Brazilian police crack down on crypto pyramid scheme
As multiple local outlets report, today in Brazil a nationwide raid against the company "Forcount" has ended.
As several local media outlets report, today Brazil wrapped up a nationwide raid on the company "Forcount". The crypto pyramid scheme allegedly defrauded investors of nearly 4 billion Brazilian reais, just under 770 million dollars. More than 100 police officers took part in 20 searches across several states, seizing cash, luxury cars, designer clothing, boats, and jewelry.
Forcount lured investors with its own coin, promising a 20% return. Many of them, however, would not have received any money. Among the victims are Brazilian top model Sasha Meneghel and several professional footballers. In addition to Brazil, investors from the U.S. and at least ten other countries reportedly invested in the project. Police have also opened an investigation into the alleged mastermind, Francisley Valdevino da Silva, better known as the "Bitcoin Sheik". He stated that he was available "to help clarify the facts".
