The Brazilian justice system sentenced Joel Ferreira de Souza to 128 years, 5 months, and 28 days in prison. Souza was identified as the main operator of Braiscompany, a Brazilian crypto scheme that raised over $100 million from nearly 20,000 investors.
Brazilian Crypto Ponzi Scheme Operators Receive Combined Sentences of Over 170 Years in Prison
The Brazilian justice system finalized a case against the leaders of Braiscompany, one of the largest cryptocurrency schemes ever registered in the country. According to case files obtained by local media, three individuals were found guilty of different crimes and sentenced to spend over 170 years in prison.
Gesana Rayane Silva, Joel Ferreira de Souza, and Victor Augusto Veronez de Souza were identified as part of the Braiscompany operation, each providing different services that helped obfuscate the destination of the investors’ funds.
De Souza was identified as the main operator of the scheme, operating several shell companies and managing crypto portfolios for third parties with a high yield. De Souza was found guilty of 11 charges of money laundering, receiving a sentence of 128 years, 5 months, and 28 days in prison.
Rayane Silva was recognized as one of the company brokers, also providing cash transportation and financial transaction intermediation. Silva was sentenced to 27 years, 10 months, and 10 days in prison.
Lastly, Veronez de Souza, identified as Joel’s son, was part of a company facilitating illicit financial transactions for Braiscompany. For these crimes, he was sentenced to 15 years in prison.
Two individuals were acquitted of any wrongdoing, as there was no evidence linking them to the money laundering crimes. The sentence concludes the legal actions against Braiscompany, a cryptocurrency investment scheme that moved over $400 million from its investors in Brazil.
Last year, Braiscompany’s mastermind and owner, Antonio Inacio Da Silva Neto, and his partner, Fabricia Farias Campos, were arrested in Argentina and extradited to Brazil. The couple escaped the country as they were also sentenced to spend over 150 years in prison, 88 years and 7 months for Da Silva Neto and 61 years and 11 months for Farias Campos.
Read more: Founders of $400 Million Cryptocurrency Ponzi Scheme Arrested in Argentina
