Brazil Traces R$1B in Illegal Betting Payments Through A55

The case began with a complaint from the Finance Ministry’s Secretariat of Prizes and Betting (SPA). Test deposits through Pix led investigators to businesses registered for unrelated activities. Among them were a tarot shop and a psychosocial clinic in Sobradinho, in Brazil’s Federal District.

Betting Deposits Moved Through Shell Companies

Money collected through Pix was transferred between businesses, individuals and financial accounts. Some funds were converted into cryptoassets, according to UOL’s account of the investigation.

Police put the shell-company transactions at R$739 million ($135.3 million). A wider examination of A55 and related businesses found approximately R$1 billion ($183.1 million) in financial movements. A judge also authorised asset freezes of up to R$3.483 billion ($637.7 million). That figure is the court’s limit, rather than a confirmed seizure.

USD equivalents are calculated using the Banco Central do Brasil’s November 5 PTAX selling rate of R$5.4621 per dollar.

Police executed 52 search warrants across the Federal District and five states. The asset restrictions cover 64 individuals and 120 companies.

A55 Had Already Drawn Central Bank Attention

A55 Sociedade de Crédito Direto was already facing a separate regulatory procedure. On July 30, Brazil’s Central Bank issued Communication No. 45,658, announcing its intention to cancel the fintech’s operating authorisation.

The notice allowed 30 days for objections. It preceded the police operation and did not constitute a final licence withdrawal. Two months later, the SPA introduced Portaria No. 2,750, covering the identification of receiving accounts and the interruption of payments to illegal betting operators.

The account closures came first. In Q1 2026, Brazilian financial institutions shut down 323 accounts suspected of handling illegal betting payments, as 15M reported in August. Operation Azzardo has since brought the companies receiving Pix deposits under investigation.