Brazil: Accountant tied to Narco Bet case for laundering through betting sites
Federal Police say the suspect coordinated million-Real transactions using shell companies and offshore betting platforms.
Key Points
- Police allege the accountant acted as the financial operator for an international drug trafficking ring
- Funds were allegedly channeled into illegal online operators through front businesses
- Defence maintains his innocence and says he only provided standard accounting services
Brazil’s Federal Police have linked an international drug-trafficking and money-laundering network to the online betting sector, following a large-scale investigation under Operation Narco Bet.
Authorities allege the network channeled millions of Reals in illicit proceeds through betting platforms, using a web of shell companies and offshore accounts to disguise their origin.
The funds reportedly passed through electronic gaming systems and crypto-based transactions before being used to acquire luxury assets, including imported vehicles and yachts.
One of those arrested, accountant Rodrigo Morgado, known publicly for promoting tax-consultancy services, was described by investigators as the “financial operator” of the group, with more than BR19m ($3.4m) repassed to different accounts, including the one of influencer Buzeira, who was arrested in the same operation, accused of promoting fake online raffles.
According to Court filings, he coordinated high-value transfers and oversaw the integration of drug profits into legitimate-looking betting and raffle businesses that operated on social media.
Good to know: A new bill in Brazil proposes directing part of the country’s betting tax revenue toward cybersecurity initiatives and digital crime prevention programs
Authorities are analysing financial records to trace how funds were channeled into betting operations through front businesses and crypto transactions.The case highlights regulators’ growing concern over how unregulated digital gambling channels can be exploited for financial crime.
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