Police in Brazil's Federal District launched Operation Azzardo against an illegal betting scheme. The operation targeted São Paulo-based fintech A55 Sociedade de Crédito Direto. Investigators sought to block up to R$3.48 billion in assets after accounts at A55 moved about R$1 billion.
Operation scope
About 200 police officers took part in the operation across the Federal District and five states. Those states were São Paulo, Goiás, Paraná, Ceará, and Rio Grande do Norte. Authorities also targeted two companies from the same group and their executives.
A55's ownership context
A55 operates as a direct credit society. The fintech had already expressed plans to cancel its authorization with Brazil's central bank. In March, PagSmile announced a 49% stake purchase, but RB Holding later completed the acquisition.
How the scheme worked
The sites operated without federal authorization and advertised on social media and search results. Bettor transfers passed through shell company accounts at A55. Police cited possible crimes including money laundering, organized crime, and fraud.
A55 did not respond to a request for comment by publication time. The investigation began five months ago after the Secretariat of Prizes and Betting reported unauthorized platforms. The report will be updated if the company gives a statement.
Read more: finsidersbrasil.com.br