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Brazil Police Seized 591 BTC Worth Nearly $28M
Summary: According to an official press release, the Brazilian Federal Police seized 591 BTC (currently valued at approximately $27.7 million) related to a company accused of operating an MLM system. The police also seized 13.8 million Brazilian reals (approximately $2.6 million) and currencies of other countries, as well as items including 21 luxury cars, valuable watches, ...
According to an official press release, the Brazilian Federal Police seized 591 BTC (currently valued at approximately $27.7 million) related to a company accused of operating an MLM system.
The police also seized 13.8 million Brazilian reals (approximately $2.6 million) and currencies of other countries, as well as items including 21 luxury cars, valuable watches, jewelry, mobile phones and documents.
The Federal Police has arrested at least 5 people. CNN Brasi reported that one of the arrested was Glaidson Acácio, the founder of a Bitcoin consulting company in Brazil.
According to the police announcement, the company involved in the case had a transaction value of billions of reais in the past six years, of which about half occurred last year. If convicted, the person involved may face up to 26 years in prison. The charges include unregistered illegal issuance of securities, organized crime, and money laundering.
By Mary Liu
Tags: Bitcoin,Brazilian,Money Laundering
Link: Brazil Police Seized 591 BTC Worth Nearly $28M [Copy]
