Brazilian police have launched an operation targeting a criminal network suspected of embezzling more than 500 million reais (around €80 million) from one of the country’s main public banks.
According to Brazilian media, some of the suspects have links to Comando Vermelho, one of the country’s most powerful criminal groups based in Rio de Janeiro.
Agents from the Federal Police of Brazil carried out 43 search and seizure warrants and are seeking 21 suspects for preventive detention across the states of São Paulo, Rio de Janeiro, and Bahia, according to an official statement.
The investigation began in 2024 following evidence of a “structured criminal network designed to obtain illicit advantages” at the expense of Caixa Econômica Federal, a key public bank responsible for managing social benefits and federal credit programs.
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The group allegedly recruited employees from financial institutions and used shell companies—including some linked to a specific economic group whose name has not been disclosed—to move funds and conceal illicit resources.
Local media report that one of the suspects is Rafael Góis, CEO of the Grupo Fictor.
Bank employees involved in the scheme reportedly inserted false data into banking systems to enable withdrawals and transfers. The illicit funds were then used to purchase luxury goods and Cryptocurrency to make tracing more difficult.
In addition to around 20 arrest warrants, the courts ordered the seizure of real estate, vehicles, and financial assets totaling up to 47 million reais, as well as the lifting of banking and tax secrecy for 33 individuals and 172 legal entities.
Those under investigation could face more than 50 years in prison for crimes including criminal association, aggravated fraud, money laundering, fraudulent management, active and passive corruption, and offenses against the national financial system, according to police.
