Court Upheld Convictions in Gold Laundering Case
The Federal Regional Court upheld prison sentences for seven defendants involved in an illegal gold laundering ring.
Updated on Oct. 9, 2026 in Financial Crime
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On January 30, 2025, the 1st Criminal Chamber of the TRF-6 upheld convictions for members of a criminal organization that laundered over R$1 billion between 2017 and 2021. The gang used dozens of shell companies to move illegal gold from the Brazilian Amazon to international markets.
Why it matters
This case exposes the complex mechanisms used to conceal illicit wealth, including the use of front men and the movement of funds through international jurisdictions to bypass financial oversight.
The 1st Criminal Chamber of the TRF-6 finalized sentences for seven defendants, while acquitting an eighth suspect named Marcela Alves Silva Santos. The operation involved over 30 companies and at least 24 identified front men.
The players
TRF-6
The Federal Regional Court of the 6th Region is a Brazilian appellate court responsible for overseeing federal legal proceedings.
Henrique Angelo Miranda Goncalves
He was a key participant in the scheme who deposited R$ 22.8 million in cash as part of the illicit operation.
Marcela Alves Silva Santos
She was an eighth defendant in the case who was ultimately acquitted by the court.
The details
The criminal organization operated across Brazil, Bolivia, Hong Kong, and parts of Europe, utilizing companies such as Mina de Ouro and MRL Ouro Minas. Funds were moved using bank tokens and the dólar-cabo method, which enabled the group to evade Central Bank oversight while charging commissions for the illicit transfers.
Timeline
Between 2017 and 2021, the criminal organization provided money laundering services.
During 2019 and 2020, Mina de Ouro moved R$ 70 million through the scheme.
The initial sentence for the seven defendants was published on January 30, 2025.
Legal Context
This case follows a pattern set by the 2017-2021 Amazon gold laundering investigation, illustrating the persistent challenges of tracking illicit mineral trade. The convictions underscore the judicial system's ongoing effort to dismantle sophisticated networks that utilize shell companies for cross-border financial crime.
The closure of this case highlights the increased use of international cooperation to track money laundering activities. Residents and businesses should remain aware that heightened financial oversight is being applied to transactions involving high-value commodities like gold to curb illicit funding.
The takeaway
The successful prosecution of this gold laundering ring demonstrates the efficacy of tracing complex shell company networks to dismantle transnational crime. Vigilance in monitoring supply chains for precious metals remains a critical component in preventing these illicit operations from flourishing.
Further reading
Learn more about global enforcement efforts on our Financial Crime section page.
Source note: This article includes information reported by Mining-journal.
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