$200 million fraud scheme disclosed in Brazil

Posted 23 May, 2019

Brazil's law enforcement authorities arrested 10 individuals that are suspected in the creation of the fraud scheme Indeal. The company worked without permits from the Central Bank. The size of the contribution to the project could not be less than $5,000. In the course of the investigation, it was possible to establish that the scheme was, in fact, a pyramid that would collapse at the first request to return the funds. About 55,000 people became victims which invested in a shady project. The suspects lured people with the promise of paying 15% in the first month after investing in a cryptographic scheme.

The police have withdrawn objects of real estate, 36 vehicles and large amount of fiat and valuables. The total amount of damage caused to investors exceeds $200 million. Currently, these arrested individuals are in custody. 

“The problem with this company is that it was acting without authorization,” Correido Do Povo states Delegate Eduardo Dalmolin Boliis of the federal police’s Office of Corruption and Financial Crimes as saying.

Earlier this year, a similar incident was recorded in China. Then the police managed to detain the suspects in the creation of a cryptocurrency pyramid for $193 million. Since the start of the project, the project has been able to attract more than $ 4 billion, but some of the funds were still returned to investors.

Previous story

24 May, 2019 11:15

← ESET report: Over 1,000 users download fake app from Google Play

On May 23, ESET, an international developer of antivirus programs and cybersecurity research, reported that the group of individuals added a fake cryptocurrency wallet to Google Play striving to make money on the rise in bitcoin prices.

ESET report: Over 1,000 users download fake app from Google Play

Next story

23 May, 2019 15:33

Central District Court in Israel classifies bitcoin as asset →

The Central District Court in Israel has decided to side with the Tax Service and determines the interpretation of bitcoin as an asset that is subject to capital gain tax. The decision was made under the case launched under petition lodged by the founder of a blockchain company against the Tax Service.

Central District Court in Israel classifies bitcoin as asset
Write a comment
Prove you’re not a bot + 11 = 29