An investigation by the Brazilian Federal Police, U.S. Homeland Safety Investigations (HSI) and a number of legislation enforcement companions led to the disruption of a transnational cryptocurrency fraud ring primarily based in Curitiba, Brazil, Oct. 6.
As a part of Operation Poyais, the Brazilian Federal Police executed 20 search and seizure warrants within the states of Parana, Santa Catarina, Sao Paulo and Rio de Janeiro, Brazil, for a number of violations of Brazilian legal statutes.
The violations embody worldwide cash laundering, working a legal enterprise, fraud, and crimes in opposition to the nationwide monetary system.
“We’re grateful to the Brazilian Federal Police for his or her continued partnership in combating transnational monetary fraud schemes,” mentioned HSI Brazil Appearing Attaché Eric Cardiel. “This profitable operation exhibits the significance of worldwide collaboration in the case of disrupting legal organizations working in a number of international locations all over the world.”
The warrants are the fruits of a multi-year police investigation right into a transnational cryptocurrency fraud ring led by a 37-yearold Brazilian nationwide and former U.S. resident.
The U.S. investigation revealed that the group allegedly deceived traders in over a dozen international locations by falsely claiming that that they had developed totally functioning, cutting-edge cryptocurrency-related monetary merchandise. In actuality, the group is suspected of promoting fraudulent partnerships and licenses that have been used to dupe victims into investing hundreds of thousands into cryptocurrencies minted by the suspects. The cryptocurrencies finally held little to no worth.
In January 2022, after the chief of the transnational legal group relocated from the U.S. to Brazil, HSI particular brokers assigned to the U.S. Embassy in Brasilia, Brazil, requested the help of the Brazilian Federal Police in coordinating binational investigative efforts. A subsequent investigation by Brazilian authorities recognized related legal actions being carried out in Brazil, with an estimated 4 billion Brazilian Reais ($800 million) moved by way of the Brazilian banking system alone, separate from illicit proceeds that have been transferred by way of cryptocurrency.
HSI particular brokers and process drive officers from the HSI New York El Dorado Job Power and HSI Brazil led U.S. investigative efforts, working in live performance with HSI Orlando, the New York Metropolis Police Division, the New York Metropolis Sheriff’s Workplace, and the State of Florida’s Workplace of Monetary Regulation. The united statesAttorney’s Workplace Southern District of New York and the Division of Justice Workplace of Worldwide Affairs offered important authorized help to the investigation.
HSI is the principal investigative arm of the U.S. Division of Homeland Safety (DHS), liable for investigating transnational crime and threats, particularly these legal organizations that exploit the worldwide infrastructure by way of which worldwide commerce, journey, and finance transfer. HSI’s workforce of over 10,400 staff consists of greater than 6,800 particular brokers assigned to 225 cities all through the US, and 86 abroad places in 55 international locations. HSI’s worldwide presence represents DHS’s largest investigative legislation enforcement presence overseas and one of many largest worldwide footprints in U.S. legislation enforcement.
