On February 22nd, COINOTAG News reported that Douver T. Braga, a Brazilian national, has been extradited to the United States from Switzerland amid allegations concerning a fraudulent $290 million Bitcoin Ponzi scheme. Braga is set to face multiple charges, including 12 counts of wire fraud and one count of conspiracy to commit fraud, which could result in a maximum prison sentence of 20 years. His operation, the Trade Coin Club (TCC), purported to utilize an advanced algorithm for profit generation, yet it has been identified as a Ponzi scheme responsible for the loss of approximately 82,000 bitcoins. Investigators revealed that over $50 million was directly funneled into Braga’s personal accounts. This investigation was spearheaded by the FBI and IRS Criminal Investigation Division. Braga, who has denied all allegations, is expected to stand trial on April 28, 2025.
Source: https://en.coinotag.com/breakingnews/former-brazilian-man-extradited-to-u-s-for-alleged-290-million-bitcoin-ponzi-scheme/