On July 1, 2025, the Guardia Civil announced the dismantling of two criminal organizations laundering up to €400,000 daily through the trade of precious metals like gold and silver. As part of Operation “Fenicio-Diávolo 24,” 19 people have been arrested, and six individuals along with eight companies are under investigation.
The investigation began in April 2024 after discovering that companies in Córdoba were receiving large daily cash deposits from criminal groups to funnel illicit money into the legal financial system. The main laundering operation was coordinated from an office in Córdoba, with networks extending to Madrid, Salamanca, and Zamora, transporting cash to buy irregular gold. This gold was then sold through jewelry businesses in Córdoba’s Jewelry Park to reintroduce the money into the legitimate market.
The criminal network used “shell” companies managed by front men and performed bank transfers to disguise the illicit origin of funds. The laundered money was sent back to the original clients, a violent Asian-origin criminal group, linked to drug trafficking and other crimes, which collected daily cash from various Asian-owned businesses, possibly evading taxes.
The laundered funds were ultimately sent to companies controlled by the Asian group in countries with limited international cooperation, such as China.
Following a judicial order from Córdoba’s court, authorities carried out 20 raids across Córdoba, Zamora, Salamanca, Sevilla, and Madrid, including a precious metals refinery inspection in Madrid. The raids seized over €615,000 in cash, approximately 12.5 kg of gold valued around €1.15 million, 15.2 kg of silver, numerous untraceable jewels, cash-counting machines, two pistols, ammunition, eight vehicles (two with hidden compartments), and extensive documentation pending analysis.
The operation was led by Córdoba’s Economic Crimes Unit, supported by regional and national anti-laundering teams, forming a joint investigation team to tackle the sophisticated scheme.
