Brazil Police Raids Gang, Alleges Crypto Use for Laundering Illegal Gold Mining
Brazil’s federal police conducted a Thursday operation against an alleged criminal group that used crypto tokens for laundering illegal gold mining money.
Five people were arrested by police and 60 search warrants and seizures were issued during the operation.
According to federal police, Greed was a related operation that involved health care companies that had, at least since 2012, laundered money from illegal mining of gold in the northern state Rondonia. According to the police, the criminal group used its own cryptocurrency token to transfer billions of dollars.
It was created by one the group’s shell corporations and used to “justify” the gold extractions, it stated.
Federal police conducted a banking analysis and found that the group had moved over 16 billion reais ($3 Billion) through its bank accounts between 2019-2021.
Police claimed that the group also owned a mining company that used invalid environmental permits to launder gold from illegal mines in northern parts of the country.
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