Police bust global credit card ring

2011-07-12 11:33

Madrid - Police in six countries have dismantled the world’s largest credit card falsification network, detaining 60 people, Spanish police sources said on Tuesday.

The arrests were made in Spain, Bulgaria, Italy, the United States, Poland and Germany.

The ring, known as Noshtnia, earned nearly €150 000 a week, the sources said. It had been active for nine years, and laundered its earnings by investing in construction and public works in Kenya, Cyprus, South Africa and Russia.

Police confiscated property worth more than €15m.