The
Civil
Police
of
São
Paulo,
Brazil,
dismantled
a
money
laundering
scheme
managed
by
the
drug
gang
First
Capital
Command
(PCC)
that
operated
a
company
operating
as
a
crypto
exchange,
the
police
said
on
X
(formerly
Twitter)
on
Tuesday.
The
company
conducted
transactions
worth
approximately
500
million
reais
($89
million),
according
to
a
CNN
report.
During
the
raid,
the
police
seized
checks
worth
55
million
reais
($8.9
million)
at
the
company’s
headquarters,
whose
name
was
not
released
at
this
time.
The
raids
took
place
after
the
Civil
Police
of
São
Paulo
received
orders
on
Tuesday
to
execute
20
arrest
warrants
and
60
search
and
seizure
warrants
against
people
linked
to
the
First
Capital
Command
in
different
cities
in
the
state
of
São
Paulo.
Brazilian
courts,
on
the
other
hand,
have
blocked
more
than
8
billion
reais
($1427
million)
in
assets
of
those
involved
in
the
investigations.
The
First
Capital
Command
is
known
as
Latin
America’s
biggest
gang,
with
nearly
40,000
members
and
close
to
60,000
contractors,
according
to
a
recent
report
by
The
Economist.