Italy Busts Mafia 'Secret Bank' That Laundered Money Through Crypto, Seizes $24M
Summary
Italian police arrested 30 people accused of operating an underground bank for organized crime from a car-rental business near Milan. Authorities seized €21 million in assets, including cryptocurrency. Prosecutors say shell companies issued more than €110 million in fake invoices and the network moved about €68 million abroad. Funds were routed through banks in Luxembourg, Lithuania and Germany, then through crypto exchanges to wallets controlled by the group. The network allegedly exchanged cash from drug traffickers for cryptocurrency or bank transfers and handled proceeds from online crypto investment scams. The operation targeted suspects linked to the ’Ndrangheta, Camorra and other crime groups.
