Record 13 Tons of Cocaine Seized in Spain, Unraveling Vast Drug Ring

Spanish authorities have dismantled a sophisticated international drug trafficking and money laundering ring, seizing a record 13 tons of cocaine. The drugs arrived hidden in a container of bananas from Latin America at the port of Algeciras in southern Spain.

The investigation, which began in the fall of 2024, revealed a multi-layered network extending from maritime transport and offshore companies to real estate investments, financial services, and even cryptocurrency trading. Spanish judicial authorities are piecing together a complex financial system allegedly used to launder illicit proceeds.

At the heart of the operation, authorities identified businessman Ignacio Torán as the alleged coordinator of the ring. Close to Torán was Óscar Sánchez, a senior officer in the Spanish national police responsible for combating money laundering. Investigators claim Sánchez leveraged his position to shield the network's activities. A search of his residence uncovered approximately 20 million euros in cash concealed within the walls.

Both Torán and Sánchez have been detained, though no formal charges have been filed yet. Their lawyers deny the accusations and dispute the evidence presented by prosecutors. The investigation also examines the role of Alpha Trading, a company founded in California by American investor Ketan Seth and Francisco de Borbón, a distant relative of King Felipe VI, in potentially moving funds through Panamanian and other offshore structures.