Brazilian citizen arrested on cryptocurrency fraud charges at $300 million – Bits Media

Claudio Oliveira arrested by Brazilian federal police following a three-year investigation (Claudio Oliveira) nicknamed "The King of Bitcoin", who is accused of fraud on $300 million.

Oliveira served as president of Bitcoin Banco Group, a popular financial firms, who made a name for herself during the paper of cryptocurrencies. Representatives of the company promised a huge profit to depositors, But as a result at the end 2019 The company announced the "loss" year 7 000 BTC.

After that, Bitcoin Banco Group filed a petition for the authorities for help - in Brazil there are special procedures, allowing companies to reorganize, To avoid bankruptcy and pay debts to investors.

Despite this, The company continued to provide services and accept funds from new investors. In this regard, the police launched an investigation against the leadership of the site. As a result, law enforcement agencies managed to collect enough evidence for the arrest of oliveira.

Besides, The police confiscated oliveira some assets, Including luxury cars, a large amount of cash and several hardware cryptocurrency wallets.

Oliveira is accused of fraud, money laundering and other financial crimes. Interesting, that international law enforcement agencies confirmed, that the "King of Bitcoin" was persecuted on similar charges in the USA and Europe.

At the end of last year, the American authorities confiscated $24 Milln in cryptocurrencies at the request of the Brazil government. The funds lay on the wallets of Marcos Antonio Fagundes (Marcos Antonio Fagundes).