Police catches Israeli money-laundering gang caught in Budapest, recovers money

Budapest police have so far recovered HUF 3.1 billion (EUR 8.3 million) from a money-laundering crime ring operating in Hungary run by Israelis, Péter Farkas, head of the police’s economic crimes department said on Tuesday.

He said the leaders of the ring were detained in Budapest in May last year. The police have so far seized 18 valuable properties, luxury Land Rovers, cash, bank and bitcoin accounts worth a combined HUF 3.1 billion, he said, adding that the sum was 60 percent of the money generated through the gang’s activities.