Spanish police dismantle drug money-laundering network with two arrests in Malaga province and 700,000 euros and 100 kilos of silver seized

The National Police have dismantled an alleged drug money-laundering network, with 14 arrests in Malaga, Madrid, Barcelona and Menorca.

According to a police statement, the ringleader was Ignacio Torán, who was linked to the former head of the Udef (financial and economic crime unit) in Madrid, Óscar Sánchez. Sánchez's name appeared in the news a few years ago, when he was caught hiding 20 million euros from drug-trafficking in his home.

Two of the arrests were made in Malaga, ten in Madrid, one in Barcelona and one in Menorca. Among the detainees are two National Police officers. All have been brought before the judicial authorities on suspicion of criminal organisation membership, money-laundering, receiving stolen goods, document forgery and bribery.

In the 18 raids in Madrid (14), Guadalajara (one), Tarragona (one), Barcelona (one) and Malaga (one), the police seized 700,000 euros in cash, 3,600 dollars, 100 kilos of silver worth more than 115,000 euros, crypto assets worth 187,000 US dollars, NFC cards with double security system for the storage of cryptos, six luxury watches worth more than 160,000 euros and three vehicles.

They have also blocked four properties valued at almost 1,500,000 euros.

According to the National Police, Torán used a company dedicated to providing safe deposit box services to store large amounts of cash and carry out financial exchanges.

The network had chosen Madrid as its logistical base and Barcelona as its cryptocurrency exchange hub. Torán and his partner directed and coordinated through front men who allowed them to deposit vast amounts of cash in a short period.

Subsequently, they converted it into cryptocurrencies through a provider, managing to transfer more than 53 million euros in a single year.

Initial investigations confirmed that nearly 30 million in USDT cryptocurrencies were transferred to a single public address between July 2023 and November 2024. Furthermore, the investigation revealed that they had financed the purchase of a ship that was intercepted by French authorities with 400 kilos of cocaine.

The investigators found that the leader and his partner had fled Spain in 2024, leaving the business activity paralysed and transferring it to other investors, although they continued to control some of these boxes that were in their name and in the name of third parties.

In February, the pair returned to Spain, reactivating their activity through new workers.

After months of investigation, the police revealed that these simulated legal transactions, designed to justify profits, allegedly allowed them to add four properties to their assets since 2023, valued at nearly 1,500,000 euros, with the actual market value being significantly higher than the acquisition cost.

The main source of funding for the purchase of these properties was cash income or national and international transfers received from companies controlled by the organisation, simulating legal transactions to justify these contributions of funds.

Currently, the investigation remains open and further arrests and seizures are not ruled out.

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