The suspect was detained under an international arrest warrant and now faces extradition proceedings before Spain’s National Court
A man wanted by Russian authorities over an alleged €26 million fraud involving fictitious oil transactions has been arrested in Orihuela Costa.
The National Police detained the suspect after receiving information indicating that he could be hiding in Alicante province. Officers launched an operation to establish his whereabouts, eventually locating and arresting him on the Orihuela coastline.
The man was the subject of an international arrest warrant issued by the Russian authorities in connection with a large-scale fraud and money-laundering investigation.
According to information contained in the warrant, the suspect allegedly created and operated a network of companies used to carry out fictitious purchases and sales of oil.
Investigators claim the fraudulent transactions enabled him and his associates to obtain more than 2.6 billion Russian roubles, equivalent to approximately €26 million.
The proceeds were then allegedly channelled through other companies in an attempt to conceal their origin and integrate the money into the legitimate financial system.
Russian authorities are seeking the suspect to serve or face a potential prison sentence of up to ten years for the alleged offences.
The National Police said the arrest was made possible through the exchange of intelligence and close coordination between Spanish investigators and international law-enforcement authorities.
After being taken into custody, the man was brought before the Central Court of Investigation at Spain’s National Court in Madrid.
The court will now oversee the extradition proceedings requested by Russia and determine whether the detainee should be surrendered to the Russian authorities.
The arrest is the latest example of the Costa Blanca being used as a hiding place by internationally wanted fugitives, with Spanish police regularly carrying out operations to locate suspects believed to be living under the radar in the province’s large expatriate communities.
