Citing a release by Sweden's Economic Crime Authority, SVT said eight people had been arrested following raids in both Stockholm and Rīga on September 24 linked to "suspicions of serious economic money laundering and serious accounting offences."
The alleged money laundering activity is believed to stem from the construction sector.
"The business money laundering is suspected to have been going on since 2021. The criminal activity has been extensive and well organized," said the Economic Crime Authority (EBM), adding that the scheme consisted of enabling a large number of "client companies" to free up money by the use of false invoices to various invoicing companies controlled by the suspects. In total, the various invoicing companies have received approximately half a billion Swedish kronor (around 44 million euros).
"The invoicing companies have been used solely for the purpose of receiving payments for false invoices. The money was used for, among other things, the purchase of cars which were then exported and sold abroad. The suspects subsequently handled money from the car exports by, among other things, returning cash to representatives of the companies that ordered and paid false invoices," said the EBM.
You can listen to the full Radio Sweden report in English below.
