The Federal Police of Brazil (PF) launched Operation Greed on Thursday (7) against a criminal organization that created a cryptocurrency allegedly backed by gold. According to investigations, the digital currency was a front for a money laundering scheme from an illegal mining company that caused tremendous environmental damage in the country. At least three operations were launched by the PF this Thursday morning, against illegal mining installed in Brazil for the mining of gold, a precious metal of great value. The operations aim to combat illegal extraction crimes, mainly in the northern region of the country. Even so, agents took to the streets in different states to fulfill the 82 search and seizure warrants and 5 more for preventive detention. In addition to the illegal extraction of gold, those investigated are accused of trading precious metals without authorization. The information is from the PF itself, confirmed by the report.
PF fulfills warrants in operation against company that created cryptocurrency allegedly backed by gold
Investing in new cryptocurrencies, or a token created on any public network, is a task that requires investors to have a number of guarantees. In the case of investing in the extraction of precious stones, care must be redoubled, since the token can be associated with illegal mining. And it was precisely this situation that led the PF to trigger Operation Greed on this Thursday, to investigate possible money laundering with a gold-backed cryptocurrency. In the states of Rondônia, Pará, Goiás, Rio de Janeiro, Mato Grosso and Acre, 65 court orders are executed, 5 of which are for preventive arrests and another 60 for search and seizure. The warrants were issued by the 3rd Criminal Court of the Federal Court of Porto Velho (RO), which is investigating the case. The situation has been investigated since February 2021, when complaints involving companies in Porto Velho in the health area drew attention to possible money laundering of amounts received in fraudulent bids. However, after the beginning of the investigations, the agents detected that the values were the result of the practice of illegal mining, carried out since 2012. The criminal group then revealed itself to be moving billions of reais, with millionaire deposits and withdrawals in cash, in addition to shell companies. and bank transfer between those involved. What drew even more attention from investigators was the creation of a cryptocurrency owned by one of the companies, which would be backed by gold, and was used to launder money from the crime of illegal mining, according to the PF.
“Several means of money laundering practiced by the criminal organization were identified, especially among the modus operandi, the creation of a crypto-asset (token) of one of the companies, in order to justify the values arising from the illegal extraction of gold in the companies. of criminals, as if they were investments of third parties interested in receiving dividends.”
Crime caused damage equivalent to an area of 212 football fields
The PF estimated in a bank analysis that the group handled more than BRL 16 billion between 2019 and 2021 alone. 1 billion. The environmental damage in just one of the illegal mines was estimated at R$ 300 million, with an impacted area, with potentially irreversible damage, equivalent to 212 football fields. The Federal Court of Porto Velho granted the blockade, kidnapping and seizure of the leaders’ real estate and movables, up to the value of R$ 2 billion. Two other operations are investigated against crimes of usurpation of mineral assets of the Union, qualified reception, misrepresentation, reduction of federal tax payments, active and passive corruption, promotion of criminal organization, environmental crimes, among others.
