Brazilian police freeze approximately $196 million in assets of a drug trafficking gang involved in cryptocurrency money laundering
2026-07-27 03:34
Odaily Odaily reports that the Brazilian Federal Police, in Operation Commodity, cracked down on a drug trafficking gang that laundered money through cryptocurrencies. Since 2021, the gang has smuggled over 6.5 tons of cocaine to Europe via the Port of Rio de Janeiro, concealing the drugs in shipments of coffee, cement, and mortar.
The operation covered São Paulo, Minas Gerais, Santa Catarina, and Espírito Santo. Police executed 13 preventive arrest warrants and 44 search and seizure warrants. The court ordered the seizure of assets and the freezing of up to 1 billion Brazilian reais, approximately $196 million.
Police stated that the gang is linked to Primeiro Comando da Capital (PCC) and Comando Vermelho (CV), and laundered money through a luxury car dealership in the Greater São Paulo area and shell companies. The dealership sold vehicles such as Ferrari, Porsche, Corvette, and Land Rover.
Those involved used shell companies to issue invoices lacking supporting documents, funneling drug trafficking proceeds into the Brazilian financial system and using cryptocurrencies to conceal transactions. The suspects will be held accountable for charges including transnational criminal organization, international drug trafficking, and money laundering.
The operation covered São Paulo, Minas Gerais, Santa Catarina, and Espírito Santo. Police executed 13 preventive arrest warrants and 44 search and seizure warrants. The court ordered the seizure of assets and the freezing of up to 1 billion Brazilian reais, approximately $196 million.
Police stated that the gang is linked to Primeiro Comando da Capital (PCC) and Comando Vermelho (CV), and laundered money through a luxury car dealership in the Greater São Paulo area and shell companies. The dealership sold vehicles such as Ferrari, Porsche, Corvette, and Land Rover.
Those involved used shell companies to issue invoices lacking supporting documents, funneling drug trafficking proceeds into the Brazilian financial system and using cryptocurrencies to conceal transactions. The suspects will be held accountable for charges including transnational criminal organization, international drug trafficking, and money laundering.
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