Three key figures behind one of Brazil’s largest crypto scams have been sentenced to a combined 170+ years in prison for their roles in the fraudulent Braiscompany operation. The group tricked around 20,000 investors out of roughly R$1.11 billion (US$190 million) by promising high returns from crypto investments that never existed.
Court Gives Harsh Sentences After One of Brazil’s Biggest Crypto Scam
The main figure, Joel Ferreira de Souza, received 128 years, 5 months, and 28 days in prison for leading the fake investment scheme. He ran shell companies and moved funds through secret crypto wallets in an attempt to launder the money. Judge Vinicius Costa Vidor said the group “acted to disguise the illicit origin” of their operations.
Others convicted include:
- Gesana Rayane Silva – sentenced to 27 years, 10 months, and 10 days for managing money flow and deals.
- Victor Augusto Veronez de Souza – sentenced to 15 years for helping with illegal transactions. He is also Joel’s son.
The court found the defendants guilty of running a pyramid scheme that was disguised as a legitimate crypto business. The company looked professional on the outside, but it was built only to benefit the insiders.
Authorities have seized R$36 million in funds linked to the scam, but it’s unclear how much will be returned to victims. Victims’ lawyer Artêmio Picanço urged quick civil action:
“People have to file civil claims soon before the state takes the money.”
Two other people accused were acquitted due to lack of evidence.
This case follows the earlier arrest and extradition of Braiscompany founder Antonio Inacio Da Silva Neto and his partner Fabricia Farias Campos, who were captured in Argentina and brought back to Brazil.
- Da Silva Neto is serving 88 years.
- Campos received 61 years and 11 months.
The case highlights Brazil’s growing crackdown on crypto fraud and its efforts to hold perpetrators accountable.
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