In accordance with DL News, a Brazilian federal court has convicted 14 individuals for using Bitcoin to launder over $95 million in profits from drug trafficking and kidnapping. The court sentenced two unnamed ringleaders to over 21 years in prison, while 12 others received sentences between 10 and 17 years. The investigation, part of a police operation codenamed Fertile Land, revealed the group used shell companies, fake tax IDs, and cryptocurrency to conceal the origins of their criminal assets.
Brazilian Court Convicts 14 for Laundering $95M in Drug Trafficking Profits via Bitcoin
DL NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.