Arrest of Italian businessman exposes $550 million mafia network with global ties

In a large-scale international crackdown, Italian businessman Giuseppe Bruno has been arrested in the Brazilian city of Natal for his involvement in a mafia network worth €500 million, Italian financial police said.

Bruno faces serious charges, including extortion and money laundering. Italian financial police revealed that a substantial portion of the mafia’s wealth, around €55 million, was invested in Brazilian real estate and financial markets. The total value of the assets may exceed €500 million, authorities said.

The investigation, which began in 2022 and involved police forces from Italy, Brazil and Switzerland, led to the seizure of assets worth €50 million. According to Italian authorities, funds have been channeled through Switzerland, Hong Kong and Singapore since 2016 to leading mafia families with ties to the Sicilian mafia, also known as Cosa Nostra.

Brazilian police have revealed that the now-unmasked mafia money laundering network had been operating in Natal for almost a decade, using shell companies to hide money from criminal activities around the world.

(With input from agencies.)