Police crack down on Brazilians, Italians in money laundering ring

Transnational money laundering and criminal organization are the target of operation I Conti on Tuesday (Oct. 25). The Federal Police, in collaboration with federal prosecutors and the Federal Revenue Service, are serving seven search and seizure warrants at addresses located in the cities of Joinville and Itapoá, in Santa Catarina state, in South Brazil.

“The probes indicate that a group of Italian nationals and their Brazilian accomplices created a number of shell companies, which are believed to have been used to launder money of criminal origin, sent from abroad for investment and concealment in Brazil through the acquisition of more than 300 properties on the coast of Santa Catarina,” the Federal Police said in a statement.

Thanks to international cooperation efforts, the Brazilian police learned that six of the Italians involved in the scheme have criminal records in Italy linked to fraud, forgery, and money laundering.

The evidence will be examined along with the information submitted as part of the international cooperation. After that, the authorities should make a decision on the use of the sequestered assets and the accountability of the individuals involved.