Find out what was seized in the massive operation against Revit

The massive operation was launched on Thursday to dismantle a billion-dollar tax evasion scheme attributed to Refit Group, owner of the former Manguinhos refinery, which seized jars of emeralds worth a combined R$88,000 and more than R$2 million in cash. In addition, mobile phones, computers and a set of documents were confiscated.

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Authorized by the São Paulo Court, the operation executed 190 search and seizure warrants in five states (São Paulo, Rio de Janeiro, Minas Gerais, Bahia, and Maranhão) and the Federal District.

Emeralds seized in Operation Poço de Lobato - Image: Disclosure — Emeralds seized in Operation Poço de Lobato – Image: Disclosure

One of the points that attracted the most attention was the seizure of emeralds in Campinas (SP). The stones were stored in eight plastic bags, each worth about 11,000 Brazilian reals, inside a company linked to the group investigated. The operation, carried out by Gaeco and the Military Police, collected about R$122,000 in cash, as well as electronics and documents that are now subject to forensic examination.

Authorities say the package of materials will be necessary to rebuild the financial paths used by the scheme, which would have caused losses of more than R$26 billion to the public treasury. The investigation indicates the existence of a complex network of shell companies, investment funds and offshore companies abroad, which are designed to hide the source of resources and evade paying taxes.

The chart shows how Refit's money flow works – Image: Arte O Globo — The chart shows how Refit’s money flow works – Image: Arte O Globo

According to the Public Ministry and the Federal Revenue Service, the group moved more than R$70 billion in one year, operated at all stages of the fuel chain, from imports to sales at gas stations, and repeatedly failed to collect taxes. More than 100 companies are already considered suspects in the investigation.

The name of the operation refers to the first oil well drilled in Brazil, in 1939, in the Lobato neighborhood of El Salvador. Now, nearly a century later, authorities are targeting a different well: a multi-layered financial structure designed to hide values reinvested in real estate, equity stakes, and exclusive funds.