A Brazilian man, Douver Torres Braga, has been extradited from Switzerland to the US to face charges related to a $290 million global Bitcoin (BTC) scam. Braga allegedly founded and operated the Trade Coin Club (TCC), a cryptocurrency trading platform that scammed investors worldwide ¹.
The US Department of Justice (DoJ) announced Braga's appearance in a Seattle District Court, where he pleaded not guilty. Braga is accused of running a Ponzi scheme, promising investors high returns on their Bitcoin investments. Instead, he allegedly used funds from new investors to pay earlier investors, while diverting millions of dollars for personal use ¹.
Braga faces 13 charges, including electronic fraud and conspiracy, which carry a maximum sentence of 20 years in prison. His trial is set for April 28 ².
#Bitcoin #Cryptocurrency #Scam #PonziScheme #TradeCoinClub #DouverTorresBraga #USDepartmentOfJustice #CryptocurrencyFraud #FinancialCrime
