The US Department of Justice has seized $24 million in cryptocurrencies at the request of the Brazilian government. The funds are related to a fraudulent scheme, the organizers of which lured $200 million from thousands of Brazilians.
The confiscated funds were in the wallets of Marcos Antonio Fagundes (Marcos Antonio Fagundes). In Brazil, Fagundes is accused of setting up an illegal financial institution, violating the Securities Exchange Act and money laundering.
Fagundes launched a fraudulent scheme in which he offered investments in cryptocurrencies over the Internet. The victims were attracted by the promised large profits, and they invested their cash, as well as transferred cryptocurrencies to the criminal’s wallets.
According to law enforcement agencies in Brazil, only a small percentage of the funds received were actually invested in cryptocurrencies, so Fagundes was accused of fraud.
Recently, Europol conducted arrests of members of the QQAAZZ group, which was engaged in laundering cryptocurrencies obtained by criminal means. To do this, QQAAZZ used a large network of bank accounts, front people, and fake companies.