The Civil Police of São Paulo, Brazil, took apart a cash laundering plan handled by the drug gang First Capital Command (PCC) that ran a business running as a crypto exchange, the authorities stated on X (previously Twitter) on Tuesday.
The business performed deals worth around 500 million reais ($89 million), according to a CNN report. Throughout the raid, the authorities took checks worth 55 million reais ($8.9 million) at the business’s head office, whose name was not launched at this time.
The raids occurred after the Civil Police of São Paulo got orders on Tuesday to perform 20 arrest warrants and 60 search and seizure warrants versus individuals connected to the First Capital Command in various cities in the state of São Paulo.
Brazilian courts, on the other hand, have actually obstructed more than 8 billion reais ($1.427 billion) in properties of those associated with the examinations.
The First Capital Command is referred to as Latin America’s greatest gang, with almost 40,000 members and near to 60,000 professionals, according to a current report by The Economist.
Modified by Nikhilesh De.
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