A federal court in Brazil has sentenced 14 people for laundering more than 508 million reais, approximately 95 million USD, related to international drug trafficking and violent crimes, closing a years-long investigation into a criminal network operating across multiple states. The two ringleaders each received sentences of over 21 years, while the others were sentenced to between 8 and 17 years. All must repay the entire laundered amount, and assets such as seized aircraft and luxury cars will be transferred to the federal government.
The investigation called Operation Terra Fértil has uncovered a sophisticated network of shell companies designed to conceal illicit funding. The prosecutor described the structure as comprising leaders, individuals acting as business owners, and an accounting department specializing in forging financial documents.
This group launders money through sending small bank values, operating fake businesses, foreign exchange transactions, purchasing luxury assets, and international money transfers using the dollar-cabo system as well as cryptocurrencies, including bitcoin. The ruling may still be appealed.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
