Gold bars, cash, jewelry, cars and luxury watches bought with defrauded funds are seized.
Brazil’s Federal Police (PF) reportedly halted the operations of a crypto organization that authorities claim defrauded thousands of people worldwide and laundered hundreds of millions in illicit funds.
Though authorities did not name suspects, local Brazilian media has identified the organization’s leader as businessman Francisley Valdevino da Silva, coined the “Bitcoin Sheikh,” the head of a digital asset investment platform that allegedly embezzled funds from over 10 countries.
Law enforcement agents raided 20 addresses linked to the organization on Thursday after a collaborative investigation with U.S. authorities suspected the group of laundering up to US$769 million over the past several years, the authorities said in a statement.
Victims were reportedly assured by the company that a large team of experienced crypto experts would take their funds and pay back monthly returns of 20...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...