Friday, October 30, 2020

Prosecutors indict former mayor of Catingueira for laundering money with bitcoin

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The Federal Public prosecutor’s office denounced José Edivan Felix, former mayor of Catingueira.The defendant is already serving 40 years in prison for fraud and embezzlement of public funds.

The Public Ministry of Brazil accused the former mayor of Catingueira, José Edivan Felix, for being involved in an alleged money-laundering scheme using cryptocurrencies as bitcoin and megacoin.

The former mayor is currently serving 40 years in prison for committing fraud and embezzlement of public funds by the order of the 7.700.000 million reais, or 1.75 million dollars. According to the authorities, the mayor would now face a new judicial process that, in the event of being found guilty, he would receive a sentence between 3 to 10 additional years in prison, plus payment of fines for each crime committed.

The prosecution argues that Edivan Felix concealed alot of his assets by placing them in the hand of third parties. In addition, to avoid suspicion he uses cryptocurrencies to acquire and sell vehicles through trading companies. The complaint includes two cases in which the defendant delivered two cars and received payments in bitcoin and megacoin.

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The business model involves particpants paying an initial fee and monthly fees. Then he would withdraw dividends in cryptocurrencies.

The investigation against the former mayor is part of an operation called Recidivism, in which the prosecution indict the local mayor for alleged acts of corruption.

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