Three executives from the cryptocurrency scheme Braiscompany, which defrauded 20,000 investors out of approximately $190 million, have been sentenced to a total of 171 years in prison by a Brazilian court. Joel Ferreira de Souza, the alleged mastermind, was sentenced to 128 years, while his associates, Gesana Rayane Silva and Victor Veronez, received 27 and 15 years, respectively. The court found them guilty of running an unlicensed financial institution and money laundering. Braiscompany had promised high returns through crypto trading but operated a pyramid scheme that involved illegal financial practices, raising substantial funds through informal transfers and high commissions. The court also ordered the seizure of R$36 million, though it remains uncertain how much victims might recover. A lawyer representing the victims indicated that affected individuals need to file civil claims promptly to avoid loss of recoupable funds. In the case, two defendants were acquitted due to insufficient evidence, while the judge accused the others of disguising the illegal origins of their money, enriching themselves at the investors' expense.

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