PF fights fraud of R$ 4 billion in cryptocurrencies in Brazil

PF fights fraud of R$ 4 billion in cryptocurrencies in Brazil

This Thursday (6th), the Federal Police fought a criminal organization suspected of fraud involving cryptocurrencies in Brazil and abroad. In Brazil alone, fraud can reach R$ 4 billion.

The PF fulfills twenty search and seizure warrants, confiscation of properties and blocking of money of those involved by determination of the Federal Court whose warrants are being fulfilled in the cities of Curitiba, São José dos Pinhais, in Paraná; Governor Celso Ramos, in Santa Catarina; Barueri and São José do Rio Preto, in the state of São Paulo; and Angra dos Reis, in Rio de Janeiro.

The Poyas operation seeks more evidence to help with investigations that investigate the practice of crimes against the economy, national financial system, embezzlement and transnational money laundering and criminal organization. The money obtained by the organization was used to purchase high-value real estate, luxury cars, boats, renovations, designer clothing, jewelry and travel. The PF has so far seized several luxury cars, gold bars, money, watches, several sneakers, rare wines and even a replica of the ark of the alliance.

The investigations in Brazil and abroad began in March of this year after the transfer of information, the request for cooperation from Interpol and the request for international police cooperation from Homeland Security Investigations (HSI), from the Department of Homeland Security of the United States Embassy, in Brasilia. The US agency informed the PF that an international company operating in the country, with its main manager being a Brazilian who lives in Curitiba, was being investigated for a financial pyramid scheme with the commercialization of cryptocurrencies.

The investigation pointed out that the gang had been carrying out the scams in Brazil and abroad since 2016. The businessman targeted by the operation committed fraud within the offices of his business group in Curitiba.

In Brazil, the entrepreneur deceived thousands of people who believed in the service promised by their companies, which consists of renting crypto assets with monthly payments that would reach up to 20% of the money invested. The investigated said that he had great experience in the technology and crypto-assets market and informed clients that he had a large team of traders who carried out operations with rented cryptocurrencies and, in this way, they would make a profit to support the payment of income.

The PF discovered that the businessman set up a criminal network with several family members who worked in his companies and appropriated various amounts invested by customers, both in reais and in cryptocurrencies.

The criminals had partners abroad who carried out the same frauds but with a focus on multi-level marketing, in the United States and in 10 other countries.

They created the very cryptocurrencies used to trade through the companies, and advertised absurd returns. But crypto assets had no backing or liquidity in the market.

Source: CNN Brasil