On August 8, according to CoinDesk, the police in Sao Paulo, Brazil, dismantled a money laundering scheme managed by the drug gang "First Capital Command" (PCC, First Capital Command), which operated through a company that acted as a cryptocurrency exchange. According to CNN, the company traded about 500 million reais (89 million dollars). During the raid, police seized checks worth 55 million reais (8.90 million dollars) at the company's headquarters.
The raids, carried out in response to orders received by São Paulo's civilian police on Tuesday, involved 20 arrest warrants and 60 search and seizure warrants. Brazilian courts also froze assets of more than R $8 billion ($1.427 billion) of those involved. The PCC is the largest gang in Latin America with nearly 40,000 members and about 60,000 contract workers, according to a report by The Economist.
Brazilian police smash cryptocurrency money laundering scheme of drug gang PCC
2024-08-08 02:32:30
News coindesk reports Brazil sao paulo police drugs gangs first songdesk3cryptocurrencydesktopCrypto News
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