The US Treasury Department’s Office of Foreign Assets Control just dropped sanctions on two Brazilian nationals, three Brazilian companies, and one Portuguese firm for allegedly helping launder more than $30 million in illicit drug proceeds. The money, according to Treasury, was moved using cryptocurrency.
The network in question is tied to the Primeiro Comando da Capital, better known as PCC, a criminal organization that has become one of the most powerful and sprawling in Latin America. This marks the third time OFAC has taken direct action against PCC and its affiliates.
Who got sanctioned and why
The two designated individuals are Victor Henrique de Oliveira Shimada and Stella Stefanie Nunes Henrique de Oliveira. The three Brazilian companies named are Victory Trading, Pixwave Soluções de Pagamentos Ltda, and Wave Construções Inteligentes Ltda. The Portuguese entity is Avenidas Flutuantes Unipessoal Lda.
The alleged scheme worked like this: drug proceeds generated in the US were converted into cryptocurrency and transferred back to Brazil. The Brazilian companies allegedly served as fronts to disguise the financial transactions, making the flow of funds harder to trace. Victory Trading had previously surfaced in connection with a 2025 laundering case involving a soccer club.
