 510,000) committed in a criminal gang, in a case that had also been investigated by the European anti-fraud office OLAF, the chief prosecutor’s office said on Friday.

According to the charges, two criminal gangs operated in 2019-2020 and their activities were connected to the sale of Chinese products in Europe. One of them was involved in submitting 5-10-times lower customs values for products than the real value in order to reduce the costs of customs clearance, the statement said.

In an effort to maximise profits, the Chinese products were distributed throughout the EU with the help of fictitious companies in order to avoid paying VAT.

The other criminal gang led by a 37 year-old Chinese man organised the transfer of cash income from Spain through France, Italy, Slovenia and Budapest to Turkey where the money was deposited in Chinese bank accounts.

  • Read also: VIDEO: Young girls drugged and forced into prostitution in Budapest

Money transporters travelled by car to Budapest and then flew to Istanbul. An investigating team was set up by the authorities of Italy, Slovenia, France and Hungary, with the participation of Eurojust. OLAF and Europol also got involved in the work.

Charges have been raised against 3 Hungarian and 5 Chinese men for money laundering and the production and use of counterfeit documents.

Featured image: illustration

budapest airport ferihegy
Read alsoSuspicious package found at Budapest Airport – authority acted swiftly

Source: MTI

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1 Comment

  1. Why ??? says:
    11/09/2022 at 08:55

    Why still in Budapest, Hungary – cash only businesses – that are Chinese run and operated ?
    Invites bit of the “laundering” activity.

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