The police have arrested seven people suspected of money laundering as part of a criminal organisation, with the leaders of the ring still at large, the investigative office of the standby police (KR NNI) said in a statement on police.hu on Tuesday.
International money laundering ring busted
According to the statement, KR NNI received information from foreign agencies indicating that an extensive network in Hungary is laundering proceeds from international drug trafficking and other criminal activities, the Hungarian news agency wrote.
The men suspected of leading the ring, a Hungarian man of Syrian origin, Maradini Talal, and his Syrian associate, Youssef Mahmoud, have fled the authorities, the statement said.
Evidence indicates that the two men transferred funds derived from drug trafficking and other illegal activities to Istanbul and Cyprus, as well as to Greece on a few occasions.
Bundles of cash in Hungary from European Union countries or the Balkan region in hiding places set up for this purpose in vehicles, were then exchanged for larger denominations at an illegal currency exchange in Budapest’s 8th district, and were then transported to their final destination.
Lots of people charged
Both the import and export were carried out by couriers, the statement said. Cars were able to hold up to 1,600,000 euros in concealed cash, while money transported by air was usually vacuum-sealed and hidden in their checked luggage among their clothes, allowing them to smuggle between 260,000 and 880,000 euros per suitcase.
Police raided the criminal organisation on June 3. Five men and five women were charged with high-value money laundering committed as part of a criminal organisation, as well as participation in a criminal organisation.
During searches of their properties, police seized their mobile phones, laptops, data storage devices, various documents, suitcases, as well as packaging materials and bedding sets used to conceal the transport of the money.
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The authorities have also seized 13 vehicles worth 46 million forints, cash and real estate totalling 370 million forints, and froze 126 million forints in bank accounts, confiscating assets worth more than 540 million forints from the members of the criminal ring.
The court ordered the arrest of seven suspects and placed two under criminal supervision, while one is defending himself while free on bail, the report said.
Investigators have issued arrest warrants for Talal Maradini and Youssef Mahmoud.
Check out a video of the action below:
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