Crypto Game
  • Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    K Wave Media Boosts Bitcoin Reserves, Shares Surge 130%

    K Wave Media Plans Bitcoin Acquisition, Stock Surges 130%

    K Wave Media’s Stock Soars Amid Bitcoin Investment Plan

    K Wave Media to Acquire Bitcoin in New Strategy

    Michael Saylor Initiates Sale of Bitcoin-Themed Ties

    Trump’s Bill Sparks Bitcoin Enthusiasm Among Economists

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    SEC Delays Decision on Canary’s Litecoin ETF Proposal

    SEC Delays Decision on Canary Spot Litecoin ETF

    SEC Postpones Decision on Canary’s Litecoin ETF Proposal

    SEC Postpones Decision on Canary Spot SUI ETF

    Cardano CEO Meets Franklin Templeton on Blockchain Strategy

    Dogecoin’s Bearish Pattern Indicates Upcoming 15% Price Drop

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Brazilian Crypto Ponzi Scheme Leaders Receive Lengthy Sentences

Solomon M. by Solomon M.
April 19, 2025
in Latest News
Key Takeaways:

  • Ponzi scheme leaders sentenced, largest crypto fraud penalty in Brazil.
  • Defrauded over 20,000 investors.
  • No significant impact on major crypto markets.

brazilian-crypto-ponzi-scheme-leaders-receive-lengthy-sentences
Brazilian Crypto Ponzi Scheme Leaders Receive Lengthy Sentences

The sentencing signifies a strong deterrent against crypto fraud in Brazil, primarily affecting the country’s retail investors without impacting global crypto markets.

The Braiscompany Ponzi scheme, led by Joel Ferreira de Souza, promised “20% monthly returns” attracting over 20,000 investors and causing losses of $190 million. The convicted leaders operated an illegal financial entity, laundering money through shell companies. Alongside de Souza, marketing director Gesana Rayane Silva and technical director Victor Augusto Veronez de Souza received lengthy prison terms. The scheme’s marketing was pervasive, targeting retail investors with direct promises and referrals.

“The sentences reflect a crackdown on ‘unlicensed financial institutions’ and crypto fraud, signaling aggressive new standards for enforcement.” — Federal Judge Vinicius Costa Vidor

The court’s decision, ordering the seizure of R$36 million, reflects Brazil’s commitment to cracking down on crypto fraud (Mitrade Privacy Policy) as articulated by Federal Judge Vinicius Costa Vidor. The event impacted the Brazilian retail investor community, with lawyer Artêmio Picanço advocating for the victims’ restitution. Despite the scheme’s largescale impact within Brazil, major cryptocurrencies like Bitcoin and Ethereum saw no substantial market disruption, underscoring limited broader market influence.

Analysts note similarities with past crypto fraud cases like BitConnect, indicating common patterns in sentencing severity and asset recovery challenges. There remains uncertainty regarding the full recovery of investor losses amid ongoing asset seizures and civil suits. The lack of significant market reaction following the sentencing is consistent with trends in previous crypto legal actions, which largely affect only direct participants.

Previous Post

Brazilian Court Sentences Crypto Ponzi Leaders to 171 Years

Next Post

Meme Coin Madness: 10 Picks About to Pop, Featuring Test, SLERF, and a Cat Surprise

Solomon M.

Solomon M.

Related Posts

Ripple CEO Denies $5 Billion Circle Acquisition Rumor

by Solomon M.
June 4, 2025

Ripple's CEO denies acquisition rumors; market remains stable with no impact on digital assets.

JPMorgan Chase Accepts Bitcoin Crypto ETFs as Loan Collateral

by Solomon M.
June 4, 2025

JPMorgan Chase to accept Bitcoin and crypto ETFs for loans, marking institutional adoption.

Binance Enhances Alpha Points Security Against Bots

by Solomon M.
June 4, 2025

Binance upgrades systems to prevent bot abuse in Alpha Points program, ensuring fair access.

Moscow Stock Exchange Lists BlackRock Bitcoin ETF Futures

by Solomon M.
June 4, 2025

Moscow Stock Exchange lists futures on BlackRock's Bitcoin ETF, a regulated crypto product for Russian investors.

Donald Trump Jr. Denies Involvement in $TRUMP Memecoin

by Solomon M.
June 4, 2025

Donald Trump Jr. disclaims connection to $TRUMP memecoin, focusing on stablecoins and Bitcoin mining.

WazirX Relocates to Panama after Singapore Court Rejection

by Solomon M.
June 4, 2025

WazirX moves to Panama following a Singapore court's rejection of its restructuring proposal, impacting users' funds.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.