₦airaland Forum

A court in Rio de Janeiro has asked the founder of GAS Consultoria, Acacio dos Santos, to make a deposit of 19 billion Brazilian reais ($ 3.7 billion). The funds will be used to pay compensation to victims of cryptocurrency fraud, writes O Globo.

The decision was made on September 19. Santos had 72 hours to comply.

In August 2021, the founder of GAS Consultoria was arrested during the Kryptos operation, related to an alleged pyramid scheme. According to the investigation, Santos acted as an organizer of the scheme – its victims were offered returns of up to 15% per annum.

The police seized cryptocurrency worth 150 million reais ($28.7 million), $3.6 million in cash, 21 premium cars, and various pieces of jewelry.

According to the publication, more than 122,000 investors were affected by the fraud. Authorities have also charged Santos with felonies, including murder.

Earlier, the Brazilian Federal Police destroyed another crypto fraud scheme called Bitcoin Banco Group, about 7,000 people invested in the scheme. Its leader Claudio Oliveira, known as the “King of Bitcoins,” was arrested.

In January 2022, Brazilian authorities detained the founder and CEO of the cryptocurrency pyramid scheme Mirror Trading International, Johann Steinberg, who was wanted by Interpol and the FBI in 2019.

https://altcoin.ng/crypto-fraudster-ordered-to-pay-3-7-billion/

Crypto and fraud goes hand in hand, just few of them are genuine.

One person to pay 3.7 billion Dollar? It means he stole the whole world.

3.7 billion dollars? Mehn,money dey where e dey o

They should Ban crypto-currency worldwide, it’s doing more harm than good in general, big avenue for all type of crime and scam