Francisley Valdevino da Silva, better known as Brazil’s sheikh of bitcoins, had a petition for habeas corpus rejected by the Superior Court of Justice (STJ). The decree was signed by Minister Laurita Vaz, who took care of the analysis of the request of the defense of the accused.
Regarded as yet another pyramid leader with the image of cryptocurrencies, Francisley looked after the operations of the InterAg Group.
He is one of the targets of Operation Poyas, launched by the federal police in 2022, against the plan that promised big profits related to the cryptocurrency market.
Rental Coins is one of the companies under his control that gained notoriety among investors, but there were other companies, including in the US.
Sheikh of Bitcoin Remains in Jail After STJ Denies Freedom Request
In the lawsuit pending in the STJ consulted by Livecoins, the Sheikh of bitcoins’ defense claims there is no justification for his arrest. So, since he is a first offender, with a good record and physical residence, his lawyers asked for his freedom, with the issuance of a release permit.
However, in the analysis of the Minister of the Superior Court of Justice, it became clear that the “good track record” does not negate the suspicions placed on the investigation.
The minister realized when analyzing the case that Francisley had already failed to comply with legal measures in the recent past. Ordered to stop creating companies, possible financial pyramids, he continued to coordinate the companies, even from his home.
Meetings with leaders, contact with witnesses and other non-compliance measures in the Operation Poyas investigation eventually motivated authorities to request his arrest. It is worth remembering that he has been in prison since early November 2022.
In the final decision, the minister says she understands that keeping the suspect in custody is an important measure to contain the actions of her criminal organization. Moreover, she ruled that even with the defendant in favorable personal circumstances, not all elements weighing against his possible criminal behavior can be excluded.
Bitcoin Sheik and the Confusing “Crypto Asset Lease”
Many cryptocurrency investors do not know how to make money from their coins after hearing reports of huge profits associated with this market.
Thus, many companies have sprung up in recent years asking beginners to deposit their coins on the platforms to monetize the amounts for customers. Many proposals have emerged in this regard, such as “trading robots”, “cryptocurrency arbitrage” among others.
Over time, most companies turned out to be bad and dangerous, with financial pyramid schemes passing for solid companies. The new fashion, with the end of Rental Coins and even the recent collapse of Braiscompany in Paraíba, shows that “crypto-asset leasing” is the new plan to attract unwary investors.
All scams in the cryptocurrency market are scamming customers’ digital currencies with income offers. From June 2023, those who create scams may face tougher penalties, with the arrival of the new law regulating cryptocurrencies in Brazil.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
