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The National Police of Spain arrested five individuals in the so-called Operation Rapax, which dismantled an alleged criminal organization accused of public subsidy fraud and money laundering, following an alleged diversion of nearly seven million euros in loans from the state program Reindus (Program for Reindustrialization and Strengthening of Industrial Competitiveness).
According to local media, the investigation conducted by agents specialized in economic crimes and money laundering in Seville has revealed that Cuba is one of the destinations for the diverted funds.
The investigation began following a complaint from the Ministry of Industry regarding the non-payment of two loans granted through Reindus, a regional aid program aimed at fostering sustainable development in the area through the regeneration and/or creation of industrial fabric.
According to the website of the Ministry of Tourism in Spain, the program primarily operates in disadvantaged areas, promoting investment in both industrial infrastructure and productive business initiatives.
Investigations confirm that the amount allegedly embezzled totaled nearly seven million euros.
According to the Police, the loans were requested through two independent applications, filed under the names of two distinct entities, but the investigation revealed that both companies were interconnected and acted in a coordinated manner.
To obtain the funds, the individuals involved would have submitted false documentation, faking investments and industrial operations that were never carried out.
The trail of money: Cuba appears among the destinations
Once the public funds were granted, the detainees allegedly created a “complex commercial and corporate network” consisting of over 15 companies both national and international.
That scheme led investigators to trace the money trail to countries like Cuba, Panama, Costa Rica, Saudi Arabia, with the goal —according to the report— of diverting the funds and giving them a façade of legality.
With judicial authorization, the agents executed the blocking of 48 bank accounts linked to the scheme and carried out three searches in the province of Cádiz: Zahara de la Sierra, San Fernando, and El Puerto de Santa María.
During the raids, the police seized over 80,000 euros in cash, as well as electronic devices and "extensive documentation" that is currently under analysis.
Among those arrested are the alleged leaders of the organization and three relatives identified as frontmen to conceal the origin and destination of the money.
The five detainees have already been brought before the court. The police have kept the investigation open and do not rule out further actions or arrests.
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