Brazilian Crypto Scammer Arrested, $24 Mln Seized

The US Department of Justice (DOJ) confiscated $24 mln in cryptocurrency at the request of the Brazilian government. These funds are allegedly linked to a cryptocurrency investment scheme that has poached over $200 mln from tens of thousands of Brazilians.

Brazil has announced the seizure of cryptocurrency funds held in the USA from Marcos Antonio FAGUNDES, who faces multiple charges in Brazil, including illegal management of a financial institution, securities violations, and cryptocurrency money laundering.

The authorities say Fagundes and his partners made false and inconsistent promises regarding the proposed investment plans and expected returns for their clients. According to the statement, the United States seized Fagundes' assets in the United States under the Mutual Legal Assistance Treaty in Criminal Matters between the United States of America and the Federative Republic of Brazil.

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