Brazil Breaks $767 million crypto scam
Brazilian police have issued an arrest warrant for the head of a $767 million cryptocurrency ponzi scheme.
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On October 6, 100 police officers took to the streets of 6 Brazilian cities, carried out searches, confiscated properties and arrested Francisley Valdevino da Silva, the “final boss” of a 767 million cryptocurrency scam model. USD for the past 6 years.
According to US Immigration and Customs Enforcement , federal police have carried out 20 manhunts across four Brazilian states for money laundering and fraud. Speaking about the line of the 37-year-old Brazilian "leader", the agency said:
“The organization allegedly misled investors in more than a dozen countries by falsely claiming that it had developed radical, licensed crypto-related financial products. full motion.”
According to police, da Silva, known as a “crypto sheik” and a former US resident, directed his accomplices to appropriate more than 4 billion reals ($767 million) from thousands of Brazilian investors and goods. dozens of other countries through promising profits, up to 20%/month. In fact, the suspects spent the above money on real estate, cars, boats, clothes, jewelry, etc. But da Silva's lawyer confirmed that the client had cooperated with the investigation and presented himself to the authorities.
Police have dubbed the crackdown "Operation Poyais," after a fictional Central American region created by notorious 19th-century Scottish swindler Gregor MacGregor. The MacGregor scam caused the stock market crash of 1825 by defrauding British and French investors in hopes of making a "new world" fortune out of the equivalent of about $5 billion. nowadays.
In a similar situation, the US Department of Justice is also prosecuting a California man for using crypto to cover up more than $5 million in drug money, FoxCryptoNews reported this morning.
Oct 10, 2022