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International Business Times
International Business Times
Business

Brazil Crypto Crackdown: Police Raid 87 Shell Companies in Operation Veil of Maya

Pictured: Representative image of the Brazil flag. (Credit: Pixabay)

On July 10, Brazil's Federal Police executed nine simultaneous search-and-seizure warrants across São Paulo, Ribeirão Preto, Porto Alegre, and Canoas, tearing into a laundering network built on 87 shell companies.

They called it Operation Veil of Maya, after the philosophical idea of an illusion that hides reality. The cops were not being subtle. Every one of those 87 companies existed to look like a real business while funneling illegal gambling money out of the country.

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