In short
- Three men in Brazil were sentenced this week to a combined 170 years in prison for a Bitcoin investment scheme that the authorities say it was a scam.
- Prosecutors say that Braiscompany has cheated on $ 190 million investors.
A Brazilian court imprisoned three men this week for their share in a crypto Ponzi schedule that prosecutors say that investors of around $ 190 million are affiliated.
The court sentenced Joel Ferreira de Souza, Gesana Rayane da Silva and Victor Augusto Veronez de Souza to a combined 170 -year punishment behind bars for their role in running Braiscompany, according to local media.
Braiscompany promised people incorrect return on Bitcoin investments, said public prosecutors. As early as 2021, the company was accused be a pyramid schedule, and Brazilian agents were research Braiscompany in 2023.
Public prosecutors claimed that Ferreira de Souza was the brain behind the scheme; He received the biggest punishment of 128 years behind bars.
The Brazilian federal public prosecutor claimed that the trio took over more than $ 1.1 billion Brazilian Reais – more than $ 190 million – in total of around 20,000 investors, many of whom have connected their personal savings to the scheme.
The defendants were instructed to repay R $ 36.5 million ($ 6.2 million) to investors and the authorities seized part of their assets. Local media have reported that the scam was the largest crypto scammer in the history of the country.
Brazil – the largest economy in Latin -America – is a crypto -hotspot: the country has more Bitcoin ETFs than any other country in the region, and many of the most important banks of the country offer investors in exposure to investors.
Edited by Andrew Hayward
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