A federal court in Brazil gave a 128-year prison sentence to a great chief of a Ponzi Crypto-Pontozi program who has frauded investors of more than a million dollars. Two other people also received long prison terms, while others have been acquitted because the court cited insufficient evidence.
Crypto Ponzi Trio is combined 170 prison sentence
In February 2023, the Brazilian federal prosecutor’s office began an investigation into Braiscompany, a company that promised a monthly return of 8% on alleged cryptographic investments.
Several reports indicate that Braiscompany began its operations in June 2018, but began to encounter problems with investor payments in December 2022. In January 2023, payments completely stopped, which caused an uproar of investors. Surveys have notably shown that Braiscompany has worked as a pyramidal program disguised as an investment company, fraud more than 20,000 investors of 1.1.11 billion rands ($ 190 million)
According to the Local Media Portal Do Bitcoin, the 4th Federal Court of Campina Grande under Judge Vinícius Costa Vidor pronounced a 128 -year sentence to Joel Ferreira de Souza, which is labeled as the financial brain of the Crypto Ponzi program. In addition, the court also ordered the confiscation of assets belonging to Souza valued at 36.59 million rands ($ 6.3 million).
Alongside Souza, his son Victor Augusto Veronez de Souza was sentenced to a sentence of 15 years in prison for his involvement in the management of the pyramid program. Gesana Rayane Silva, who was described as a key member of the fraudulent structure of Braiscompany, was sentenced to 27 years old.
It should be noted that the three convicts also pay a fine of variable amounts, in parallel with a joint amount to compensate for the investors of the victims. Meanwhile, Mizael Moreira Silva and Clelio Fernando Cabral Do ó, who were part of the defendants, were acquitted and released by the Court, invoking a lack of evidence in the case of prosecutors.
The owners of Braiscompany await extradition
Interestingly, Antônio Neto Ais and Fabrícia Campos, a married couple and founders of Braiscompany, remain in Argentina awaiting extradition. In particular, the duo fled from Brazil in February 2024 when the authorities began in Braiscompany.
After being declared fugitives by the Brazilian government, Neto Ais and Campos were arrested by the Argentine authorities but were released from the detention for various legal reasons. Nevertheless, the two individuals are still faced with extradition to Brazil, where judge Costa Vidor has already sentenced Neto Ais to 88 years in prison and Campos at 61.
In other news, the cryptography market is currently estimated at 2.64 billions of dollars after a gain of 0.67% in the last day.
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