Spanish lawyer convicted of money laundering in one of Europe’s biggest money laundering rings

By Christine Duhaime | April 2nd, 2011

Spanish lawyer Fernando del Valle, whom we wrote about here, was convicted of money laundering and sentenced to six years in prison and ordered to pay $3.4 million in fines. Authorities believe del Valle laundered up to $250 million through his law firm in Spain’s exclusive Marbella region. The case was one of the largest in Europe. Investigators from several countries including Canada, the U.S. and Germany helped Spanish authorities uncover evidence which led to the seizure of more than $72 million in accounts in 28 different banks. Del Valle laundered the funds through a maze of elaborate shell corporations he set up that were controlled through his law firm.

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