Luxury Yacht Seized as Businessmen Accused of Evading £800,000 in Taxes

A luxury yacht and 120 other vehicles have been seized following an investigation into a group of businessmen allegedly evading over £800,000 in tax payments.

On October 18th, the Federal Police and the Federal Revenue Service confiscated the expensive boat worth £2.28m (BRL 14m) from a shipyard in Rio de Janeiro, Brazil.

The group of men, not identified publicly at the time of writing, stand accused of tax evasion, criminal association, embezzlement, and money laundering, with many members facing up to 23 years in prison.

They are believed to owe around £813,000 (BRL 5m) in taxes.

The Federal Revenue Service alleges the business group created more than 50 ‘ghost’ companies to circumvent paying taxes.

As part of the raid, 58 Federal Police and 18 Federal Revenue officers carried out ten searches with seizure warrants.

The three-floor yacht, which contained four suites and a heated hot tub on the roof, was being renovated at the yard in Angra dos Reis at the time.

Three smaller boats were also seized, along with 120 other vehicles, 40 properties, and several bank accounts, totalling £6.18m (BRL 38m).

This brings the total haul to £8.45m (BRL 52m).


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