"Brazilian Court Sentences Cryptocurrency Fraudsters to a Total of 171 Years in Prison"
Son Min
Summary
- A Brazilian court has sentenced executives of Brace Company involved in cryptocurrency fraud to a total of 171 years in prison.
- Three executives defrauded approximately 20,000 investors, embezzling $190 million.
- This highlights the risks of cryptocurrency investment and suggests the need for stronger regulations.
A Brazilian court has sentenced executives of the cryptocurrency fraud company, Brace Company, to a total of 171 years in prison.
According to CoinDesk on the 18th (local time), the Brazilian court sentenced three executives of Brace Company, accused of cryptocurrency fraud, to a total of 171 years. Joel Pereira de Souza, the mastermind behind the case, received a 128-year sentence, while the other two received sentences of 27 years and 15 years, respectively.
Previously, they had promised profits to 20,000 investors and embezzled $190 million.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin breaks below $70,000… Korea premium at 0.31%](https://media.bloomingbit.io/PROD/news/74018332-717e-4495-9965-328fe6f56cb4.webp?w=250)
