Brazilian police have swooped on an alleged crypto pyramid scheme that appears to have sucked in a top model, soccer players, and more to the tune of $769 million.
Per Globo and UOL, police believe that an individual nicknamed the “Bitcoin Sheik” (real name Francisley Valdevino da Silva) masterminded the project, which revolves around a company named Forcount and a token named mindexcoin. Brazilian media outlets reported that the coin “has no market value” and is not listed on exchanges.
Francisley was described as the “main target” of a major operation named Poyais, launched by the Federal Police, who appear to have been tipped off by disgruntled investors. Some 100 police officers conducted a total of 20 raids across the nation – taking in states such as Santa Catarina, São Paolo, and Rio de Janeiro.
Lawyers representing the alleged victims have claimed that Forcount and mindexcoin are fronts for a financial pyramid whereby high-level investors were told they could expect to earn...
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