Two men have been apprehended in the Netherlands by the Fiscal Intelligence and Investigation Service in relation to a money laundering scheme involving digital currencies.
According to the official statement they were arrested on Monday, February 17, in two separate criminal investigations, headed by the National Office for Serious Fraud, Environmental Crime, and Asset Confiscation.
The first accused is suspected in being directly involved in the laundering of approximately $2.27 million from crypto scams. The investigation uncovered large purchases with a crypto wallet, as well as several big cash withdrawals without sufficient explanation for the source of the funds.
Furthermore, the authorities confiscated property of the accused which amounted to some three kilograms of gold, $280 000 in crypto and credit cards, as well as luxury items such as watches, jewelry and an automobile.
The second arrest concerned the substantially smaller amount of $108 000. According to information from the press, the accused utilized a digital currency mixing platform to cover his tracks from past illegal crypto transactions. There have been more and more cases where cryptocurrency mixing and tumbler services have been put to use to smear the transaction data and render the transaction sources untraceable. In this way any digital asset may be cleared from involvement in illegal or shady activity.