Published: November 29 2023
Budapest prosecutors have brought money-laundering charges against a gang that operated in Hungary between 2007 and 2014. The gang was involved in laundering HUF 46 billion (EUR 121 million) of drug money for Colombian drug dealers.
The Gang's Operation
The gang, led by a Vietnamese national who had moved to Budapest in the late 1980s, smuggled euros and dollars into Hungary and deposited them into bank accounts in Hungary and Slovakia. The gang members, 19 of whom were Hungarian, were contracted by the Vietnamese leader to launder drug money primarily linked to cocaine distribution in the Netherlands, Belgium, Germany, and Spain. The profits were then transferred to companies in Asia.
Charges and Penalties
The prosecutor is seeking prison terms and fines for the gang members involved in the money-laundering operation. Additionally, they are seeking the expulsion of the Vietnamese defendant.
Questions & Answers
What are the charges brought against the gang operating in Budapest? The gang has been charged with money laundering.
How long did the gang operate in Hungary? The gang operated in Hungary between 2007 and 2014.
How much drug money did the gang launder? The gang laundered HUF 46 billion (EUR 121 million) of drug money.
How did the gang smuggle the money to Hungary? The gang smuggled euros and dollars to Hungary.
Where did the gang deposit the laundered money? The gang deposited the laundered money in bank accounts in Hungary and Slovakia.
Who led the gang? The gang was led by a Vietnamese national who moved to Budapest in the late 1980s.
Who did the gang have a deal with? The gang had a deal with Colombian drug dealers.
What was the main drug linked to the money laundering operation? The main drug linked to the money laundering operation was cocaine.
In which countries was the drug distribution linked to the money laundering operation taking place? The drug distribution linked to the money laundering operation took place in the Netherlands, Belgium, Germany, and Spain.
Where were the gains from the money laundering operation transferred? The gains from the money laundering operation were transferred to companies in Asia.
What punishments are the prosecutors seeking for the members of the gang? The prosecutors are seeking prison terms and fines for the members of the gang.
What is the prosecutors seeking for the Vietnamese leader of the gang? The prosecutors are seeking the expulsion of the Vietnamese leader of the gang.
