Well-known cryptocurrency pyramid has been declared bankrupt

A cryptocurrency financial pyramid that operated in Brazil until 2019, when it was targeted by the Federal Police’s Operation Egypt, was declared bankrupt by the courts in recent days.

Indeal is a company suspected of scamming thousands of investors with promises of easy profits in the cryptocurrency market.

In its region, the company became known to the population, because it competed with another pyramid, Unick Forex. Both companies shut down by the PF committed fraud and had assets seized and pledged in Rio Grande do Sul.

Indeal, financial pyramid of cryptocurrencies closed by the PF, has been declared bankrupt by the court

After a few years, federal justice finally declared bankruptcy for Indeal, which had been handling the case since 2019. Information comes from GauchaZH.

With more than 20,000 customers, the company may have raised more than 1 billion reai from investors. The main customers came from Novo Hamburgo, in Vale dos Sinos, but also from all over Brazil.

Now that the bankruptcy has been declared, the assets seized by the PF must be forwarded to Novo Hamburgo’s bankruptcy court, which is available for trial. Indeal and its partners seized real estate, luxury vehicles, bitcoins and other cryptocurrencies during Operation Egypt.

In addition, new requests for reserves of value, liens and information about suspects can no longer be approved by the court.

The criminal case against the suspects is still pending in court

There is still a lawsuit against Indeal pending in the court which has not yet been finalized, as has the recent bankruptcy process that has taken place in recent days.

The other trial, which takes place in the criminal sphere, investigates the fraud committed by Indeal and its partners and should end soon, with the judiciary deciding on the punishment of those responsible.

During the period of illegally collecting money from investors, the company from Rio Grande do Sul promised fixed income per month with high profitability. Many clients sold their homes, cars and deposited their savings into the company’s pledges, which later turned out to be completely fraudulent.

After the Egypt operation, it became clear that the leaders of the plan were wasting a life of luxury with the funds of the clients, this was another notable episode of the financial pyramids that associate the image of cryptocurrencies in Brazil.

All suspects respond to crimes of criminal organization, money laundering, operating without authorization, fraudulent management, embezzlement and embezzlement, among others. Finally, in the third and final phase of Operation Egypto, in 2021, suspects were arrested and the fraud was better clarified for investors.