No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeNewsCosta Rica Busts Major Cryptocurrency Laundering Ring

Costa Rica Busts Major Cryptocurrency Laundering Ring

At least 36 people were arrested this Tuesday in Costa Rica in a vast police operation, including judges, lawyers, and two Spanish ringleaders of the gang dedicated to property theft and money laundering through cryptocurrencies, authorities reported.

The director of the Judicial Investigation Agency (OIJ), Randall Zúñiga, said in a press conference that it is “a fairly consolidated criminal organization” that allegedly “was dedicated to stealing or robbing properties from people in the country and subsequently legitimizing them to third parties.”

According to the investigation, which began two and a half years ago, the network laundered capital from stolen properties through the purchase of cryptocurrencies. “In a single transaction on one particular day, they moved 13 million dollars in bitcoin,” Zúñiga commented.

The gang had the services of cryptocurrency experts, and its ringleaders were two Spanish citizens, aged 41 and 42, without regular migratory status in Costa Rica, he indicated.

During the operation, which involved about 500 OIJ agents, 47 raids were carried out throughout the country. At least 36 were arrested, and others are expected to be apprehended shortly.

Zúñiga specified that all those arrested are charged with crimes of “registry fraud, ideological falsehood, and money laundering.” “Lawyers, notaries, public officials, including five traffic officers, have been arrested,” he added.

The gang had as a “parallel activity” public transportation lines with private buses and used traffic agents to fine their competitors and “be able to take them out of circulation,” the official stated.

“It’s a criminal group that moved a lot of money,” Zúñiga noted. According to the OIJ, at least a hundred properties were stolen, although one of those arrested speaks of up to 300.

Trending Now

Dollar Hits 17-Year Low in Costa Rica as Tourism Feels the Pinch

Costa Rica's tourism industry is under pressure yet again as the US dollar exchange rate on the Monex market dropped to â‚¡498 last Friday...

Direct Flights from Ottawa to Liberia Costa Rica Begin with Porter

Guanacaste Airport rolls out new routes for the high season that started this month, featuring a fresh direct flight from Canada to Liberia. Canadian...

National Espresso Day Contrasts with Costa Rica’s Chorreador Tradition

People across the world today mark National Espresso Day (yes, it has its own day), recognizing the quick, strong coffee pull that originated in...

Costa Rica Tourism Crisis as 22,000 Jobs are Lost in Downturn

Costa Rica's tourism industry faces a sharp downturn, with roughly 22,000 jobs lost in the past year. This drop hits hard in coastal and...

Costa Rica Football Federation Dismisses Coach Miguel Herrera

The Costa Rican Football Federation has ended its partnership with Mexican coach Miguel "El Piojo" Herrera after the national team missed out on the...

Miss Mexico’s Walkout Protest Ends in Miss Universe Victory

Miss Mexico was crowned Miss Universe in Thailand on Friday, strutting to victory after several dramatic missteps before the final round, including staging a walkout...
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica