Brazilian and Argentine justice worked together to capture the criminal and dismantle the international criminal network.
Brazil and Argentina flags next to Bitcoin
An operation carried out between the police and judicial systems of Argentina and Brazil resulted in the arrest of a fugitive, captured at the request of the Federal Court of Porto Alegre, after crimes involving money laundering with cryptocurrencies.
The criminal, known as “Olmedo”, is being investigated by the Brazilian justice system for involvement in illegal currency exchange operations, money laundering and illicit association.
Olmedo is an Argentine citizen who, along with his partner, displayed a luxurious lifestyle on social media, using an imported 4×4 pickup truck. The arrest was authorized by Judge Adrián González Charvay, of the Federal Court of Campana, and took place in the gated neighborhood of San Marco, located in Escobar, province of Buenos Aires.
Captured after collaboration between Brazil and Argentina, suspect was laundering money with cryptocurrencies
The arrest was the result of a major investigation that included analysis of public and private databases, as well as information provided by Interpol.
The Brazilian justice system accuses “Olmedo” of being part of the “Argentine Nucleus” of an international criminal organization specialized in money laundering.
As the gang acted as a financial intermediary, it provided bank accounts in Brazil for deposits coming from the “Paraguayan Nucleus” and facilitated the transfer of dollars and USDT cryptocurrencies on the international scene.
Investigations revealed that the group created a parallel banking system, with its own client portfolio. This system was used to pay off debts with suppliers and transfer funds abroad. In addition, it had been operating mainly from São Caetano do Sul, in São Paulo.
The scheme consisted of hiding and moving large sums of money through various deposits, aiming to “clean” these resources and give them the appearance of legality.
Olmedo led the “Argentine Nucleus” and commanded the operations of the “Paraguayan Nucleus”. To do this, he had the help of a collaborator who indicated the Brazilian bank accounts where the illicit funds were received. With information from the Argentine Federal Police, the PFA.
Cryptocurrency money laundering crimes in the sights of authorities
In Brazil, the Justice system has used international cooperation tools, such as Interpol, to track and dismantle criminal organizations operating in the country and in international networks.
The case of the capture of “Olmedo” is just another clear example of coordinated action between countries, with the Federal Court of Porto Alegre issuing arrest warrants and the Argentine authorities carrying out the capture.
Both the Central Bank and the Federal Revenue Service are adapting to the reality of cryptocurrencies, with new regulations that focus on monitoring transactions involving digital assets.
With the implementation of stricter rules, financial institutions and cryptocurrency exchanges are required to report suspicious movements.
In addition, the Federal Police and the Public Prosecutor's Office have conducted in-depth investigations to track the origin and destination of illegal resources moved through cryptocurrencies.
