Singer Nininho Vaz Maia was formally identified as a suspect on Tuesday in connection with allegations of money laundering following a series of searches conducted as part of an investigation into drug trafficking via air routes.
What is Money Laundering?
“Money laundering is the process through which those involved in criminal activities conceal the origin of goods and income (benefits) obtained illicitly, transforming liquidity from these activities into legally reusable capital by disguising the origin or the true ownership of the funds,” explains the Banco de Portugal (BdP).
In the Portuguese legal system, money laundering is classified as a crime under article 368-A of the Penal Code, as highlighted by the financial supervisor.
According to BdP, the process of money laundering may involve three stages:
- Placement: The assets and income are placed into financial and non-financial circuits, for instance, through deposits in financial institutions or investments in profitable activities and high-value assets;
- Layering: The assets and income undergo multiple and repetitive transactions (such as fund transfers) to distance them from their criminal origin, removing any trace of their provenance and ownership;
- Integration: The recycled assets and income are reintroduced into the legitimate economic circuits, typically through their use in the purchase of goods and services.
What is Known About Nininho Vaz Maia
In a statement, the Polícia Judiciária (PJ) disclosed that 33 searches, both residential and non-residential, were conducted in the Greater Lisbon area as part of Operation SKYS4ALL, which led to the arrest of two nationals and the identification of three suspects, including Nininho Vaz Maia.
The operation targeted gathering evidence regarding the presumed illicit activities of a criminal group involved in drug trafficking by air and money laundering, according to the criminal investigation force.
During the execution of search and seizure warrants, the PJ also confiscated five vehicles, two firearms, a large amount of cash, various communication materials, and documentation.
The main concerns involve the alleged crimes of drug trafficking and prohibited substances and methods, in addition to money laundering. The SKYS4ALL operation involved 80 PJ members, a criminal instruction judge, and a Public Prosecutor’s magistrate. The searches were conducted by the PJ’s National Unit for Combating Drug Trafficking.
Investigations continue under the guidance of the Loures Department of Investigation and Penal Action (DIAP) in the Lisbon district.
