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A Brazilian court has sentenced three executives of Braiscompany, a major cryptocurrency Ponzi scheme, to a combined total of approximately 170 years in prison. Joel Ferreira de Souza, identified as the mastermind and lead launderer, received a 128-year sentence for laundering $190 million obtained through the scheme. Braiscompany operated from 2018 to 2023, defrauding over 20,000 investors by promising high monthly returns of around 8%. The scheme used shell companies and cryptocurrency flows to mask its fraudulent activities. This ruling represents one of the harshest punishments for crypto fraud in Brazil.
JUST IN: BRAZIL SENTENCES JOEL FERREIRA DE SOUZA TO 128 YEARS FOR LAUNDERING $190M IN BRAISCOMPANY CRYPTO PONZI, DEFRAUDING 20K INVESTORS WITH 8% MONTHLY RETURNS FROM 2018-2023 Source: @BitcoinNewsCom https://t.co/U8DnO7bNGV
🇧🇷 LATEST: Brazilian crypto Ponzi scheme Braiscompany's operators sentenced to over 128 years for defrauding 20,000+ investors; losses estimated at $190M. https://t.co/RlcACBwbRb
NEW: 🇧🇷 Brazil has issued a landmark sentence in one of its biggest crypto fraud cases. Joel Ferreira de Souza was sentenced to 128 years for laundering funds linked to Braiscompany, a Ponzi-style scheme that ran from 2018 to 2023 and defrauded over 20K investors with promises of https://t.co/vJw383hCas
