The Taiwan police department has announced that it has dismantled a multimillion-dollar money laundering group that emerged during an investment fraud investigation that began in June. According to the police statement, after arresting a suspect in June, it was revealed that this individual had processed over 324.2 million USDT to launder money involved in an investment fraud case that emerged last year.
4 Individuals Arrested for Money Laundering with Cryptocurrency!
As a result of this operation, the police arrested a total of four individuals. The investigation revealed that the fraud group had been transferring funds belonging to victims to fake accounts and providing instructions to move illegal funds to offshore cryptocurrency exchanges or individual cryptocurrency users.
The Fraud Had an International Scope
Furthermore, the police department found that the suspects were in contact with foreign gambling and fraudulent groups. The suspect’s frequent international travel is an indicator of its international dimension.
Finally, the Taiwan police stated that they would seek to identify other individuals and organizations involved in the money laundering network through international cooperation.
Source: The Block