Brazilian Crypto Ponzi Scheme Busted: Braiscompany Leaders Sentenced
Three key figures behind Brazil’s largest crypto Ponzi scheme, Braiscompany, have been sentenced to a combined 171 years in prison for defrauding over 20,000 investors out of $190 million (R$1.11 billion).
Joel Ferreira de Souza, the scheme’s mastermind, received 128 years for running an unlicensed financial operation and laundering money. His partners, Gesana Rayane Silva and Victor Veronez, were sentenced to 27 and 15 years respectively.
Braiscompany promised high crypto returns but operated as a pyramid scheme, using new investor funds to pay earlier participants. Only R$36 million in assets were recovered, and victims are urged to file claims before funds are absorbed by the state.
This case marks a major win for Brazilian regulators cracking down on crypto fraud.
