Charlie Smith
SEVEN people have been arrested as police bust a drug trafficking gang who hid their profits using cryptocurrencies.
A Policia Nacional investigation began when officers discovered a house in Algeciras used to grow cannabis.
The criminal network, which extended up to Barcelona, also used fake companies names in order to cover their tracks.
Three growth labs were dismantled by agents and 1,000 plants (52kg of cannabis) were seized, as well as a further 2,000 plants in a Barcelona warehouse.
Five were detained in Algeciras and two in Barcelona, five of whom were jailed immediately.
Police also seized €2,000 in cash and €115,000 in computer equipment used for managing cryptocurrencies.
Meanwhile, 60 bank accounts and nine properties linked to those arrested, were also blocked.
The group are believed to have used two different cryptocurrencies to extract the profits made from drug dealing.
Among the gang’s members were experts in financial and computer accounting.
