Police raid headquarters of alleged money-laundering operation
Police in Prague say they’ve uncovered a huge money-laundering operation located in the city centre. According to the police anti-corruption unit, a firm based on Prague’s Narodni street had laundered hundreds of millions of dollars, apparently via a bureau de change and a complex of holiday apartments.
A spokesman did confirm to the media, however, that the operation was part of an investigation into a huge money-laundering business. A spokesman for the police anti-corruption unit quoted in Lidové Noviny newspaper said at least 5.3 billion Czech crowns, which is just three hundred million U.S. dollars, had been laundered and taken out of the country.
A security expert contacted by the paper said bureaux de change were an ideal way of laundering large sums of money, because they keep far fewer details of transactions. But he also said he was sceptical that so much money could have been laundered in such a short time. So far police are not saying where they believe the money has come from, but the usual candidates are profits from prostitution, the sale of weapons and drugs.