Caldic Faces Brazil Probe in Methanol Smuggling Ring

Caldic, a global chemicals firm majority-owned by Advent International, is under investigation in Brazil for allegedly supplying methanol to a massive smuggling ring linked to the PCC, Brazils top crime group. The firms Brazilian subsidiary, Quantiq, imported large methanol shipments, some of which went to shady buyers connected to the PCC. While no evidence of company bosses knowledge has emerged, Sao Paulo prosecutors are investigating their role. The PCC, which started in a Sao Paulo prison and now dominates drug trafficking and money laundering, is causing U.S.-Brazil tension. Brazils fuel agency, ANP, imposed restrictions on Quantiqs methanol sales, citing suspicious emails and sales to fake or inactive firms. Prosecutors plan to charge by June, potentially hitting Caldic with civil suits and employees with criminal ones. This case highlights how U.S. investors can get entangled in Brazils criminal underworld, impacting the biofuels industry. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c3da64052b0370da