Three people behind one of Brazil’s biggest crypto scams have been sentenced to a total of over 170 years in prison. The scam was led by Braiscompany, a crypto business that promised huge profits but turned out to be a fraud.
The court found them guilty of running a fake investment company that tricked thousands of people across the country. The main person behind the scheme, Joel Ferreira de Souza, received the longest sentence of 128 years, 5 months, and 28 days.
According to local report, he created shell companies, ran secret crypto wallets, and moved large sums of money illegally. Federal Judge Vinicius Costa Vidor said the group “acted to disguise the illicit origin” of the money.
Gesana Rayane Silva was sentenced to 27 years, 10 months, and 10 days. She helped move cash and made deals to keep the money flowing. Victor Augusto Veronez de Souza, Joel’s son, got 15 years for helping the company make illegal financial transactions.
The sentences come after Brazil’s Federal Prosecutor’s Office accused five people of building a pyramid scheme that raised around R$1.11 billion (US$190 million) from about 20,000 investors. These investors were told their money was being used in crypto trading, but most of it was moved through informal systems and used for personal gain.
Authorities also ordered the seizure of R$36 million from the group, although it’s unclear how much of that will be returned to victims. Lawyer Artêmio Picanço, who represents several victims, said they must act fast. “People have to file civil claims soon before the state takes the money,” he warned.
Two people were cleared of all charges after no evidence linked them to the crimes. The others were found to have built a fake system that looked real on the outside but was meant to benefit only insiders.
This case follows the arrest and extradition of Braiscompany’s founder, Antonio Inacio Da Silva Neto, and his partner, Fabricia Farias Campos.
They were caught last year in Argentina and brought back to Brazil. Da Silva Neto received 88 years in prison, while Campos got 61 years and 11 months.
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