The main culprit of the $190 million Crypto Assets eyewash in Brazil was sentenced to 128 years.

BlockBeats news, on April 18, according to CoinDesk, the Brazilian Federal Court recently made a final ruling on the fraud case of the crypto assets platform Braiscompany, sentencing three main perpetrators to a total of 171 years in prison, setting a record for sentencing in Brazilian crypto asset fraud cases. Presiding Judge Vinicius Costa Vidor determined that the principal offender Joel Ferreira de Souza laundered millions of dollars through shell companies and unregulated crypto wallets, constituting the crime of “operating a financial institution without permission.” Investigations revealed that the gang lured investors with a promise of 20% monthly returns and developed a downline through a tiered rebate model, ultimately leading to approximately 20,000 investors losing a total of about 1 billion reais (approximately 190 million USD). Principal offender Joel Ferreira de Souza received a combined sentence of 128 years for financial crimes and money laundering, the platform’s market director Gesana Rayane Silva was sentenced to 27 years for false advertising and aiding money laundering, and technical director Victor Veronez was sentenced to 15 years for falsifying transaction records.