Published 2 years ago

Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'

Summary by Ground News

Glaidson Ac�cio dos Santos is the central figure in what is alleged to be one of Brazil's biggest-ever pyramid schemes. He is in a Rio jail awaiting trial on charges including racketeering, financial crimes and ordering the murder and attempted murder of two business competitors. The case underscores the fast-growing appetite for cryptocurrencies in Brazil.

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Associated Press News

Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'

CABO FRIO, Brazil (AP) — In April, Brazil’s federal police stormed the helipad of a seaside hotel in Rio de Janeiro state, where they busted two men and a woman loading a chopper with 7 million reais ($1.3 million) in…

2 years ago·United States

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USA Today

Bitcoin pyramid schemes wreak havoc in Brazil

Cabo Frio, a seaside city of 230,000 people in Rio de Janeiro state, has been dubbed "New Egypt", due to a high number of alleged pyramid schemes defrauding thousands of small-scale investors who believed they were getting rich off Bitcoin's steep appreciation. (Jan. 22)

2 years ago·United States

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abc News

Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'

In April, Brazil’s federal police busted two men and a woman loading a chopper with 7 million reais — $1.3 million — in neatly packed bills

2 years ago·United States

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The Washington Post

Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt' - The Washington Post » How To Asset Manage Magazine

Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt' - The Washington Post » Read all about it and more in the category.

2 years ago

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KRDO

Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'

By DIANE JEANTET Associated PressCABO FRIO, Brazil (AP) — In April, Brazil’s federal police busted two men and a woman loading a chopper with 7 million reais — $1.3 million — in neatly packed bills. The detainees told police they worked for G.A.S. Consulting & Technology, a cryptocurrency investment firm founded by a former waiter-turned-multimillionaire and the central figure in one of Brazil’s biggest-ever alleged pyramid schemes. Police say t…

2 years ago·Colorado Springs, United States

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