The ‘penthouse’ of organized crime

Yesterday’s massive police operation into the connections between Brazil’s financial system and the Primeiro Comando Capital (First Command of the Capital, PCC), one of Latin America’s most powerful criminal groups, sent tremors far beyond the usual suspects.

Instead of dingy warehouses or remote border towns, agents raided the glass towers of São Paulo’s financial elite: 42 of the 350 targets were located on Faria Lima Avenue, Brazil’s answer to Wall Street — synonymous with corporate opulence. Marshals raided 15 offices in a single building on Faria Lima.

Finance Minister Fernando Haddad framed the moment as police reaching the “penthouse” of organized crime. It was not the first time he had used the metaphor. Earlier this year, he had leaned on the same image to argue for income tax reform that would make Brazil’s wealthy pay more. Now, with officers seizing documents and computers from hedge funds and fintechs, his imagery suddenly hit harder.