US Treasury sanctions Brazilians over crypto laundering scheme as Brazil raids Sao Paulo network
Brazilian federal police enforced prior U.S. sanctions in Sao Paulo raids tied to an alleged PCC-linked laundering network, freezing 1.04 billion reais in funds, physical assets and crypto and arresting one suspect.
Brazilian federal police carried out coordinated raids across Sao Paulo linked to a U.S. Treasury sanctions case involving Brazilian nationals and companies accused of laundering about $30 million in drug proceeds through crypto for a network serving Primeiro Comando da Capital, or PCC. Courts froze 1.04 billion reais in funds, physical assets and crypto. Stella Stefanie Nunes Henrique de Oliveira was arrested, while Victor Henrique de Oliveira Shimada remains at large, according to Bloomberg. The case underscores expanding cross-border coordination and intensifying scrutiny of crypto-enabled money laundering tied to organized crime.
- sanctions: Government penalties restricting financial activity.
- illicit finance: Movement of funds linked to crime.
- laundering: Concealing illegal money’s origin.