Italian Businessman's Arrest Unveils $550M Mafia Network with Global Ties

An Italian businessman, Giuseppe Bruno, was arrested in Brazil in connection with a mafia network worth €500 million. The investigation, involving international agencies, uncovered substantial investments in Brazil's real estate and financial sectors. Authorities seized assets worth €50 million, revealing links to the Sicilian mafia and a decade-long laundering operation.

In a major international crackdown, Italian businessman Giuseppe Bruno was arrested in the Brazilian city of Natal for his involvement in a mafia network valued at €500 million, according to Italy's financial police.

Bruno faces serious charges including extortion and money laundering. Italy's financial police revealed that a substantial portion of the mafia's wealth, around €55 million, had been invested in Brazil's real estate and financial markets. The total value of assets potentially exceeds €500 million, authorities said.

The investigation, commencing in 2022 and involving police agencies from Italy, Brazil, and Switzerland, led to the seizure of assets totalling €50 million. According to Italian authorities, since 2016, funds have flowed through Switzerland, Hong Kong, and Singapore into the hands of notable mafia families linked to the Sicilian mafia, also called Cosa Nostra.

Brazilian police disclosed that the now-exposed mafia laundering network had operated in Natal for nearly a decade, using shell companies to conceal funds from criminal activities worldwide.

(With inputs from agencies.)