ChainCatcher news, the Brazilian Federal Court ruled that 14 people were sentenced for using Bitcoin to launder over 95 million dollars from drug trafficking and kidnapping crime profits. Two main offenders were sentenced to more than 21 years in prison, one of whom was a prison security officer, while the remaining 12 were sentenced to varying prison terms of 10 to 17 years. This criminal group operated in Minas Gerais and Paraná from April 2019 to July 2024, primarily focused on concealing the nature, origin, flow, and ownership of assets from cross-border drug trafficking and violent crime, including the ransom from the Rio de Janeiro kidnapping case. Investigations revealed that the group used Bitcoin and other Crypto Assets to launder money for a larger criminal network, operating an “accounting department” through fake tax identification numbers, false accounting records, and multiple shell companies, disguising themselves as involved in industries such as food trade, livestock, luxury goods, and swimwear.
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