Crypto Fraud Suspect to Pay $3.7B in Brazil

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A court from Rio de Janeiro has ordered Gladeson Acasio dos Santos, founder of GAS Consultoria, to deposit $3.7 billion to pay a compensation to the victims of a cryptocurrency fraud.

The decision was made on September 19 and he has been given 72 hours to make the payment.

The founder of GAS Consultoria was arrested in August last year in the operation Kryptos, which was linked to an alleged pyramid scheme. According to investigators, Santos acted as the organizer of a scheme whose victims were offered a yield of up to 15% per annum.

Then the police seized $28.7 million in cryptocurrency, $3.6 million in cash, 21 premium cars and various jewelry.

According to the publication, more than 122,000 investors fell victims to the scam.