Brazillian Police Raid ‘Bitcoin Sheikh’ for Defrauding Victims of $766M: Report
De Silva’s group is suspected of having defrauded and laundered up to 4 billion Brazilian reals (about $766 million) from “thousands” of Brazilians and citizens from at least ten other countries, according to the authorities. Victims were promised monthly returns of up to 20% on their investments.
The gang even reportedly created and marketed their own cryptocurrencies, although on investigation, the assets had no backing or liquidity. Local news source g1 said that several domestic celebrities were defrauded by da Silva’s scheme, including Sasha Meneghel, daughter of Brazilian television star Xuxa, who reportedly lost 1.2 million reals (about $230,000), alongside several unnamed soccer players. Members of Da Silva’s family have been implicated.