Federal Police find gang whose transactions total $14 million

The Federal Police launched today (Aug. 28) Operação Mendaz (“Operation Mendacious” in a rough English translation) to disrupt a criminal organization involved in money laundering and foreign currency drain in São Paulo state. Transactions carried out by ring members over the last five years are estimated at $14 million.

According to a statement issued by the police, 18 search-and-seizure warrants were served in the cities of São Paulo and Indaiatuba.

As part of the scheme, the criminals, who were all foreigners, sent money to other countries through shell companies in several fields, from clothing to trade in materials.

“During the investigations, we managed to prove the use of fake natural and legal persons' documents in dealing with federal agencies,” the police reported.

Thus far, no one has been arrested. Gang members will be charged with producing counterfeit documents at federal agencies, money laundering, foreign currency drain, swindling, and criminal conspiracy.

Translated by Fabrício Ferreira