A police source informed agency Lusa about an operation initiated this morning involving searches in the Varziela industrial area, which houses numerous warehouses and a significant concentration of Chinese traders based in Vila do Conde, Porto district, engaged in the import and resale of various products, serving as a major commercial hub.
The Jornal de Notícias, who first reported the searches, noted that the investigation concerns a network specialized in concealing millions in tax evasion profits. It further stated that at the head of the network is a businessman of Chinese origin suspected of being the mastermind behind the money laundering organization, with money allegedly collected almost daily from other entrepreneurs.
These amounts were reportedly funneled outside the legal fiscal circuit to bank accounts for laundering purposes.
State losses could amount to millions of euros.
The same police source indicated that arrest warrants were also issued.
In 2020, more than 1,500 Chinese citizens lived and worked in Vila do Conde, most of them engaged in commercial activities in the Varziela Industrial Zone, managing about 200 warehouses, marking it as the largest Chinese business center in Portugal.
The investigation is overseen by the Regional Department of Investigation and Penal Action (DIAP) of Porto.
