On June 30, 2025, Spain’s Civil Guard announced the dismantling of an international criminal organization in Operation BORRELLI. The group was accused of committing large-scale cryptocurrency fraud and money laundering through a company based in Hong Kong that claimed to invest in FOREX markets.
Investigations, which remain ongoing, led to arrests and raids in Getafe (Madrid), Las Palmas de Gran Canaria, and Santa Lucía de Tirajana. The network reportedly used global sales agents to lure victims into investing money via cash, bank transfers, and crypto transactions.
The criminal group created a complex web of companies and bank accounts and used payment gateways and crypto exchange accounts registered under various names to move and hide illicit funds.
The case is being handled by Spain’s Central Operational Unit (UCO), specifically its Economic and Anti-Corruption Division, under the supervision of Central Court No. 6 and the Public Prosecutor’s Office. The operation also involved EUROPOL and law enforcement agencies from the U.S., Estonia, France, Argentina, Brazil, Colombia, UAE, Hong Kong, Italy, Luxembourg, Mexico, Peru, UK, Singapore, and Sweden.
Authorities warn that the investigation is still open, and further arrests or actions are possible.
