A criminal organization that imitated emerald mining activities was pursued by the Federal Police on Tuesday morning (5), with court orders enforced in towns on the north coast of Santa Catarina, one of which is Balneario Camboriu, where the company is headquartered . .

The criminal group seized investments in several countries through bitcoin deposits, promising the victims high returns that were never credited to the investors. The estimated amount of damage is 493.9 million reais.

The group injured more than 25,000 people in several countries, worth about 493.9 million reais, as a result of alleged investments in bitcoins – Photo: Federal Police / Reproduction

The Federal Police issued three preventive arrest warrants and 11 search and arrest warrants in Balneario Camboriu, Itajai, Itapema, Ilhote, as well as in the cities of Farroupilha (RS) and Paraiso do Tocantins (Thomas). The legal action was taken by the 1st Itajai Federal Court and also includes the freezing and seizure of the assets of persons under investigation.

Federal Police issues three preventive arrest warrants and 11 more court orders – Video: Federal Police/Reproduction

At least 25,000 people affected by investment bitcoins

The investigation revealed that videos were used that showed false characteristics of a company that included its own digital banks. To increase the credibility of the fake investment, the criminal organization invited people featured in the media to travel to Brazil, where they took part in events, received valuable prizes, and received alleged gemstone mining and cutting sites.

The crime ring flaunted a luxurious celebrity lifestyle in videos and trips to attract new victims – Photo: Federal Police/Reproduction

So far, about 2,500 direct victims have been identified from at least 18 countries, mostly from South and Central America, including Brazil. In total, it is estimated that around 25,000 people were affected by the fraudulent scheme. The federal police did not disclose the name of the investment company.

In addition to the three arrested, five more were charged with criminal association, money laundering, embezzlement and crimes against the national financial system and the people’s economy. Punishments for such crimes can reach the maximum prison sentence in Brazil, i.e. 30 years.