Brazilian Judge Issues 128-Year Sentence To $190-M Ponzi Mastermind
A federal court in Brazil has handed down a 128-year prison sentence to a major leader of a crypto Ponzi scheme syndicate that defrauded investors of over a hundred million dollars. Two other individuals also received lengthy prison sentences, while others were acquitted as the court cited insufficient evidence.
Crypto Ponzi Trio Gets Combined 170 Prison Sentence
In February 2023, the Brazilian Federal Public Prosecutor’s Office commenced an investigation of Braiscompany, a firm that promised an 8% monthly return on alleged crypto investments.
Multiple reports state that Braiscompany commenced operations in June 2018, but began experiencing issues with investor payouts in December 2022. By January 2023, payments stopped…
