In one of Brazil’s most severe financial fraud rulings, the federal court sentenced three members of the collapsed crypto scheme Braiscompany to a combined 171 years in prison.
Joel Ferreira de Souza, the operation’s ringleader, received 128 years for orchestrating a pyramid scheme that laundered funds through shell companies and shady crypto transactions. His son, Victor Augusto Veronez de Souza, was sentenced to 15 years, while broker Gesana Rayane Silva got 27 years for her role in the operation.
The court found the group defrauded nearly 20,000 investors out of R$1.11 billion (around $220 million), calling Braiscompany a parallel financial system built to hide money flows.
Authorities seized R$36 million in assets, now ordered to be transferred to the Brazilian government. The verdict follows the 2023 extradition and sentencing of Braiscompany founder Antonio Inacio da Silva Neto and his partner, Fabricia Farias Campos, who received a combined 150-year prison term.
This landmark case highlights the growing crackdown on crypto-related fraud in Brazil.
Image Credit: Pixabay
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