The US Department of Justice (DOJ) seized $ 24 million worth of cryptocurrency, allegedly seized by fraud at Brazil’s request. It is claimed that the total value of cryptocurrencies earned illegally is over 200 million.
The United States Department of Justice (DOJ) stepped in for a fraud case in Brazil. According to the official press release of the US Department of Justice; As part of the legal agreement between the Federal Republic of Brazil and the United States, it seized the US-based cryptocurrency funds of Marcos Antonio Fagundes, who carried out illegal activities. The value of these crypto money funds was announced as $ 24 million.
Thousands of Brazilians defrauded for over $ 200 million
The Brazilian government for activities such as illegally operating financial institutions in the country, securities breaches and money laundering; The head of the company, accused of fraud, brought charges against Marcos Antonio Fagundes. The US decided to seize $ 24 million worth of cryptocurrencies held in the United States by Fagundes, who allegedly engaged in fraudulent activities at the behest of the Brazilian government.
It has been alleged that Marcos Antonio Fagundes deceived people online with a series of promises to invest in cryptocurrencies. The government claimed that Fagundes and his partners made false and inconsistent promises to investors about their investment plans. According to the disclosed information, thousands of Brazilians fell into the fraud network and lost more than $ 200 million.
The fraud lasted 2 years
Marcos Antonio Fagundes and other unnamed suspects allegedly continued their illegal financial activities between August 2017 and May 2019. Responding to the allegations, team members requested funds from potential investors online or by phone. They talked about a number of innovative investment opportunities with cryptocurrencies to the people reached.
Fagundes and other suspects told people who agreed to invest that funds would go into cryptocurrency investment. However, the investigation conducted by Brazil found that a small part of the funds were used for investment and the promised returns were not paid to investors.