Discover what the PCC bought with fintechs based on Faria Lima

Fintechs were used as ‘parallel banks’ to make financial tracking more difficult, with one of these institutions alone handling more than R$ 46 billion. A mega-operation by the Federal Revenue Service and other security agencies on Thursday morning revealed that the PCC (First Command of the Capital) managed at least 40 investment funds with an estimated asset of R$ 30 billion. The amount, originating from a money laundering scheme, comes from fraud in the fuel market. Among the assets acquired by the faction with the money passing through the country’s financial center are: 1600 trucks, four alcohol-producing plants, a port terminal, over 100 properties, six farms in the interior of SP, a $13 million house in Trancoso, Bahia.
The criminal scheme moved R$ 52 billion through gas stations connected to the faction, with tax payments much lower than those owed. In addition, fintechs were used as ‘parallel banks’ to make financial tracking more difficult, with one of these institutions alone handling more than R$ 46 billion during the investigated period, and the money was reinvested in investment funds, properties, plants, and vehicles.
Among the assets acquired with illicit money are 1,600 trucks, four alcohol-producing plants, a port terminal, over 100 properties, six farms in the interior of São Paulo, and a $13 million residence in Trancoso, Bahia. The operation serves about 350 search and seizure warrants in eight states: São Paulo, Espírito Santo, Paraná, Mato Grosso, Mato Grosso do Sul, Goiás, Rio de Janeiro, and Santa Catarina.