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Spanish police make fifth arrest in Russian money laundering ring

30/01/13 01:05 CET

The deputy mayor of a Spanish coastal resort has been arrested as part of expanding inquiry into money laundering.

Josep Valls was taken into custody over claims he used a local football club in Lloret de Mar on the Costa Brava as a front for a Russian mafia multi-million euro operation.

Detectives believe the network is linked to one of the ten criminals most wanted by the FBI. Four people have already been detained over the affair including Russian estate agent, Andrei Petrov, who’s the presumed head of the laundering ring.

During his arrest on Friday, police found a Kalachnikov rifle at his home. Authorities believe the funds come from Russia and passed through a third “fiscal paradise country” before being used to buy property and fund other diverse investments on the Costa Brava.

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