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Automatically translated version. May contain inaccuracies compared to the original.
Assets of $635 million were blocked in Brazil in a case involving an illegal iGaming business
🔹Brazilian police carried out a large-scale operation against a network suspected of organizing illegal gambling. Raids took place across six states. By court order, assets of 64 individuals and 120 companies were frozen for a total of about 3,5 billion reais ($635,8 million). The operation took place on 5 November under the direction of the Civil Police of the Federal District. About 200 law enforcement officers were involved.
🔹According to the investigation, the network used dozens of shell companies to accept player deposits through the Pix payment system. Formally, these businesses provided psychological services and sold goods for divination using tarot cards. The funds received were distributed among individuals, companies, and payment structures, and were later converted into crypto assets.
🔹According to police, about 739 million reais ($134 million) passed through the network’s companies. In addition, investigators uncovered financial transactions totaling approximately 1 billion reais ($182 million) linked to a fintech company in São Paulo. Authorities also suspended the registration of 100 companies, and the case’s subjects were barred from opening new bank accounts for 90 days.
The investigation is ongoing.
🔹The suspects may face charges of organizing gambling, fraud, money laundering, and participation in a criminal organization. Combined, these articles carry a potential sentence of up to 33 years in prison.
@sho_azartny
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