Severe Punishment Imposed on Individuals Involved in $190 Million Crypto Ponzi Scheme

Title: $190 Million Braiscompany Scammers Get 171 Years in Prison

Brazilian courts have issued a significant blow to fraudsters behind the notorious crypto Ponzi scheme Braiscompany, slapping three key executives with a combined total of 171 years in prison. The masterminds behind the operation had promised investors impressive returns ranging from 8% to 15% per month, luring approximately 20,000 victims into parting with around $190 million.

The investigation revealed that Braiscompany functioned as a pyramid scheme, using funds from new investors to pay earlier ones. Authorities have seized assets worth R$36 million, but the distribution of these funds remains uncertain, leaving victims in limbo.

Joel Ferreira de Souza, identified as the main architect of the scam, received a sentence of 128 years, 5 months, and 28 days. His son, Victor Augusto Veronez de Souza, was sentenced to 15 years, while Gesana Rayane Silva, a crucial accomplice, received a sentence of 27 years, 10 months, and 10 days.

The court found the trio guilty of operating an unlicensed financial institution and laundering millions through shell companies and unregulated crypto wallets. This verdict highlights the importance of investor education in identifying and avoiding fraudulent schemes, as security firms warn that such cases are on the rise.

Lawyer Artêmio Picanço emphasized the urgency for affected individuals to file civil claims promptly to attempt to reclaim their investments before the state absorbs the funds.

Source: https://fullycrypto.com/190-million-braiscompany-scammers-get-171-years-in-prison?utm_source=rss&utm_medium=rss&utm_campaign=190-million-braiscompany-scammers-get-171-years-in-prison