36 Members Apprehended for Costa Rican Bitcoin Money Laundering Scheme 

5 Min Read
IDG Blockchain U2U Network

The latest crypto news has focused on the issues of fraud and crypto money laundering. The most recent crypto update captures the Costa Rican Bitcoin money laundering scheme. The Bit Journal notes that the scheme involved 36 individuals who were arrested by Costa Rica Law enforcement agents. The laundering used Bitcoin (BTC) as an undetectable medium. The general crypto industry is concerned about the regulatory changes that may amount to this event. The criminal organization was apprehended on Tuesday, which pays off an effort that started two and a half years ago. 

The latest crypto news highlighted that the Judicial Investigation organization powered the investigation that revealed these criminal activities. These crimes included bus line fraud, property and real estate scams, and money laundering, which offered the criminal gang millions of dollars. What baffled the crypto community is the involvement of high-profile officials and experts. This is a big win for the Costa Rican Authorities. 

Bitcoin Money Laundering Scheme  Criminal Organization and Operations

The report by the OIJ, as highlighted in the crypto update, shows the diversity of the criminal group. The involvement of lawyers, Judges, traffic police officers, and officials from the Ministry of Public Transport was confirmed. Some key players from the public ministry were also involved in the crime. Two Spanish ring leaders named Leon, aged 41, and Gomez, aged 42, were also identified with the criminal group.  Quoting the Director at OIJ, Randall Zúñiga, the group is a “fairly consolidated criminal organization” that strips people of their assets and legitimizes them to third parties. 

Money Laundering Through Cryptocurrencies

The Costa Rica Bitcoin Money Laundering Scheme involved laundering money acquired from stolen properties. In the crypto update, Zúñiga stated, “in a single transaction on one particular day, they moved $13 million in Bitcoin.” The gang had experts with vast crypto knowledge who provided them with technical details that made the whole scheme look authentic and professional. The method employed allowed the movement of large sums of money while remaining under the radar, complicating the efforts of the enforcement bodies that were on the case. 

Costa Rican Bitcoin Money Laundering Scheme
Costa Rican Bitcoin Money Laundering Scheme

Bus Line Fraud and Other Scams

Advertisement Banner

The Bit Journal noted that apart from money laundering, the Costa Rican Bitcoin Money Laundering Scheme has been involved in running bus lines and using traffic officers to clear out any competition by providing fake lines. The investigation kicked off in 2021 after five traffic officers enacted fake lines on bus drivers and their companies in San Jose. “phony tickets” were issued to public transport companies and buses in Puntarenas Province on the Caldera Beach route. This reflects the degree of networking and connection possessed by the gang. 

Bitcoin Money Laundering Scheme  Further Raids and Ongoing Investigations

Nationwide Raids

The  Costa Rican Bitcoin money laundering scheme investigation is still ongoing, and it has expanded to include 500 OIJ agents who have conducted about 47 raids across the region. The crypto community expects more arrests before Bitcoin and Ethereum (BTC ETH). Once these events are not curbed, investors will shy away from Bitcoin and Ethereum (BTC ETC). The raids have led to fewer Bitcoin and Ethereum (BTC ETH) money laundering activities. 

Property Fraud and Additional Crimes

The investigation extends to a “possible property fraud” orchestrated by the gang. The Costa Rican Bitcoin Money Laundering Scheme assessed a catalogue of land people residing in foreign countries owned. It issued fake property transfer documents, allowing new owners to legitimize the asset. Over 300 assets were recorded under this category, which also includes luxury vehicles, jewellery, and other high-value investments. The raid confiscated an AR-15 weapon, 38 vehicles, and 13 buses. 

The Zip Up – Impact and Future Implication

The Costa Rican Bitcoin Money Laundering Scheme has caused the loss of high-value assets and has raised a regulatory question on the utility of cryptocurrencies. The operation “Motherland” has been victorious, disrupting a key crypto money laundering scheme. Another issue raised is corruption among high-level officials within the government. As the investigation continues, more raids and arrests are expected to be recorded. This will control any Bitcoin and Ethereum (BTC ETH) laundering scheme. 



The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.

You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.

Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.

Share This Article
I am Celestina, an experienced Content writer with a proven track record of crafting compelling, SEO-optimized content that enhances brand visibility and drives user engagement. Leveraging my expertise in SEO writing and content strategy, I have successfully helped numerous cryptocurrency brands strengthen their online presence and attract targeted audiences.
Leave a comment