Woofun AI reports that the Osaka Prefectural Police have detained three male suspects on charges of violating the Organized Crime Punishment Law. The arrests stem from allegations that the individuals laundered criminal proceeds on behalf of an investment fraud syndicate.

The suspects, identified as over-the-counter traders facilitating peer-to-peer transactions outside regulated exchanges, converted approximately 14 million yen from ten victims across six prefectures into stablecoins and other cryptocurrencies. This conversion aimed to obscure the origin of the illicit funds. Authorities believe these individuals were integral to a larger money laundering operation valued in the billions of yen.