Algeria Gate: Spanish authorities have dismantled one of the largest money-laundering networks operating in Europe, a criminal structure known as the “Dubai Bank” or “Drug Bank” that provided financial services to some of the continent’s top cocaine traffickers. The operation led to the arrest of 21 people across several countries and the seizure of assets valued at approximately €20 million.
According to Spanish police, the network specialized in financing cocaine shipments, moving funds internationally outside the formal banking system, and using cryptocurrencies to settle transactions and launder proceeds. The investigation was coordinated by the Special Anti-Drug Prosecutor’s Office of Spain’s National Court and targeted individuals regarded as key figures in international cocaine-trafficking networks. Among them was a man known as “the Tiger,” who allegedly managed the network, along with other prominent members of organized crime operating from Dubai.
Encarnación Ortega, head of Spain’s money-laundering inspectors, underscored the network’s critical role: “Without this financing, it would not have been possible to move these shipments from one country to another, and drug trafficking on this scale could not have taken place.”
Of the 21 arrested, 14 were detained in Spain and seven in other countries. Twelve additional suspects remain at large.
The probe originated from the 2021 seizure of 1.84 tonnes of cocaine aboard the vessel Niher. Police later determined that the ship was deliberately sunk in the port of Gijón in northern Spain in an attempt to conceal a second shipment of 1.65 tonnes.
Authorities confiscated 121 bank accounts containing €2.3 million, 48 properties valued at more than €14 million, luxury vehicles worth over €1.6 million, and additional assets.
Investigators highlighted Dubai’s role as a central financial hub for drug traffickers. The emirate served both as a primary base for consolidating drug proceeds and as a command centre for coordinating logistical operations with maritime clans involved in cocaine trafficking.
The operation represents a significant blow to the financial infrastructure supporting large-scale cocaine trafficking into Europe.



