Judge indicates that Braiscompany is a financial pyramid and triggers contract insurance company

The judge of the capital’s 5th Civil Court, in Paraíba, Onaldo Rocha de Queiroga, granted the request of an investor injured by Braiscompany, who has not received his income since he signed a contract with the crypto brokerage last November assets .

This provision has unprecedented effect as it is the first time in the course of the process that the client has also called Columbia Investimentos e Participações, the underwriter of contracts with the company owned by Antônio Neto Ais and Fabrícia Farias.

The investor requested provisional provision for the blocking of BRL 100.4 thousand on the promoted accounts, the amount of its investment in Braiscompany. In addition, it also requested that the contract be terminated and that the defendants be sentenced for lost profits.

“On November 10, 2022, [investidor] entered into a cryptocurrency rental agreement with the promoted company, with security guaranteed by the defendant, Columbia Investimentos e Participações Ltda, in the amount of R$ 100,489.63 or B 1,05644000 bitcoins, with the rental payment date before the 10th of each month. However, despite the informed period, no lease transfer has taken place in the contractual manner to date. He claims that in order to amicably resolve the situation, he requested the promoted party to provide an expected payment date. However, it was communicated that there was no forecast for the payment,” said an extract from the action.

Financial pyramid

In its decision, the judge initially emphasized that Braiscompany has strong indications that it is a financial pyramid, something that was denied by businessmen Antônio Neto Ais and Fabrícia Farias, together with their brokers, managers and traders.

“In a preliminary picture of the achievement, it should be mentioned that there are strong indications that this is one more, among the several instances of financial pyramids harming unwary people and seeking easy profits,” said Queiroga.

“Through information from the media, the fact that the case of the defendant failed has already become public, as the Braiscompany company is involved in police scandals for possible practice of pichardismo, or, in the most common expression, of financial pyramid,” he added then further.

favorable decision

The decision also stated that the owners of Braiscompany were on the run. “It is also popular and the media knows that the managing partners are on the run, that is, in theory, an unlawful confiscation of assets took place, harming hundreds of consumers, many of whom are already in the judicial arena for their rights claim,” says Judicial Order.

Based on the presented scenario, the judge granted the investor’s request and ordered the blocking in SISBAJUD of the amounts referring to the investment, in this case R$ 100 thousand.

According to Queiroga, “since this is a likely financial blow, it makes no sense to designate a preliminary hearing for the reconciliation attempt”.

Columbia Investimentos joins the cause

This decision is the first involving Columbia Investimentos, the underwriter of some Braiscompany contracts. According to information collected by Paraíba Já, the insurance company received 1.1% of monthly income from insured contracts.

As mentioned earlier, the investor had Columbia insurance on the contract of BRL 100,000, but has not received any income since renting his crypto assets three months ago. Therefore, justice revealed that Columbia also failed to honor its insurance contract with the customer.

The Advertising Aqui website, the largest consumer complaint platform in the country, has several negative reports about Columbia. The most important messages are about the lack of payments and the return of contacts. In the most recent, everyone mentions the relationship with the unit-linked insurance contracts with the company of Antônio Neto Ais and Fabrícia Farias.

“I hired this company as a guarantor of a contract with Braiscompany. But I can’t get in touch and I don’t get an answer,” said one user. “I have a letter of guarantee referring to an investment with this company, I have been trying to contact them for days but I am not getting a response,” another commented.

“Unfortunately, for those who invested in Brais with insurance from Columbia Investimentos, the news is not good. Columbia, despite a social contract containing more than $1 billion in equity, has not paid this amount. This company does not have the financial strength to operate. The company does not even have an administrative headquarters. Those who try to achieve the same thing will find themselves left unanswered,” complained another user.