Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Brazil Sentences 14 for Using Cryp Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Brazil Sentences 14 for Using Cryp

Brazil Sentences 14 for Using Crypto, Shell Firms in $95M Drug Money Laundering Case

2025/12/03 01:13
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail

Brazil Sentences 14 for Using Crypto, Shell Firms in $95M Drug Money Laundering Case

The defendants were found to have used fake companies and cryptocurrency transactions to conceal the origin of the illicit funds.

By Francisco Rodrigues, AI Boost|Edited by Sheldon Reback
Dec 2, 2025, 5:13 p.m.
(Frank van Hulst/Unsplash+/Modified by CoinDesk)

What to know:

  • A Brazilian court has sentenced 14 people for using shell companies and bitcoin to launder 508 million reais ($95 million) from drug trafficking.
  • The defendants were found to have used fake companies and cryptocurrency transactions to conceal the origin of the illicit funds.
  • The case highlights the growing concern over cryptocurrency being used for money laundering and other illicit activities in Brazil.

A federal court in Brazil sentenced 14 people to jail for laundering more than 508 million reais ($95 million) from international drug trafficking and other violent crimes, wrapping up a years-long investigation into a sophisticated criminal network spanning multiple states.

The two group leaders were each sentenced to over 21 years in prison, while other sentences ranged from 8 to 17 years. All defendants were ordered to repay the full amount laundered, and assets including seized planes and luxury cars were forfeited to the federal government.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sign me up

The operation, dubbed Terra Fértil, uncovered a scheme that used fake companies across two different states to disguise drug profits.

Prosecutors said the group ran a layered structure with distinct roles: leadership directed the flow of funds, mid-level operators served as front-men for the businesses, and an accounting arm kept the network running through fake documents and financial trickery.

According to the ruling, the network’s strategy followed a process that started with the placement of illicit funds into the system through small bank deposits, layering via false corporate activity and foreign exchange operations, and integration through the purchase of luxury assets.

Prosecutors cited examples like aircraft registered under a bikini shop and high-end real estate.

The group also used the dólar-cabo system, a parallel international money transfer method, and moved large amounts using crypto, according to authorities. Local news outlet Livecoins cites the use of bitcoin BTC$91,739.15 among the cryptocurrencies being used.

The court's decision can be appealed.

BrazilMoney LaunderingCrime
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

More For You

Protocol Research: GoPlus Security

Commissioned byGoPlus

What to know:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
View Full Report

More For You

Kraken Agrees to Buy Tokenization Specialist Backed Finance as RWA Trend Accelerates

The exchange has already teamed up with the Switzerland-based firm for its tokenized equity offering, xStocks.

What to know:

  • Kraken said it agreed to acquiring Backed Finance to integrate tokenized stocks and ETFs onto its platform.
  • The purchase aligns with a trend of bringing real-world assets onto blockchain for efficiency and broader access.
  • Kraken is preparing to go public.
Read full story
Latest Crypto News

AI Investment to Drive Global Growth Through 2026, BofA Says

Why Coinbase Shares Still Have 90% Upside Despite Crypto Pullback, According to Wall Street Analyst

Polkadot Surges 13% After Breaking Above Key Resistance

Iren Plans to Sell Up to $2.3 Billion of Convertible Notes, Shares Drop

SOL Bulls Take a Breather After Pumping Millions Into ETFs

Kraken Agrees to Buy Tokenization Specialist Backed Finance as RWA Trend Accelerates

Top Stories

Bitcoin Surges Back Above $91K as Support Builds in $80K-$85K Area

Strategy Gains Nearly 20% From Monday Low as Bear Gloating Suggests at Least Temporary Bottom

Bank of America Greenlights Wealth Advisers to Recommend Up to 4% Bitcoin Allocation

Bitcoin May Dump to $65K or Below, Spelling Trouble for ETH, XRP, ADA and Other Majors

