Italian police arrested 30 people accused of running an underground bank for organized crime from a car-rental business near Milan, and seized €21 million in assets, including cryptocurrency. Sixteen suspects were taken into custody and 14 placed under house arrest; two arrests were made in Spain and one in Switzerland.
Prosecutors say shell companies issued more than €110 million in invoices for services never provided and that the network moved about €68 million abroad. Bloomberg reported that some funds passed through crypto exchanges into wallets controlled by the network. A financial police inspector was placed under house arrest on corruption charges, while investigators accused a Milan court employee of leaking information.
