Brazilian Court Sentences Crypto Fraudsters to Over 170 Years

A Brazilian court has handed down a lengthy prison sentence to three individuals responsible for one of the country’s largest crypto scams. The perpetrators behind Braiscompany, a fraudulent investment scheme promising lucrative returns, have been sentenced to a combined total of over 170 years in jail. Joel Ferreira de Souza, the mastermind behind the operation, received the most severe sentence – 128 years, 5 months, and 28 days. The court found that Braiscompany ran a fake investment company designed to lure thousands across Brazil into believing their money was being invested in legitimate crypto trading schemes. The group’s illicit operations involved creating shell companies, operating hidden crypto wallets, and moving large sums of money illegally.