The Federal Court sentenced businessman Francisley Valdevino da Silva, known as the "Bitcoin Sheik", to 56 years, 4 months and 10 days in prison for million-dollar frauds involving cryptocurrencies. The Federal Police claim that he was in charge of the scheme.

The sentence by Judge Nivaldo Brunoni, of the 23rd Federal Court of Curitiba, was handed down late in the afternoon of this Wednesday (9). Five other people were convicted, with sentences ranging from 11 to 48 years in prison.

Francisley was convicted of fraudulently managing a financial institution, appropriating money or diverting it for personal gain, issuing or trading securities or securities without prior registration and concealing assets.

The defense said it will appeal and considered the judge's decision to be "full of emotion".#sheik #Fraude #golpe ‘