Reported by HENRY POPE

Brazilian federal authorities announced Friday an investigation into the laundering of more than R$80 million (US$16.4 million) of illegally mined gold through shell companies in the foodstuffs and medical supply industries.

Brazilian federal authorities are investigating a Guyanese businessman suspected of laundering millions worth of gold through shell companies. (Photo: Ministério da Justiça e Segurança Pública de Brasil, License)

Operation Vanglória, Brazilian federal police said, is mandated with investigating individuals suspected of moving millions worth of gold, sourced illegally from the country’s northern neighbor Guyana, through various shell companies.

Police launched the investigation after learning of a Guyanese businessman, with connections to the gold mining industry in his home country, who also has business dealings in Brazil that authorities believe are not above board.

For instance, investigators have tied the businessman to a Manaus-based company that sells foodstuffs, as listed on Brazil’s National Registry of Legal Entities (CNPJ). Upon inspection of the business’ address, however, police instead discovered a vehicle shop with a separate CNPJ listing.

Federal police agents also believe that the man has a Brazilian partner who has helped him move assets through shell companies. One of them, which reportedly trades in hospital supplies but does not operate at any registered address, is under investigation of laundering more than R$60.

Read full report: https://www.occrp.org/en/daily/17831-brazil-launches-investigation-into-r-80-million-in-illegal-gold