80 million in drug money pumped into Spanish real estate
Dutch 'banker' drug gang arrested in Spain

CALPE - A 51-year-old Dutchman was arrested in southeastern Spain on suspicion of money laundering from drug criminals. According to Spanish media, the man was recently arrested in Calpe, 55 kilometers northeast of Alicante.

He would launder income from cocaine smugglers mainly through a real estate trade in Alfaz del Pi, not far from Calpe. It would involve more than 80 million euros in drug money that was brought in from the Netherlands and pumped around in Spanish real estate. The suspect is said to be the son of a leader of a Dutch gang of drug smugglers.

The arrestee has already been handed over to the Netherlands according to reports from Europa Press. The investigation into this gang started in the Netherlands in 2017 after the discovery of more than 3200 kilos of cocaine in a load of bananas from Latin America.