Italy, Switzerland, Brazil Freeze €50 Million in Mafia Assets Following Raid

Italy, Switzerland and Brazil have conducted a joint anti-mafia operation that resulted in the detention of one person and the freezing of €50 million in assets.

This was reported by the EU Agency for Criminal Justice Cooperation (Eurojust), which provided coordination and analytical support.

‘The investigation, which lasted more than two years, revealed an intricate money laundering scheme run by a mafia family from Palermo (Italy). The total value of their profits is estimated at over €500 million. They reinvested the proceeds of their criminal activities in numerous companies in Brazil. Cooperation between the Italian, Brazilian and Swiss authorities led to the arrest of a member of the organised crime group during an operation on 13 August, as well as the freezing of financial assets worth €50 million during searches in Italy, Brazil and Switzerland,’ the statement said.

It is noted that the Palermo-based mafia family was involved in various criminal activities, including extortion, money laundering and illegal transportation of valuables, and also cooperated with other organised crime groups.

In 2016, the suspects stepped up their activities in Brazil to support another Italian criminal and launder most of their proceeds. The money was transferred to Brazil through numerous transit bank accounts and with the support of their network of financial professionals in Italy.

The Italian and Brazilian authorities have been investigating the criminal group since 2022 through a joint investigation team (JIT) established with the support of Eurojust. Their investigations have uncovered the activities of the criminal group in Switzerland. Through Eurojust, the Swiss authorities were involved in the JIT investigations.

A coordinated operation was conducted on 13 August with the support of Eurojust in Italy, Switzerland and Brazil.

In Italy, 21 sites were searched, including the homes of mafia family members and the offices of their companies. In Brazil, a suspect was detained and financial assets worth €50 million were frozen. In Switzerland, a search was conducted at the home of an Italian businessman.

To cover up their activities, the criminals acted through a network of front men and fictitious companies involved in the hospitality, construction and real estate sectors. According to Eurojust, the family's total assets are estimated at over €500 million.