ON
🔍
← Back to feed
United StatesCrime5 days ago

Italy Dismantles Underground Bank that Moved €100 Million a year for Organized Crime Groups

Italian authorities have dismantled an underground illegal bank operating since 2021, which moved up to 100 million euros annually to fund drug trafficking and organized crime groups. The bank, headquartered in Prato, had branches across Europe and served Italian mafia organizations such as the 'Ndrangheta, Camorra, and Sacra Corona Unita. A Florence investigating judge issued 41 arrest warrants and seized assets worth over 60 million euros.

Italian authorities have dismantled a major underground illegal bank that moved up to 100 million euros ($116 million) annually to finance operations for domestic and international drug traffickers and organized crime syndicates, police announced Monday.

The illicit bank, operated since 2021 by a Chinese national, is believed to have processed payments between 80 and 100 million euros ($93-116 million) a year over at least a three-year period. Headquartered in the Tuscan city of Prato, the bank had established branches in Spain, Portugal, Belgium, France, and the Netherlands. According to investigators, among the bank's clients were the Italian mafia organizations 'Ndrangheta, Camorra, and Sacra Corona Unita.

The crackdown resulted in a Florence investigating judge issuing 41 arrest warrants for Italian, Chinese, and Albanian nationals and the seizure of assets worth over 60 million euros ($69.6 million).

Read the full article at OCCRP →
Source document: Italian police announcement

1 reports

OCCRPIndependentCenter5 days ago
Italy Dismantles Underground Bank that Moved €100 Million a year for Organized Crime Groups

Italian authorities have dismantled an underground illegal bank operating since 2021, which moved up to 100 million euros annually to fund drug trafficking and organized crime groups. The bank, headquartered in Prato, had branches across Europe and served Italian mafia organizations such as the 'Ndrangheta, Camorra, and Sacra Corona Unita. A Florence investigating judge issued 41 arrest warrants and seized assets worth over 60 million euros.

Bias read (Center): The article presents factual information without overtly biased language, framing, or emphasis. It reports on law enforcement actions against criminal networks without taking a stance on related political issues.

Official sources cited

  • government Italian police announcement
  • government Florence investigating judge

Go to the primary sources (2)

The official sources this coverage is built on. Read them directly to bypass framing.

  • governmentItalian police announcement
  • governmentFlorence investigating judge