Brazilian police have dismantled a major crypto-powered money laundering network, seizing $126 million in cash and assets. The operation, codenamed Narco Azimut, targeted a network laundering funds for criminal groups in Brazil and abroad. Authorities arrested seven individuals, including the alleged mastermind Davidson Praça Lopes, during raids in São Paulo, Goiás, and Rio de Janeiro.
The network reportedly moved over $7.3 million through affiliates and shell companies. This crackdown follows last year's Operation Narco Bet, which exposed a similar group involved in large cash and crypto transactions for drug traffickers. The suspects face charges of organized crime, money laundering, and tax evasion.
Brazilian Police Dismantle $126M Crypto Money Laundering Network
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