Couple in Ireland charged over money laundering operation | Weekly Words of Wisdom

A couple in Blackrock, Dublin in Ireland, have been denied bail over charges related to a €21 million international money laundering scheme. Jixu and Ye Wang are accused of holding proceeds of crime in digital accounts between September 2022 and February 2023. 

The Garda Dublin East economic crime unit, with Europol and police in Germany, Spain, Switzerland, and the UK, linked the couple to suspected investment fraud. A €10,000 transfer to Mr. Wang’s digital account triggered the investigation, revealing €5 million in 1,894 unusual transactions and €2.1 million from 733 transactions in Ms. Wang’s account. Despite being unemployed, the couple had over €7 million in accounts and €14.7 million in cryptocurrency wallets, with €4.4 million seized. 

During a search, Gardaí found €20,000 in cash, gold coins, and cryptocurrency wallet seed words. Charged under the Criminal Justice Act, the couple, who have a young child, face up to 14 years in prison, with potentially more serious charges pending.