By Julia V. Kurtz
9 October 2024, 11:30 PM GMT+0
Translated by
Eduardo Venegas
11 October 2024, 04:42
IN SUMMARY
The Federal Police dismantled a cryptocurrency money laundering network through Operation Alcaçaria.
62 search and arrest warrants were executed, with seizure of property and embargo of livestock and vehicles.
The group moved more than 1.2 billion reais into shell accounts and converted the money into cryptoassets to send abroad.
The Federal Police (PF) dismantled a network of financial operations that laundered money using cryptoassets. The action took place on October 9 and is part of Operation Alcaçaria.
Furthermore, the actions are related to Operation Privilege, which took place on the same day in several cities in Rio Grande do Sul (RS).
Group that laundered money with cryptocurrencies dismantled
According to the PF, the agents executed 62 search and seizure warrants, 10 preventive arrest warrants and three temporary arrest warrants in nine different states. In addition, the court ordered the seizure of real estate and vehicles and the freezing of funds in the bank accounts of the natural and legal persons under investigation.
Finally, the PF seized a large amount of cattle that was on a rural property linked to one of the ringleaders. The investigation lasted about 3 years. It identified that the organization made deposits of at least 1.2 billion reais in cash in front accounts in the name of orange partners.
The Federal Police (PF) dismantled a network of financial operations that laundered money using cryptoassets. The action took place on October 9 and is part of Operation Alcaçaria.
Furthermore, the actions are related to Operation Privilege, which took place on the same day in several cities in Rio Grande do Sul (RS).
Group that laundered money with cryptocurrencies dismantled
According to the PF, the agents executed 62 search and seizure warrants, 10 preventive arrest warrants and three temporary arrest warrants in nine different states. In addition, the court ordered the seizure of real estate and vehicles and the freezing of funds in the bank accounts of the natural and legal persons under investigation.
Finally, the PF seized a large amount of cattle that was on a rural property linked to one of the ringleaders. The investigation lasted about 3 years. It identified that the organization made deposits of at least 1.2 billion reais in cash in front accounts in the name of orange partners.
These deposits were made every day at bank branches across the country. In addition, agents discovered that some of this money was converted into crypto assets. These funds were then sent to wallets abroad, where they were eventually converted back into dollars to pay drug and weapons suppliers.
With these funds, the PF identified that the group bought, for example, a luxury property in Itapema/SC. In addition, it paid for surgeries for foreigners in high-cost hospitals in São Paulo. The police are still investigating the involvement of more shell companies in the scheme.
There are also suspicions that cryptocurrency exchanges helped convert fiat money into cryptocurrencies. The group will be held responsible for the crimes of criminal organization, money laundering, currency evasion, operation of an illegal financial institution and use of false documents.
Investigated committed other crimes
Four people investigated in Operation Alcaçaria were also being investigated in Operation Privilege, launched the morning of the same day in Rio Grande do Sul.