US EditionBrazil Police Target Network that Siphoned Billions From Fuel Sector
Brazilian police uncovered a network laundering $9.6 billion over four years via investment funds and fintech firms linked to the First Capital Command gang, officials said.
- On Thursday, Brazilian authorities launched a major operation involving 1,400 officers who carried out 350 warrants for searches and seizures across twelve states, including key locations such as Sao Paulo and Rio de Janeiro.
- The operation targets a criminal network linked to the First Capital Command suspected of economic crimes, fuel adulteration, money laundering, and controlling investment funds worth about 30 billion reais.
- Investigators uncovered that the group operated methanol import schemes through Paranaguá port, sold adulterated fuel via over 1,000 gas stations with coercion tactics, and laundered billions through fintechs acting as parallel banks.
- Justice Minister Ricardo Lewandowski described the event as among the biggest crackdowns on organized crime ever conducted, with authorities confiscating a large number of vehicles and properties, two vessels, and over 300 thousand reais in cash.
- The crackdown aims to dismantle sophisticated money-laundering mechanisms harming public security, tax collection, and fair competition in Brazil's fuel sector, with broad support from Petrobras and other major distributors.
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Multimillion dollar sums laundered through gas stations and placed in financial institutions: Brazilian authorities beat organized crime on Thursday in one of the "biggest operations" against these gangs in the history of the country, reports AFP. The gigantic network of fraud and money laundering used fintechs and about 40 investment funds [...] Entry Brazil hits organized crime that laundered in the fuel sector was first published in Foco Info…
More than 400 warrants were served in at least eight states The post Operations against crime in the fuel sector blocked R$3.2 billion appeared first on Monitor Mercantil.
The Federal Receipt identified a scheme for the sound and money-laundering in the fuel sector that was supposed to be ordered by PCC (First Capital Command). According to research, formners, distributors and fuel stations, in addition to convenience shops and disasters were used for money-laundering.
An operation sponsored by the MPSP (Minister of the Public of São Paulo) revealed a wide and billions of fraud schemes in the fuel sector and placed the country's main criminal offence at the centre of research. The mega operation, called “Curbone Hidden”, aims to dismantrate a billion fraud scheme in the fuel sector with the infiltration of PCC (First Command of the Capital). Quality and quantitative frauds have been detected in more than a tho…
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