$300 Million Crypto Investment Scheme Cracked by Police in Brazil

[mlawson71]

After three years of investigation Brazillian police apprehended people participating in a massive crypto-investment fraudulent scheme. The company behind the scam, Bitcoin Banco Group, has operated as a hidden investment fraud agency for a while now and it has been investors’ funds.
According to recent reports, the company has stolen from more than 7000 investors and has made off with 300 million US dollars (that’s 1.5 billion Brazillian reals). The company was led by one Cláudio Oliveira, a.k.a ‘The Bitcoin King’. He was arrested along with his accomplices.
About 90 federal police officers participated in the operation called “Operation Daemon”, investigating the company’s money-laundering operations, bankruptcy crimes and various embezzlement activities. They were assisted by both US and European agencies.
Source
It’s good the scammers were arrested, now let’s see whether they’ll be convicted too.