Italian prosecutors are seeking to prosecute about 300 suspects and the Bank of China’s Milan branch (BOC) for money-laundering.
The suspects includes mostly migrants from China who live in Italy and also four senior managers of the Bank.
On Saturday, Italy’s ANSA news agency reported that prosecutors said some suspects were acting like the mafia and intimidating people by demanding money.
Florentine prosecutors said that about 4.5 billion euros ($5 billion) were provided by counterfeiting, prostitution, labour exploitation and tax evasion and were smuggled from Italy to China between 2006 and 2010 using a money-transfer service called Money2Money.
Money was transferred in small amounts and different Chinese names.
The bank received at least 700,000 euros ($795,000) with the wire money transfer activities as a commission.
Four senior managers of the bank was also indicted for hiding report of the transfers.
Florentine prosecutor prepared 170 paged investigation document which will lead the case process. A judge will decide whether the Bank of China and other 300 suspects will face trial.
In 2008 Italian authorities launched an investigation against Chinese crime syndicates in Tuscany region of Italy.
After the garment factory fire in which seven Chinese workers were left dead, the Tuscan region started to attract attention with its underground economy. Most of the Chinese migrants live in the region.
According to Tuscany’s regional governor, some of the factories were related with Chinese organised crime.