• Switzerland's news in English
 
app_header_v3

Drug racket laundered €100 million: minister

AFP · 16 Oct 2012, 09:04

Published: 16 Oct 2012 09:04 GMT+02:00

"Several tonnes of cannabis have been recovered and they account for about €40 million," Valls told reporters, referring to busts last week that saw 17 parallel arrests with a deputy mayor of a Paris district, Florence Lamblin of the Green Party, among those charged in the case.

Valls said the laundering scheme was "linked to the drug smuggling racket and was easily estimated at €100 million (121 million francs $129 million)."

The main Swiss suspect in the case has been arrested and his brother, a wealth manager with the HSBC Geneva bank, has also been detained.

A raid on the Geneva home of one of the brothers led to the discovery of €800,000 in cash, and 160 watches and jewels worth an estimated €2 million in a hidden safe, Swiss newspaper Le Temps had reported.

The main suspect's lawyer Stickel-Circurel told Le Temps Monday that her client had knowingly helped tax evaders, "but he had no idea where the money came from."

A third person, a woman working for the main suspect, was also arrested along with the two brothers last Wednesday. She has been set free but must remain available for questioning.

Story continues below…

Those arrested and released were freed on bail of between €80,000 and €1 million, a judiciary source said.

A source close to the case said police had found several million euros in cash and goods during the searches of suspects homes and safe deposit in both countries.

Your comments about this article

Today's headlines
Confirmed cases of Zika virus soar in Switzerland
The virus is on the march in Switzerland too. Photo: AFP

Switzerland has registered 28 cases of the birth-defect causing Zika virus since the start of the year.

Flooding leads to chaos in central Switzerland
The storm left a trail of devastation in Pfäffikon. Photo: Schwyz cantonal police

The fire brigade in the canton of Schwyz had a busy night dealing with flooding emergencies.

  Solar plane completes epic round-the-world trip
The journey ended in Abu Dhabi. Photo: Solar Impulse

Solar Impulse 2 has landed in the UAE, completing its epic round-the-world journey.

Switzerland mulls alarm text message service
A mobile text warning system could be introduced: Photo: Katwarn.de

A text message alarm system could be used to warn people in the event of a terror attack.

Swiss solar plane nears end of epic trip
Solar Impulse is close to its goal. Photo: Solar Impulse

Solar Impulse 2 is approaching the end of its epic bid to become the first sun-powered plane to circle the globe without fuel.

Man arrested in forest murder case
A walker found the woman's body in the forest. File photo: Patrick Nouhailler

Police arrest an illegal immigrant over the killing of a woman in the canton of Bern last week.

Terror fears trigger Swiss run on guns
More people want to own a gun. Photo: kecko.jpg

Applications for gun licences soar in Switzerland amid growing insecurity.

Mountain biker survives icy plunge into the Rhine
The rescue services managed to winch the man to safety. Photo: Graubünden police

A Swiss mountain biker had a lucky escape after toppling into the Rhine river.

No blanket IOC doping ban for Russian athletes
The IOC ruled that 800m runner Yuliya Stepanova, who turned whistleblower on doping in Russian athletics, could not go to Rio even as a neutral. Photo: AFP

At a meeting in Lausanne on Sunday, the International Olympic Committee on Sunday ordered individual sports federations to decide whether Russian competitors should take part in the Rio Games after failing to agree on a complete ban over Russia's state-run doping.

Van Gogh, Monet paintings seized in Malaysia graft probe
The works were seized following a request from the United States, one of several countries probing alleged massive fraud at the Malaysian state fund 1MDB. Photo: AFP

Switzerland has seized a painting by Vincent Van Gogh and two others by Claude Monet as part of the global investigation into Malaysia's scandal-tainted sovereign wealth fund, an official said on Friday.

Sponsored Article
Avoid hidden fees when sending money overseas
Photo: Grand Tours Project
Features
Why you should get on your bike in Switzerland
Photo: The Local
Society
Swiss village tells landlords: don’t rent homes to refugees
Photo: Rolf Krahl/Christophe G
International
Survey: world willing to pay more for ‘Swissness’
Sponsored Article
Why expats choose international health insurance
Photo: The Local
International
Chaos in Como after Swiss send back refugees
Sponsored Article
Why you should attend an international job fair
Photo: AFP/The Local
Lifestyle
Nine top celebrity hotspots in Switzerland
Photo: Graubunden police
National
World-class Swiss climber Norbert Joos dies on ‘home mountain’
Photo: Kathleen Waters
Society
Italian ‘ignored’ by Swiss schools in language wars
Sponsored Article
Five things Americans should know about voting abroad
Photo: Whitepod
Features
The quirkiest places to stay in Switzerland
Sponsored Article
Why Swiss hospitality graduates are in demand
International
Migrant busted trying to sneak into Switzerland in a suitcase
Photo: Jonathan Kos-Read
National
Basel suffers wettest six months for 150 years
Photo: Georges Gobet/AFP
Technology
Why Swiss science could suffer badly from Brexit fallout
Sponsored Article
Avoid hidden fees when sending money overseas
Photo: Robert Valencia
International
Swiss couple in Nicaragua told to give back adopted daughter
Photo: Zurich cantonal police
National
Police hunt prisoner on the run in Zurich murder case
Photo: Christoph G
Politics
Switzerland sets out law on expelling foreign criminals
Sponsored Article
Why you should attend an international job fair
Photo: Bernacqua
Lifestyle
Drone shocks nudists at Swiss waterpark
Photo: Basel Justice and Security Dept
Lifestyle
New signs lay down law and order for Basel prostitutes
Sponsored Article
Why Swiss hospitality graduates are in demand
Photo: Daniel Orth
Education
Muslim school kids denied passport for refusing swimming lessons
Photo: Emmanuel Dunand/AFP
Politics
Swiss-EU talks ‘must’ resume this summer, says President
Sponsored Article
Why expats choose international health insurance
File photo: Kochtopf
National
Anger as Swiss council plans non-pork school lunches
File photo: Jen/Flickr
Society
Geneva could get 'café fellatio' by end of year
Features
How Switzerland's scenery inspired some of the world's greatest authors
4,606
jobs available