Genius bank says it was not the target of Operation Hidden Carbon

He said on Wednesday (3.Set.2025) that he was not the target of the PF (Federal Police), and said he had received with surprise the mention in reports related to the investigation, which investigates money laundering in the fuel sector.

“The genius bank and companies in its economic group are not investigated in Operation Hidden Carbon. The genius bank and the companies in its economic group were not the target of search and seizure”He said. Read the statement (PDF – 330 KB).

The financial institution said it was cited as administrator of the Radford Fund. The genius bank stated that it opted to renounce the provision of services to the fund.

According to the note, Radford was originally structured by other service providers and transferred to the bank in August 2024. “As the fund’s administrator, the genius bank strictly fulfilled all compliance diligence, having tracked the entire corporate structure until the final beneficiary’s identification.”he said.

Bank executives had a meeting with the São Paulo prosecutor on the 3rd beast (3.Set). According to the statement, authorities of the agency clarified that the genius bank “Does not figure as investigated in the Operation Hidden Carbon”being considered “3rd in good faith”And mentioned just for“provide information ” About the bottom.

Read the full note:

“O BANCO GENIAL S.A.inFinancial stitution based in the city and state of Rio de Janeiro, registered with the CNPJ under No. 45,246,410/0001-55 (“Genial Bank” or “institution”), informs the market, its customers, partners and the general public that it received with surprise the mention of its name in a series of reports related to the “Hidden Carbon” operation on August 28, 2025.

“The institution clarifies that:

• The genius bank and companies in its economic group are not investigated in the operation “hidden carbon”;
• The genius bank and the companies in its economic group were not the target of search and seizure;
• The genius bank was quoted in the media as administrator of Radford Multimarked Financial Investment Fund Private Credit – Limited Liability (the “Fund”), which is under investigation due to its only quotaholder, the Itajobi plant;
• The fund was originally structured by other service providers and transferred to the genius bank in August 2024;

“As the fund’s administrator, the genius bank rigorously fulfilled all compliance diligence, having tracked the entire corporate structure until the final beneficiary identification;

“With respect to the transparency and trust of the market, in view of the mention of the fund by the press and until the facts are properly clarified, www.bancogenial.com Av. Brig. Faria Lima, 3400-Itaim Bibi, Sao Paulo-SP, 04538-132 Banco Genial chose to immediately resign from the rendering of services to the background.

“At a meeting held on September 3, 2025, the São Paulo Public Prosecution Service clarified that the genius bank does not appear as investigated in the operation“ hidden carbon ”, being considered a third party third and mentioned only to provide information about the Radford fund.

“The genius bank reiterates that its current onboarding procedures follow strict compliance and governance standards. Still, the genius bank is in the process of hiring a renowned independent consulting firm to validate its currently current processes and, if necessary, implement possible enhancements.

“Finally, the genius bank emphasizes that there is no impact on its activities and activities of its economic group companies. All activities continue to be performed routinely and normal, in line with the highest standards of corporate governance, ethics and regulatory compliance, in strict compliance with the legislation, applicable regulation and their fiduciary duties that guide their performance.

“The institution vehemently repudiates any insinuation of involvement in the facts reported by the press and reaffirms its unshakable commitment to transparency and compliance with its legal and regulatory duties. The genius bank expresses its full willingness to cooperate with the competent authorities and contribute to all clarifications that are necessary.”

Operation Hidden Carbon

With the help of the IRS, arrest warrants and search and seizure were served against more than 350 individuals and legal entities linked to the CCP (first command of the capital), suspected of committing crimes such as fuel tampering, tax fraud, money laundering, estelionate and environmental crimes.

The Secretary of the IRS, Robinson Barreirinhas, declared on Wednesday (3.Set), in a public hearing in the House, that the state made the largest operation against “Financial Pillar ” of organized crime, not only for the values, but for the coordinated form between the public agencies.

According to Barreirinhas, the movements of criminals totaled R $ 80 billion in recent years. Investigators had difficulty linking money to some criminal organization, and hidden carbon only came out of paper with the collaboration of the Federal Police with the tax authorities.

Large criminal organizations transfer money to fintechs, via, for example, machines or bibs, which are accounts of these companies in traditional banks. Before updating the rules, “serious financial institution”I did not know the recipient of money deposited in cash that was passed on to fintechs.

“This goods manager takes this heritage and inserts into the system [financeiro] via funds, ”he said.“[São] Participation funds, multimarket funds, real estate investment funds. This fund buys quota from another fund, which buys from another fund, and, at the end of this chair that makes it difficult to track the appeal, this money returns to the market via the acquisition of participation in alcohol, port terminals, farms plants. ”these.