A UK Court ruled that the Italian national Caio Marchesani, director and owner of FCA-regulated Trans-Fast Remittance Ltd, must be extradited to Belgium over allegations of laundering significant sums via cryptocurrency for criminal syndicates. Bloomberg reports suggest that Marchesani facilitated major crypto transactions for a renowned criminal group, a scale seldom witnessed by European legal authorities.
The Caio Marchesani Case
Caio Marchesani, owner of Trans-Fast Remittance through Optima FX Ltd, is believed to have managed large cash transactions for Sergio Roberto De Carvalho, a Brazilian previously identified by Interpol as a top global fugitive until his 2022 capture. De Carvalho, or “Major Carvalho,” was on Interpol’s radar for drug trafficking, money laundering, document fraud, and homicide, with strong links to organized crime.
Prosecutors also accuse Marchesani of overseeing crypto accounts for Flor Bressers, known as the “finger cutter.” Arrested at Heathrow Airport in May, Marchesani is being held without bail. He must be extradited to Belgium to face criminal charges, a London judge ruled early on 19 Sept 2023.
The Belgian Investigations
The case against Marchesani is rooted in a broader probe initiated three years ago when the Dutch government confiscated over 12 tonnes of cocaine, valued at over €260 million, in Rotterdam. This investigation linked significant cocaine consignments to De Carvalho and Bressers. Marchesani’s involvement was later discovered through encrypted messages.
The prosecution alleges Marchesani acted as a “dark banker,” managing funds for criminal entities. A trial involving 30 defendants, including Bressers, began in Belgium but was swiftly postponed.
The exact amount laundered remains unspecified but is believed to be in the “hundreds of millions of euros.” Marchesani is accused of converting large cash amounts into Bitcoin for De Carvalho and Bressers.
Binance Involvement
Marchesani allegedly used Binance for his money laundering activities. The investigator identified at least 14 Binance accounts to launder money from his clients’ illicit activities.
The pandemic reportedly spurred the use of cryptocurrency for fund transfers, with Marchesani allegedly leveraging crypto to bypass these hurdles, utilizing multiple Binance accounts and imposing high transfer rates. In June, Belgium’s FSMA directed Binance to cease all operations in the nation due to legal breaches. Binance reportedly offered “operational assistance” for the investigation.
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