Brazilian authorities have delivered a historic sentence in one of the country’s largest cryptocurrency fraud cases.
Joel Ferreira de Souza has been sentenced to 128 years in prison for his role in laundering funds tied to Braiscompany, a collapsed Ponzi-style crypto investment scheme that ran from 2018 to 2023.
Operating under the guise of a legitimate blockchain firm, Braiscompany attracted over 20,000 investors with monthly return promises of 8%.
Behind the scenes, funds were funneled through a complex network of shell companies and proxy accounts — a system de Souza was found to have managed. Losses are estimated at over $190 million.
Other key players also faced steep penalties. De Souza’s son received 15 years, while top recruiter Gesana Rayane Silva was sentenced to nearly 28 years, bringing her combined convictions to over 40.
Meanwhile, the scheme’s founders, Antônio “Neto” Ais and Fabrícia Farias Campos, were arrested in Argentina after over a year on the run and sentenced earlier in 2024 to 88 and 62 years, respectively.
By early 2023, payments to investors had all but stopped. The collapse triggered Operation Halving — a national investigation that uncovered the scheme’s scale and led to raids, arrests, and legal action against its architects. The latest sentence, focusing on the laundering side of the operation, underscores Brazil’s growing crackdown on crypto-related financial crimes.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/mastermind-of-brazilian-crypto-scheme-sentenced-to-128-years/