Argentine people are facing a$ 90 million Ponzi scheme for their investments in bitcoin.

Three men were given jail terms by a Portuguese judge this week for their involvement in a crypto-ponzi scheme that, according to prosecutors, conned investors out of about$ 90 million. &nbsp,

According to local media, the court sentenced Gesana Rayane da Silva, Victor Augusto Veronez de Souza, and Joel Ferreira de Souza to a combined statement of 170 years in prison for their roles in the Braiscompany. &nbsp,

According to the prosecution, Braiscompany promised to make false promises about Bitcoin assets. Brazilian police were looking into Braiscompany in 2023 after it was accused of being a dome system in 2021.

Ferreira de Souza, according to the prosecution, was the architect behind the program, and he was given the longest prison sentence of 128 ages. &nbsp,

The pair allegedly stole more than$ 1.1 billion Portuguese reais from about 20, 000 owners, many of whom reportedly plugged their personal savings into the plan, according to Brazil’s Federal Prosecutor’s Office, which is alleged to have paid for it with personal savings.

Authorities seized some of the defendants ‘ assets after they were ordered to pay back R$ 36.5 million ($ 6.2 million ) to investors. According to local media reports, the fraud was the biggest crypto de in the country’s story. &nbsp,

Brazil, the world’s largest economy, has the highest volume of Bitcoin ETFs, surpassing all other nations in the region, and many of the country’s major banks offer investors digital resource coverage.

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