Italy Police Break Up International Money Laundering Ring in Rome

By Steve Scherer, ROME Wed Dec 17, 2014 2:27pm EST

(Reuters) – Italian finance police on Wednesday arrested 17 people accused of running an international money laundering ring through a British-based money transfer services company which was used to shuttle illegal proceeds abroad, mostly to China.

Managers of Rome branches of Sigue Global Services Ltd. were among those suspected of international conspiracy and money laundering that investigators said amounted to more than 1 billion euros ($1.24 billion) in just over two years.

The bulk of the cash leaving Italy went to China in hundreds of thousands of transactions just under the limit – now set at 1,000 euros – at which stringent money laundering regulations are applied, finance police Colonel Claudio Petrozziello told reporters.

No taxes were paid on any of the money transferred, causing a loss of about 500 million euros to the Italian state, Petrozziello said.

A man who identified himself as a manager at Sigue’s British headquarters said the company’s branches in 50 countries operated independently and local owners signed contracts pledging to respect money laundering laws.

Sigue “is not involved in any criminal activity”, said the manager, who spoke on condition of anonymity because he said he was not authorized to speak to the media.

Italy, the euro zone’s third-biggest economy, has one of the highest rates of tax evasion in the European Union. Earlier this year, the country’s Court of Accounts estimated it to be as much as 130 billion euros per year.

“We were shocked by the numbers,” Rome prosecutor Nello Rossi, who led the investigation, told reporters. “It’s money laundering of a scale that saps the country’s wealth.”

With Italy’s economy steeped in its third recession in six years, Italian Prime Minister Matteo Renzi plans to reap 3.5 billion euros in revenue by cracking down on tax evasion next year.

Of the 18 warrants issued, some were held under hour arrest rather than taken into custody. One man, the regional director of Sigue’s activities around Rome, was not found and was suspected to be in Greece, investigators said.

(Editing by Alison Williams)

source »

We can help bring down the Cabal and defeat the Depopulation Agenda

Big Pharma is one of the sources of funds for the Cabal. It also serves as the weapon of mass destruction via vaccine tainted with live virus it is suppose to protect us from, and the deadly chemicals use to treat our diseases that they caused through our GMO / pesticide contaminated food supply.

We can avoid using drugs, defeat any viral attack and scaremongering easily by knowing how to build our own comprehensive antiviral system. Find more about it here.

Health & Medicine - Top Blogs  Philippines

We do appreciate sensible comments...

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.