The 13 accused of operating a financial pyramid from Balneario Camboriu, which resulted in a loss of more than 7 million reais, are prohibited from raising funds and maintaining contacts with victims and witnesses under the threat of preventive arrest.

Accused of operating a pyramid scheme in South Carolina removed from the market — Photo: Michael Wuensch/Pixabay/Disclosure/ND

The court also determined that the company responsible for attracting investments was also suspended from activities. The decision was taken as part of Operation Cryptocurrency, developed jointly by the 6th Prosecutor’s Office and Gaeco (Special Action Group to Combat Crime Organizations) in June 2020.

According to the 6th prosecutor’s office, the company appeared to be an alleged investor in cryptocurrencies, but in fact operated a financial pyramid, moving cash and cryptocurrencies. In addition, the company continued to run misleading advertisements, spreading false information, promising very high returns on capital invested.

By building a sophisticated visual identity and furnishing a luxurious office, the company would lure victims with promises of exorbitant profits. To mask the scheme, she offered a benefit plan for those who recommended other people to invest in the company.

The defendants continued to hide the origin of the valuables by using bitcoins to bypass verification, as they had no regulation provided by either the SEC (Securities Commission) or the Central Bank.

The 13 convicts were charged by the MPSC (Ministry of State of Santa Catarina) with crimes against consumer relations (fraudulent advertising), crimes against the people’s economy (pyramid scheme), embezzlement, money laundering and belonging to an organization. criminal. The complaint of the ONPC was submitted to the court, and the defendants formally became defendants in the criminal case.