After Cisco: “Brazucos Bust Bad Beancounters”


White-collar perp walks: “The people like it that way.” The Caros Amigos cover story seems more and more like an astute piece of political analysis. Recently polls showed the DPF as one of the most trusted public institutions in the
gigante pela própria natureza.

Besides BB employees and federal tax auditors, the group was supported by financial consultants, a retired federal police official, a ranking reserve officer in the Rio state fire brigade [!], a former state legislator from Rio, as well as a subject of a São Paulo legislative probe into the “fuel mafia.”

PF prende 22 em operação contra golpe de R$ 1 bilhão no BB: “22 arrested in billion-real fraud scheme at the Bank of Brazil.”

Federal auditors were alleged bribed into aiding and abetting funny money movements.

Which I think reinforces what I tend to guess: That the real focus of the operation that Cisco had the bad luck and embarassment to be the first to get caught up in were corrupt public employees — 8 of whom were arrested on suspicion, then indicted, in the Cisco case.

Cisco was but a single node in the vast network that is the Great Sino-Paraguayan Pipeline of Funny Money. And you certainly cannot argue that this was a politicized bust of some poor foreign tech empire suffering political persecution.

These people really do seem bent on cleaning house. I suspect Cisco will pay its back taxes, continue competing to sell useful gizmos that Brazilians actually want and need, and then be long forgotten as more and more of these sorts of cases emerge.
Crooked federal auditors, bribed to look the other way.

While you, poor middle-class Tupi taxpayer, get put through the malha fina (the close audit).

RIO – A Polícia Federal realiza, nesta sexta-feira, 19, a Operação Alquimista, contra auditores da Receita Federal e gerentes do Banco do Brasil que estariam envolvidos na tentativa de saques volumosos de contas inativas do banco, que chegariam a R$ 1 bilhão. Segundo informações da PF, pelo menos 22 pessoas já foram presas em São Paulo, Rio de Janeiro, Goiás e Distrito Federal.

The Brazilian feds are carrying out Operation Alchemist against auditors from the federal tax authority and managers from the Bank of Brazil involved in attempts to make large withdrawals from inactive accounts at the bank, totally some R$1 billion in all. According to the feds, at least 22 persons were arrested in São Paulo, Rio, Goiás and the Federal District.

Além de funcionários da instituição e auditores da Receita, o grupo contava ainda com o apoio de consultores financeiros, um Delegado da PF aposentado, um oficial de alta patente da reserva do Corpo de Bombeiros do Rio, um ex-deputado estadual também do Rio de Janeiro, além de um ex-investigado na CPI dos Combustíveis da Assembléia Legislativa de São Paulo.

Besides BB employees and federal tax auditors, the group was supported by financial consultants, a retired federal police official, a ranking reserve officer in the Rio state fire brigade [!], a former state legislator from Rio, as well as a subject of a São Paulo legislative probe into the “fuel mafia.”

De acordo com as investigações, a organização, que agia há pelo menos 2 anos, tentou efetuar o saque de aproximadamente R$ 1 bilhão junto ao Banco do Brasil, valores que estariam, em tese, depositados na conta de um laranja residente no interior de São Paulo.

Investigators say the the organization, which has been active for at least 2 years, tried to withdraw about R$1 billion from the Bank of Brazil — sums that were deposited, in theory, in the account of a front man who lives in rural São Paulo.

Depois de identificar essa tentativa de golpe, a Polícia Federal localizou outro grupo responsável pela distribuição dos valores obtidos ilicitamente em paraísos fiscais. Segundo a PF, o grupo realizava transferências de altas quantias entre contas bancárias no exterior, para beneficiários brasileiros.

After identifying this attempted fraud, the feds ran across another group that worked to distribute the money obtained into offshore accounts. According to the feds, the group made high-value transfers among offshore accounts on behalf of Brazilian beneficiaries.

As fraudes são relacionadas a tentativas de saques em contas inativas do BB, ou contas que apareceram com saldos astronômicos, sem que seus correntistas justificassem tais valores. Como exemplo, um correntista desempregado teve seu saldo no banco ampliado para R$ 2,3 milhões. Outros exemplos também apurados foram o de um correntista de Santa Catarina, que tinha um saldo de R$ 214 milhões; e de outro, com um saldo de R$ 250 milhões.

The fraud charges relate to attempted withdrawals from inactive accounts at the BB, or accounts that suddenly exhibited astronomical balances, without the accountholders being able to explain them. For example, an unemployed accountholder had a bank balance of R$2.3 million. Other examples found were an accountholder from Santa Catarina, who had a balance of R$214 million, and another with a balance of R$250 million.

What did these people do, answer Nigerian scam e-mails from Augusto Pinochet, offering a reward if they helped front for money-laundering transactions?

We actually saw some PF guys at work today along the Av. Brigadeiro Lima, a high-end business district. We were passing by on the bus, on our way to do a bureaucratic task at the PF building down there at the end of Av. Pompeia. You think maybe they were maybe working on Alchemy?

Segundo a PF, também foram bloqueadas contas bancárias no Brasil e, através do DRCI contas no exterior (Uruguai, EUA e Suíça), utilizadas pelos doleiros para lavagem do dinheiro.

Also blocked were bank accounts in Brazil and, through the DRCI, foreign accounts in Uruguay, the USA and Switzerland that were used by doleiros [black-market currency borkers] to launder the money.

The DRCI is the “asset recovery and legal cooperation” office of the Ministry of Justice.

Pelo menos um mandado de apreensão foi cumprido em Laranjeiras, na zona sul do Rio de Janeiro, de onde agentes da PF saíram de uma residência carregando malotes.

At least one search warrant was served in Laranjeiras in the Southern District of Rio, from which federal agents emerged from a residence carrying suitcases (briefcases).

No Rio, a tentativa de prender um coronel do Corpo de Bombeiros em sua suposta residência no condomínio Parque Palace, na Barra da Tijuca, foi frustrada. A casa foi encontrada vazia, com um casal de caseiros tomando conta, apesar de na sua porta estarem estacionados dois Honda Civic e um Ford Taurus.

In Rio, an attempt to arrest a colonel from the state fire brigade at his stated address in the Parque Palace gated community in the Barra da Tijuca was frustrated. The house was found empty, with a couple serving as housesitters, although two Honda Civics and a Ford Taurus were parked out front.

It will be interesting to learn more about the origins of all this funny money.

If I were a betting man, I would bet that it was — what else? — the bicho. Just a guess. But stay tuned.

https://i0.wp.com/www.alide.org.pe/images/Logos/BancoDoBrasil.jpg
Employees of the state-owned bank busted for funneling funny money. But whose?

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