![]() The Spanish authorities have said publicly they suspect these groups siphoned up to 1.2 billion euros ($1.4 billion) out of Spain to China between 2009 and the end of 2012. Wang’s warning to Xu is documented in confidential court filings that include wiretap transcripts from a series of police investigations starting in 2009 into Chinese organized crime in Spain. ![]() More complaints would lead to “problems” for the bank, Wang added. “You have to look out for yourself and make sure these people are obedient,” Wang warned. ![]() Wang chided Xu, telling her to make sure that account holders used in the scheme were on board. But there had been a hitch.Įarlier that day, banker Wang said, a woman had come to the branch to complain that transfers were being made from her account without her knowledge. The client, Xu Kai, was an alleged top figure in an international money laundering group that was suspected of using the bank to transfer illegal income to China. The network was allegedly using multiple accounts in the name of Chinese residents of Spain, in some cases without their permission, to make the transfers. Wang Jing was a senior officer at the Madrid branch of the state-controlled Industrial and Commercial Bank of China. on Aug. 8, 2012, two Chinese living in Spain - a banker and her client - held a blunt phone conversation.
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