The amount of money blocked in bank accounts and cryptocurrencies could reach R$9 billion, authorities involved in the search revealed. The suspects were sending money to China, the United Arab Emirates, the United States and Hong Kong, and may have moved R$55 billion over the last three years.
PF agents serving warrants for Operation Niflheim. Disclosure/PF in Caxias do Sul.
In a PF operation with support from the Federal Revenue Service this Tuesday (10), the targets are suspected of operating a cryptocurrency scheme that moved 55 billion reais in the last three years.
The actions took place in several states in Brazil and people living in the US are also on the list of those being investigated. The PF did not disclose which companies the warrants were served against.
In any case, the three groups targeted by the investigation may have up to R$9 billion in cryptocurrencies and bank accounts blocked. The PF is investigating whether there is a connection between the three groups, which may operate jointly for the same purpose.
Federal Police and Revenue launch operation against cryptocurrency scheme and request bank and asset freezes in crypto brokerages worth up to R$9 billion
Dubbed Operation Niflheim, the action is being carried out to dismantle three criminal groups operating in the cryptocurrency market, suspected of money laundering and sending foreign currency abroad, with the main destinations being the United States, Hong Kong, the United Arab Emirates and China.
To carry out the operation, 130 federal police officers and 20 Federal Revenue Service employees were mobilized, who served 8 arrest warrants and 19 search and seizure warrants in the cities of Caxias do Sul/RS, São Paulo/SP, Fortaleza/CE, and Brasília/DF.
The Federal Court ordered the blocking of amounts in bank accounts and cryptocurrency brokerages of those investigated in more than R$9 billion, in addition to the seizure of vehicles and properties.
Federal Police sees cryptocurrency movements of up to R$55 billion since 2021
The investigation began in September 2021 and identified that the criminal groups' activities involved several layers of financial operations. Based on the illicit origin of the funds, mainly from drug trafficking and smuggling “clients”, the groups under investigation would use shell companies and other mechanisms to make it difficult for authorities to track the money.
Upon receiving the funds, the groups would be responsible for sending the funds abroad using cryptocurrencies. Since the beginning of the investigation, the suspects have moved more than R$55 billion, the investigation found.
The three groups targeted by Operation Niflheim operate in an organized manner and maintain relationships with each other. At the end of the investigation, based on the information collected, they may be considered a single criminal organization. The leaders of the groups operate from the cities of Caxias do Sul/RS and Orlando (USA).
The crimes investigated are money laundering or concealment of assets, crimes against the national financial system, ideological falsehood, criminal association, criminal organization and crimes against the tax system. With information from the Federal Police in Caxias.
Without names of suspects and companies under investigation, check the list of warrants served by the PF and IRS by city:
Caxias do Sul/RS: 5 arrest warrants and 10 search and seizure warrants
São Paulo/SP: 3 arrest warrants and 4 search and seizure warrants
Fortaleza/CE: 4 search and seizure warrants
Brasília/DF: 1 search and seizure warrant