RATE Group | Dutch Authorities Arrest Two Men for Alleged Crypto Money Laundering
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Dutch Authorities Arrest Two Men for Alleged Crypto Money Laundering

20 Feb Dutch Authorities Arrest Two Men for Alleged Crypto Money Laundering

Posted at 11:52h in Cryptocurrency News by

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The Dutch Fiscal Intelligence and Investigation Service (FIOD) has arrested two men for allegedly laundering money with cryptocurrencies.

According to a statement released by the International Revenue Service on Feb. 18, the two men were arrested on Feb. 17 in connection to two separate criminal investigations into money laundering using cryptocurrencies. Both investigations were led by the National Office for Serious Fraud, Environmental Crime and Asset Confiscation.

The money trail

One of the suspects was a 45-year-old man who is accused of laundering 2.1 million euros. He purportedly used large purchases with a cryptocurrency-backed credit card that the Netherlands tax authorities could not explain based on his income and assets.

He also allegedly withdrew 10,000 euros (nearly $10,800) in cash. Several of his possessions were seized, including three kilograms of gold, 260,000 euros in crypto (over $280,000) debit and credit cards, a car and luxury goods such as watches and…

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