Underground banker converts 102,500 euros of drug money to bitcoin

In the Kriva Rochem trial against Flor Bressers and Sergio Roberto de Carvalho, leaders of a criminal drug gang, the Public Prosecution Service revealed how the organization used bitcoin to conceal money trails. Bressers and De Carvalho are suspected of cocaine smuggling from Brazil. Caio M. acted as the underground banker and converted large amounts of cash into bitcoin. In July 2020, Bressers ordered a 'cash drop' in Breda, where 102,500 euros had to be converted into bitcoin. Authorities discovered that 12.4 bitcoin had been sent to specified addresses. Later, 201.76 bitcoin were deposited into Bressers' crypto addresses, worth approximately 1,688,643 euros, which were sent to fourteen Binance accounts belonging to Caio M. Three of these accounts were registered with Caio M.'s identity details. Caio M. claims that the other twelve accounts belonged to others, but the Public Prosecution Service has no evidence for this claim. All fifteen accounts were managed from the same phone and IP address, with encrypted messages and screenshots from Binance as additional evidence.

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