Three Brazilian men have been sentenced to a total of 170 years in prison for their involvement in a cryptocurrency Ponzi scheme that defrauded investors of around $190 million. Joel Ferreira de Souza, Gesana Rayane da Silva, and Victor Augusto Veronez de Souza were found guilty of operating Braiscompany, which promised unrealistic returns on Bitcoin investments. The mastermind, Ferreira de Souza, received the longest sentence of 128 years. The trio reportedly swindled over $190 million from 20,000 investors, leading to a court order for them to repay $6.2 million to victims. This scam, labeled as the largest crypto fraud in Brazil's history, highlights the country's growing crypto market. Brazil boasts numerous Bitcoin ETFs and digital asset offerings from major banks, making it a prominent player in the Latin American crypto scene. Read more AI-generated news on: https://app.chaingpt.org/news
Brazilian Men Sentenced in $190 Million Bitcoin Investment Ponzi Scheme
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