U.S. Repatriates to Brazil $1.6 Million Frozen in U.S. Banks

On November 5, 2007, the media reported that the U.S. government through the Department of Homeland Security will repatriate $1.6 million that was frozen to the Brazilian government. The money was frozen in accounts at Merchants Bank in the U.S. The money constituted one-third of the $4.8 million which the U.S. government seized and confiscated from a group of black market exchange operators (“doleiros”)...[more]