During the police operation, state law enforcement officers seized assets worth approximately 55 million Brazilian reals ($8.9 million) in various forms. Law enforcement officers conducted searches at the headquarters of a company providing unregistered cryptocurrency services.
Sao Paulo police said the digital platform, whose name was not disclosed, processed crypto transactions worth more than 500 million Brazilian reals ($89 million) through its accounts.
The raid came after Sao Paulo civil police received 20 arrest warrants and 60 search and seizure warrants against individuals linked to First Capital Command in several cities in the state.
The courts have frozen the assets of drug gang members worth more than 8 billion Brazilian reals ($1.4 billion).
In 2022, more than 100 Brazilian police agents raided addresses in three federal states linked to a fraud network controlled by Francisco Valdevino da Silva. According to authorities, Francisco da Silva’s group, also known as the “Bitcoin Sheikh,” was involved in the theft and laundering of more than $700 million in crypto assets.
Source: Bits
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