Brazil’s Federal Police had warrants on Shimada since June before launching Operation Exchange and seizing R$ 10.4 billion in assets

Brazil’s Federal Police had arrest and search warrants in place since June against Victor Henrique de Oliveira Shimada and Stella Stefanie Nunes Henrique de Oliveira, but the operation was delayed because Shimada’s whereabouts were unknown. Then US sanctions against Shimada, his associates, and three linked companies pushed the case forward, and the result is the kind of cross-border crypto-and-cash enforcement high-risk PSPs watch closely.

1. According to the Federal Police source cited in the report, investigators had already obtained court-approved arrest and search warrants in June against Shimada and Stella Stefanie Nunes Henrique de Oliveira. Since then, they had been trying to locate Shimada, who was listed as having an unknown whereabouts.
2. The same source said the US government’s decision to sanction the two Brazilians and the three companies tied to Shimada surprised the Federal Police and forced the early launch of Operation Exchange. The source also said the episode exposed a “complete lack of cooperation” between US and Brazilian law-enforcement authorities.
3. Operation Exchange was launched on Friday and led to the arrest of seven people, including Stella Stefanie. A preliminary Federal Police analysis identified financial movements exceeding R$ 10 billion.
4. Investigators say the suspects used a structured system to move funds through illicit cryptoasset transfers, cash transport, high-value bank transactions, transfers between individuals and companies, and other financial operations. The suspects may face charges including criminal association, money laundering, and capital flight, along with other offenses identified during the inquiry.
5. More than 50 Federal Police officers executed 13 search-and-seizure warrants and 11 temporary arrest warrants issued by the 7th Federal Criminal Court of São Paulo. The court also ordered the seizure of assets, funds, and cryptoassets up to R$ 10.4 billion.

For high-risk PSPs, the relevant detail is not just the criminal file. The case combines crypto flows, cash movement, large-value banking activity, and asset freezes at billion-real scale, with parallel US sanctions in the background. That is exactly the kind of setup that can turn into blocked settlements, enhanced due diligence, and uncomfortable questions from banks that want clean exposure maps, not surprises.