{"id":41371,"date":"2023-07-27T21:46:37","date_gmt":"2023-07-28T01:46:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/brazilian-police-swoop-on-suspected-crypto-pyramid\/"},"modified":"2023-07-27T21:46:39","modified_gmt":"2023-07-28T01:46:39","slug":"brazilian-police-swoop-on-suspected-crypto-pyramid","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=41371","title":{"rendered":"Brazilian Police Swoop on Suspected Crypto Pyramid"},"content":{"rendered":"
\n

Brazil\u2019s police force has conducted raids on addresses linked with Braiscompany, a suspected crypto pyramid. The firm\u2019s owners have allegedly escaped the country with around $160 million worth of customers\u2019 funds.<\/p>\n

Police launched an investigation into the firm, codenamed Operation Halving, earlier this year.<\/p>\n

And in an official release, officers said that the latest phase of this operation saw officers seize some $28.7 million worth of assets in raids on addresses linked to the firm in S\u00e3o Paulo and Aracaju.<\/p>\n

The raids were carried out in conjunction with the Federal Public Ministry.<\/p>\n

Officers published photographs of the raids.<\/p>\n

One of the properties appears to be an office, and was equipped with computer terminals and desks.<\/p>\n

One photo appears to show a box full of stickers featuring Bitcoin (BTC) logos.<\/p>\n

Brazil\u2019s Police Closing Net on \u2018Crypto Pyramid\u2019 \u2013 What We Know So Far<\/h2>\n

Braiscompany claimed it was a crypto \u201cbrokerage\u201d and rose in popularity during the coronavirus pandemic.<\/p>\n

The firm reportedly offered to pay investors monthly returns of up to 8% if they made cash or Bitcoin deposits on its platform.<\/p>\n

Officers said their raids were part of an effort to find \u201cmore evidence of fraud committed against investors from around Brazil.\u201d<\/p>\n

Braiscompany recruited \u201cmembers,\u201d who it in turn asked to recruit other people to the program.<\/p>\n

They were promised higher levels of returns for recruiting acquaintances, friends, and family members.<\/p>\n

Problems began in December last year, when some investors complained they could no longer withdraw funds from the platform.<\/p>\n

Early in 2023, the firm\u2019s owners went on the run, along with executives.<\/p>\n

Officers were shuttered, and in May, one was apparently emptied under the cover of night.<\/p>\n

Soon after, officers issued arrest warrants for several Braiscompany employees.<\/p>\n

Last month, the police announced the arrest of three Braiscompany-linked individuals in Foz do Igua\u00e7u, on the Brazil-Argentina border.<\/p>\n

The firm was founded by the couple Ant\u00f4nio Neto Ais and Fabr\u00edcia Campos, who are still at large and have been placed on the Interpol red list.<\/p>\n

Interpol calls on police forces around the world to detain individuals placed on the red list.<\/p>\n

Neto Ais and Campos are thought to have left Brazil.<\/p>\n

Police said that their latest investigations are focusing on a number of Braiscompany-affiliated \u201cbrokers.\u201d<\/p>\n

Officers said these individuals acted as \u201ccommercial representatives\u201d and actively sought new \u201cvictims for the scheme.\u201d<\/p>\n

The police did not state if further arrests had been made following the raids.<\/p>\n

Earlier this month, police announced they had taken down two crypto-powered money laundering rings, with suspects arrested in four Brazilian states.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Brazil\u2019s police force has conducted raids on addresses linked with Braiscompany, a suspected crypto pyramid. The firm\u2019s owners have allegedly escaped the country with around $160 million worth of customers\u2019 funds. Police launched an investigation into the firm, codenamed Operation Halving, earlier this year. And in an official release, officers said that the latest phase […]<\/p>\n","protected":false},"author":1,"featured_media":41372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-41371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBrazilian Police Swoop on Suspected Crypto Pyramid | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Brazil\u2019s police force has conducted raids on addresses linked with Braiscompany, a suspected crypto pyramid. 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