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Argentine Police Arrest Brazilian Couple Running a Crypto Ponzi

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Argentina’s Federal Police (PFA) has arrested a wanted couple involved in a cryptocurrency Ponzi scheme valued at $400 Million. 

Reports from a local media outlet have revealed the Federal Police of Argentina (PFA) were able to arrest Antonio Inacio Da Silva Neto and his wife, Fabricia Farias Campos. The couple was based in Brazil. The Federal Police of Argentina’s Interpol Division conducted the investigation, confirming the allegations against the couple and leading to their arrest.

The couple was accused of deceiving investors by running an elaborate Ponzi scheme. It encouraged investors to invest substantial sums in the scheme and, in return, offered lucrative returns through crypto investments. Ponzi schemes are fraudulent investing scams that generate returns for earlier investors with money taken from later investors. Those schemes are named after the infamous Swindler Charles Ponzi. 

What led to the arrest?

The investigation against the couple revealed that the couple attempted to vanish in early 2023 after earning millions of dollars through the operations of Braiscompany. The subject couple owned and managed Braiscompany, a fraudulent crypto firm.

In 2023, Brazilian legal authorities charged the owners and the company with fraud and crimes against the country’s financial system and ordered arrest.

The couple initially fled to Dubai to prevent the arrest after depositing the earned funds into multiple bank accounts. The Brazilian scammers were finally spotted in Argentina. There, they were living a luxurious life under the disguise of fake and forged identities, and they had even changed their physical appearances for almost a year. 

How was the final arrest executed?

The investigations into the infamous couple’s case began in March last year, and all the attempts to find them went in vain. Argentina’s Federal Police recently succeeded in arresting the couple. 

The police were able to arrest the couple by tracking the movements and expenses of Da Silva Neto across gyms, supermarkets, and other places.

This tracking hint led the authorities to the Haras Santa Maria Country estate, approximately 50 kilometers from the Federal Capital, from the place where the couple was residing with forged identities. 

The news of this long-awaited arrest emphasizes the risks associated with the growing crypto markets. 

Court Orders

After the couple’s arrest for the operation of a cryptocurrency Ponzi scheme, Da Silva Neto was sentenced to 88 years, whereas his wife was sentenced to 71 years. 

Moreover, severe punishments are added to prison sentences. The severe punishments include certain financial obligations, such as paying a penalty of around $76 million.

The arrest in Argentina shows the commitment of international law enforcement agencies to reduce financial crimes in the digital age. The joint efforts of the Federal Police and INTERPOL highlighted the increasing scrutiny of crypto transactions, especially those suspected of fraudulent activities. 

This arrest is a cautionary event for investors in digital assets. Due diligence is a crucial step that every crypto investor should perform with all sincerity. It further highlights the increasing effectiveness of international cooperation in detecting and acting against individuals attempting to exploit the crypto ecosystem for illegal gains.

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