A Brazilian court has ordered the "Bitcoin Pharaoh" Glaidson, who is suspected of operating a pyramid scheme, to compensate cryptocurrency investors and creditors nearly $3.7 billion
According to Chain Catcher news and Brazilian media O Globo, a judge from the Federal Court of Rio de Janeiro ordered a businessman and former pastor known as the "Bitcoin Pharaoh," Glaidson Acácio dos Santos, to pay 19 billion Brazilian reais (nearly 3.7 billion USD) to the commercial court as compensation for the cryptocurrency investors and creditors of his company GAS Consultoria. It is reported that the company has 122,072 registered investors, with a total amount reported by creditors of approximately 9 billion reais.Glaidson was arrested in August 2021 and was accused by the Federal Public Ministry (MPF) of leading a criminal organization responsible for launching a millionaire financial pyramid scheme in the Cabo Frio area of Lagos, suspected of being a Ponzi scheme. A total of 591 bitcoins (worth nearly 28 million USD at the time), as well as watches, jewelry, and other items, have been seized. (Source link)