Brazilian national faced with a sentence for 290 million Bitcoin schemes

The Brazilian citizen appeared in the American District Court in Seattl after extradition from Switzerland to face charges of $ 290 million.

Toward announcement From the American Ministry of Justice, Double T. Braga stated that he was not guilty of the indictment in 13 ° C regarding the processing of wires and conspirators regarding the Club Club (TCC) scheme.

Braga, 48, operated on the TCC since 2016. until 2021., above all, primarily in Florida. The platform, allegedly in Belize, over 126,000 members in 231 states promising return through Bitcoin (Btc) Software for trade.

However, investigators did not find evidence of any trading platform or software existing.

The Bitcoin Fraud included 82,000 BTCs

The indictment reveals that investors have entrusted more than 82,000 Bitcoin, worth over 290 million dollars during the investment period, TCC.

Braga allegedly assessed these funds, carrying at least $ 50 million in Bitcoin on accounts within his control between December 2016 and July 2019. Years.

The acting of the American lawyer Teal Luthi Miller was characterized by the operation as a traditional ponzi scheme, where early investors were paid using the deposits of newer participants. Braga promoted the TCC in the global side, spent presentations in Thailand, Nigeria and Macau during 2017. years.

The scheme began to appear at the end of 2017. when investors reported difficulties in accessing their funds. By January 2018, TCC announced its cessation of American operations and canceled user orders, guessing several investors in Washington State.

Federal investigators shared details on the main tax evasion, and Braga reportedly failed to report significant cryptocurrency salaries:

• 2017: He received $ 30.5 million in Bitcoin, reported $ 152,298 in income
• 2018: They received $ 131 million in Bitcoin, she reported $ 73,473 income
• 2019: received $ 10 million in Bitcoin, Revenue of $ 72,870

The accused is facing 12 points of wire fraud and a number of conspirations for the processing of wire fraud, each carries a maximum 20-year prison sentence if proven guilt.

This case joins the growing list of the main prosecutions of the criminal cryptocurca. In December 2024. years, Argentine authorities seized $ 3.5 million USDT wallet is connected to Rainbove Storage Ponzi Scheme. They also froze additional crypto banknotes and bank accounts of suspected participants.

In October 2024. years, Disbarred California lawyer David Kagel, 86, received Five years of probation and was ordered to pay $ 13.94 million to the ponzio cryptocurrency management creptic, which deceived investors of about $ 15 million.

The series of prosecution shows that the increasing focus is for the implementation of the Law on Cryptocurration Fraud through international jurisdictions. The agencies also cooperate and use different methods for monitoring and fucking crypto in these financial crimes.