Ethereum Devs Push ZK ‘Secret Santa’ System Toward Deployment

On Thin Ice: Crypto Daybook Americas

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Today’s Wordle #1630 Hints And Answer For Friday, December 5

Today’s Wordle #1630 Hints And Answer For Friday, December 5

The post Today’s Wordle #1630 Hints And Answer For Friday, December 5 appeared on BitcoinEthereumNews.com. How to solve today’s Wordle. SOPA Images/LightRocket via Getty Images Friday is here at long last. It’s the first Friday of December. In my hometown, First Friday is a big deal. There’s an art walk, live music. Local retailers will often have free beverages for shoppers (sometimes boozy, but in these chillier times it can be hot cocoa). It’s a nice way to kick off the month. I’ll be home playing games or watching my shows, of course, but then I’m a homebody to my very core. Speaking of games, let’s solve today’s Wordle! It’s 2XP Friday so double your points! Looking for Thursday’s Wordle? Check out our guide right here. Today’s Bonus Wordle Now that we can create our own custom Wordles, I’m including a bonus Wordle with each daily Wordle guide. These can be 4 to 7 letters long. Hopefully this is a fun extra challenge. Click the link below to play the Wordle I hand-crafted for you. Today’s Bonus Custom Wordle. This custom Wordle is 7 letters long. The hint: John Lennon urged us to be this kind of person. The clue: This Wordle has a double letter. Yesterday’s bonus Wordle answer was: SYMBOL Play Puzzles & Games on Forbes How To Solve Today’s Wordle How To Play Wordle Wordle game website displayed on a phone screen is seen in this illustration photo taken in Poland on August 6, 2024. (Photo by Jakub Porzycki/NurPhoto via Getty Images) NurPhoto via Getty Images Wordle is a daily word puzzle game where your goal is to guess a hidden five-letter word in six tries or fewer. After each guess, the game gives feedback to help you get closer to the answer: Green: The letter is in the word and in the correct spot. Yellow: The letter is in the word,…
Share
BitcoinEthereumNews2025/12/05 09:16
Edges higher ahead of BoC-Fed policy outcome

Edges higher ahead of BoC-Fed policy outcome

The post Edges higher ahead of BoC-Fed policy outcome appeared on BitcoinEthereumNews.com. USD/CAD gains marginally to near 1.3760 ahead of monetary policy announcements by the Fed and the BoC. Both the Fed and the BoC are expected to lower interest rates. USD/CAD forms a Head and Shoulder chart pattern. The USD/CAD pair ticks up to near 1.3760 during the late European session on Wednesday. The Loonie pair gains marginally ahead of monetary policy outcomes by the Bank of Canada (BoC) and the Federal Reserve (Fed) during New York trading hours. Both the BoC and the Fed are expected to cut interest rates amid mounting labor market conditions in their respective economies. Inflationary pressures in the Canadian economy have cooled down, emerging as another reason behind the BoC’s dovish expectations. However, the Fed is expected to start the monetary-easing campaign despite the United States (US) inflation remaining higher. Investors will closely monitor press conferences from both Fed Chair Jerome Powell and BoC Governor Tiff Macklem to get cues about whether there will be more interest rate cuts in the remainder of the year. According to analysts from Barclays, the Fed’s latest median projections for interest rates are likely to call for three interest rate cuts by 2025. Ahead of the Fed’s monetary policy, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto Tuesday’s losses near 96.60. USD/CAD forms a Head and Shoulder chart pattern, which indicates a bearish reversal. The neckline of the above-mentioned chart pattern is plotted near 1.3715. The near-term trend of the pair remains bearish as it stays below the 20-day Exponential Moving Average (EMA), which trades around 1.3800. The 14-day Relative Strength Index (RSI) slides to near 40.00. A fresh bearish momentum would emerge if the RSI falls below that level. Going forward, the asset could slide towards the round level of…
Share
BitcoinEthereumNews2025/09/18 01:23