Faria Lima, PCC and fuels: see targets for the new phase of Carbono Oculto
The MPSP (Public Ministry of São Paulo), through Gaeco (Special Action Group to Combat Organized Crime), and the Federal Revenue Service launched Operation Fluxo Oculto this Thursday (28). The action is an offshoot of Operation Hidden Carbon and seeks to dismantle a structure of money laundering, fraud and tax evasion that links the fuel sector to the financial market.
In total, 59 search and seizure warrants are being executed in the cities of São Paulo, Rio de Janeiro, Minas Gerais, Paraná and Mato Grosso do Sul. Among the targets are financial institutions based in Faria Lima, the country's financial center.
Operation targets new PCC scheme in the fuel sector | CNN NEW DAY
Shadow banks and billion-dollar movements
Investigations identified six new fintechs that acted as "shadow banks" for organized crime.
These financial institutions were used to make compensations between distributors and stations, in addition to hiding the payment of employees and personal investments from the scheme operators.
Between 2022 and 2025, the group of fintechs investigated generated more than R$26 billion.
The mechanism used so-called "pocket accounts", which centralized and dispersed illicit resources to make it difficult for authorities to track them and hide the final beneficiaries.
According to the Federal Revenue, there were records of cash deposits exceeding R$1 billion in a single institution, an unusual practice for the nature of these companies.
Read also: See how the PCC's billion-dollar scheme worked in the fuel sector
Target companies
- Ceopag Payment Institution, Ceopar, Fundopay S.A. and Ltd.
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Operation Spare carries out 25 search and seizure warrants, one of which is on Avenida Paulista. Orders are fulfilled in the cities of São Paulo, Santo André, Barueri, Bertioga, Campos do Jordão and Osasco. - Disclosure/Federal Revenue
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Operation Spare carries out 25 search and seizure warrants, one of which is on Avenida Paulista. Orders are fulfilled in the cities of São Paulo, Santo André, Barueri, Bertioga, Campos do Jordão and Osasco. - Disclosure/Federal Revenue
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Operation Spare carries out 25 search and seizure warrants, one of which is on Avenida Paulista. Orders are fulfilled in the cities of São Paulo, Santo André, Barueri, Bertioga, Campos do Jordão and Osasco. - Disclosure/Federal Revenue
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Operation Spare carries out 25 search and seizure warrants, one of which is on Avenida Paulista. Orders are fulfilled in the cities of São Paulo, Santo André, Barueri, Bertioga, Campos do Jordão and Osasco. - Disclosure/Federal Revenue
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Operation Spare carries out 25 search and seizure warrants, one of which is on Avenida Paulista. Orders are fulfilled in the cities of São Paulo, Santo André, Barueri, Bertioga, Campos do Jordão and Osasco. - Disclosure/Federal Revenue
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Operation Spare carries out 25 search and seizure warrants, one of which is on Avenida Paulista. Orders are fulfilled in the cities of São Paulo, Santo André, Barueri, Bertioga, Campos do Jordão and Osasco. - Disclosure/Federal Revenue
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Operation Spare carries out 25 search and seizure warrants, one of which is on Avenida Paulista. Orders are fulfilled in the cities of São Paulo, Santo André, Barueri, Bertioga, Campos do Jordão and Osasco. - Disclosure/Federal Revenue
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Operation Spare carries out 25 search and seizure warrants, one of which is on Avenida Paulista. Orders are fulfilled in the cities of São Paulo, Santo André, Barueri, Bertioga, Campos do Jordão and Osasco. - Disclosure/Federal Revenue
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Money laundering scheme - Disclosure/Federal Revenue
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Hidden Carbon: MPSP rejects "Beto Louco" plea bargain for omissions | CNN PRIME TIME
Fuel adulteration with naphtha
In addition to the financial core, the operation involves a fuel adulteration scheme. The organization used shell companies to simulate the purchase of petrochemical naphtha (solvent) for industrial purposes.
In practice, the product was diverted to storage terminals and mixed with gasoline sold at gas stations controlled by the group.
It is estimated that this fraud alone caused a loss of R$ 200 million to the public coffers in tax evasion in the last two years.
The profit obtained from the sale of adulterated fuel was sent to investment funds to disguise the origin of the amounts.
See how the PCC's billion-dollar scheme worked in the fuel sector | LIVE CNN
Blocking of assets and investment funds
The court targets four investment funds, two administrators and two asset managers involved in asset hiding.
Currently, the funds investigated have an estimated assets of R$205 million, showing growth of more than 200% in just over a year.
Operation Fluxo Oculto has the support of the ANP, the Treasury Department, the State Attorney General's Office and the Civil and Military Police, aiming to financially stifle the organizations that control the fraud ecosystem in the sector.
Source: CNN