Brazilian Court Sentences Crypto Fraudsters to 171 Years in Prison
By This week, the Brazilian federal court has made a decision that sent shockwaves through the country’s legal system. The three key figures in the Braiscompany cryptocurrency pyramid scheme were handed down severe sentences, with a collective total of 171 years in prison.
Joel Ferreira de Souza, identified as the mastermind behind the financial fraud, received the harshest punishment. He was found guilty on 11 counts of money laundering and sentenced to 128 years, 5 months, and 28 days in prison. De Souza managed illicit financial dealings through offshore companies and conducted unofficial cryptocurrency transactions, enticing investors with the promise of substantial returns.
Diana Rayane Silva, the broker of the company, also felt the full force of the law. She was sentenced to 27 years for transporting cash and facilitating illegal financial operations. Victor Augusto Verones de Souza, the son of the cryptopyramid’s ringleader, was given 15 years for his role in companies that assisted in money laundering.
Moreover, all those involved had their assets seized, along with 36 million reais.
According to Brazilian media, these three defendants were part of a well-structured cryptocurrency scam that defrauded nearly 20,000 investors out of 1.11 billion reais (approximately $220 billion).
A year ago, Braiscompany owner Antonio Inacio da Silva Neto and his partner Fabricia Farias Campos were extradited from Argentina. They were subsequently sentenced to 150 years in prison.
