Brazilian Police Bust Major Crypto Money Laundering Scheme Linked to Drug Cartel

São Paulo's Civil Police have uncovered and dismantled a major money laundering operation linked to the drug cartel First Capital Command (PCC).

The operation was disguised as a cryptocurrency exchange, handling around 500 million reais (approximately $89 million).

During the crackdown, police seized checks totaling 55 million reais ($8.9 million) from the company’s undisclosed headquarters.

The raids, which followed orders for 20 arrests and 60 search and seizure operations, targeted individuals connected to the PCC across various cities in São Paulo.

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In related actions, Brazilian courts have frozen over 8 billion reais ($1.427 billion) in assets tied to the suspects.

The First Capital Command, described by The Economist as Latin America’s largest gang, boasts nearly 40,000 members and around 60,000 affiliates.

Alexander Stefanov