€150m property empire seized in cocaine trafficking case

Prosecutors have seized assets worth an estimated €150m in a case against a network accused of moving more than 50 tonnes of cocaine from Latin America to Europe.

The frozen assets include hotels, villas, apartments, company shares, bank accounts and resort properties across Albania.

Investigators say almost nine tonnes of cocaine were seized in five operations in Belgium, the Netherlands, Ecuador and Colombia between 2020 and 2021.

Ten Albanian suspects are wanted. One has been arrested, two are believed to be in Albania and seven are thought to be abroad.

Prosecutors say drug profits were brought into Albania in cash and invested in construction, real estate and hospitality businesses.