Brazilian Court Sentences Three Executives of Braiscompany to 171 Years
A Brazilian court has sentenced three executives of the collapsed crypto scheme Braiscompany to a total of 171 years in prison, marking a significant outcome in one of Brazil's largest crypto fraud cases.
- Joel Ferreira de Souza, identified as the mastermind, received a sentence of 128 years for operating an unlicensed financial institution and laundering millions.
- Gesana Rayane Silva was sentenced to 27 years, and Victor Veronez to 15 years for their roles in managing funds and facilitating the scheme.
- The Federal Prosecutor’s Office accused five individuals of running a pyramid structure that raised R$1.11 billion ($190 million) from approximately 20,000 investors.
- Braiscompany promised high returns through crypto trading but allegedly operated a parallel system using informal transfers and high commissions.
- The court ordered the seizure of R$36 million, with unclear recovery prospects for victims. Victims must file civil claims promptly to protect their interests.
- Two defendants were acquitted due to lack of evidence, while others were found guilty of masking the illicit origin of funds.