Brazilian police have dismantled a cryptocurrency money laundering network linked to the PCC, involving nearly $2 billion.
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Ukrainian police have dismantled a suspected cryptocurrency fraud network and seized over $448,000 in cash.
According to Mars Finance, on July 3, Ukrainian media outlet Interfax reported that Ukrainian law enforcement authorities dismantled a suspected cryptocurrency exchange network, seizing over $448,000 in cash. Ukrainian police conducted more than 40 raids in seven regions across the country and detained one suspect.
Brazilian police froze approximately $2 billion in assets in cooperation with US sanctions against suspected money laundering groups.
PANews reported on July 3 that, according to Bloomberg, Brazilian federal police executed 11 provisional arrest warrants and 13 searches and seizures in multiple locations in São Paulo on Friday, targeting two individuals sanctioned earlier this week by the U.S. Treasury Department. The courts have frozen approximately 1.04 billion reais (about $2 billion) in assets, funds, and cryptocurrencies related to the individuals involved. Stella Stefanie Nunes Henrique de Oliveira, one of the sanctioned individuals, has been arrested, while Victor Henrique de Oliveira Shimada remains at large.
Vietnamese police reported on the ONUS cryptocurrency case, seizing over 350 kilograms of gold and silver and freezing eight real estate transactions.
Foresight News , citing Vietnam's Tuoi Tre newspaper, the Vietnamese Ministry of Public Security recently held a press conference to report on the investigation into the ONUS cryptocurrency case. A representative from the Investigation and Security Department (A09) of the Ministry of Public Security stated that in the investigation of the ONUS cryptocurrency exchange's alleged embezzlement, police have seized over 350 kilograms of gold and silver, frozen transactions involving eight properties worth 200 billion Vietnamese dong, and suspended over 300 bank accounts used by the defendants to trade with investors. On March 23rd of this year, police filed criminal charges against eight defendants, accusing them of using computer and telecommunications networks to commit embezzlement and money laundering. Since 2018, the perpetrators have exploited the public's lack of understanding of cryptocurrencies, creating digital accounts through applications and packaging them as virtual currencies. They built trust and attracted investment through cyclical buying and selling between affiliated companies, ultimately embezzling funds. Between 2018 and 2021, they sold over 7 trillion Vietnamese dong worth of cryptocurrency. A representative from A09 stated that the case involves numerous individuals and users, with approximately 5 million user accounts currently in operation. Police have received over 2,000 reports from citizens, and the recovery of assets is ongoing. They are also investigating whether social media influencers colluded with the defendants in promoting the cryptocurrency.
Former CEO of Goliath Ventures admits to fraud and money laundering charges in $400 million cryptocurrency Ponzi scheme.
According to CoinDesk, prosecutors in Florida have revealed that Christopher Alexander Delgado, former CEO of Goliath Ventures, has pleaded guilty to charges including conspiracy to commit wire fraud, wire fraud, and money laundering in connection with a cryptocurrency investment scam involving approximately $400 million.
Malaysian police raided and dismantled an illegal cryptocurrency mining operation in the Port Klang Free Zone.
According to Foresight News , citing the Malaysian media outlet New Straits Times, Malaysian police raided and shut down an illegal cryptocurrency mining operation yesterday in a warehouse in the Pulau Indah Free Zone of Port Klang. Two foreign men, aged 20 and 31, were detained during the raid, and mining equipment was seized. Under Malaysian law, this act violates the Penal Code and the Electricity Supply Act. If both are convicted, they could face up to ten years in prison and a fine of RM100,000 (approximately US$24,500).
Shanghai prosecutors have busted a cross-border cryptocurrency money laundering case involving over 200 million yuan.
According to Mars Finance, on July 1st, the Jing'an District People's Procuratorate of Shanghai, China, recently filed a public prosecution against Li, a member of a criminal gang involved in illegal cross-border foreign exchange transactions using virtual currency, on charges of illegal business operations. The case was heard and sentenced on June 10th, bringing to a close a series of illegal business operations spanning three years and involving over 200 million yuan. In July 2024, the State Administration of Foreign Exchange discovered abnormal clues during routine monitoring that Company Z was using virtual currency to transfer assets across borders for domestic clients, and subsequently transferred the case to the public security authorities. Investigation revealed that Company Z was registered overseas in 2019, outwardly presenting itself as a "private bank" and developing a virtual banking app to create a facade of legitimacy, but it did not obtain a foreign exchange business license from my country and was actually engaged in illegal foreign exchange exchange activities. The gang targeted high-net-worth individuals with funding needs for overseas property purchases, immigration, and study abroad, using intermediaries to attract them, with account managers, traders, and customer service personnel handling the currency exchange process. Clients purchased virtual currency from virtual currency exchange providers using RMB and transferred it to Z Company's overseas virtual wallet. The group then exchanged the virtual currency for foreign currency overseas and transferred it to the clients' designated overseas accounts. There was no actual cross-border flow of funds; instead, settlements were made separately through domestic and overseas fund pools. Z Company charged a 3% exchange service fee and paid a 0.5% commission to the intermediaries. Nine people were apprehended in this case, and one principal offender is still under investigation. Upon investigation, the individuals involved were found to have violated national laws by illegally trading foreign exchange and disrupting financial order. The circumstances were serious or particularly serious, and they should be prosecuted for illegal business operations. The court sentenced Gao, Li, and three others to prison terms ranging from two years and six months to six years, and fined them between RMB 1.5 million and RMB 300,000. The prosecution decided not to prosecute Chen, Huang, and three others due to the relatively minor nature of their crimes, the relatively small amount of money involved, and their voluntary confession and acceptance of punishment.