‘Car Wash’ Case Puts Focus on Brazil Underground FX Trade
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A $4.5 billion money laundering investigation is putting the spotlight on an underground currency market wealthy Brazilians have used for years to dodge taxes.
The federal police have charged 46 people, including the former head of refining at state-controlled Petroleo Brasileiro SA, Paulo Roberto Costa, for financial crimes including money laundering and illegal money transfers in the so-called Lava Jato, or car wash, operation, the federal police said in a statement. Two of them were charged with financing drug trafficking.