Crypto pyramid leader who had Cafu as poster boy pleads guilty in US

Several Brazilians who took part in the Airbit Club scam, a cryptocurrency pyramid operating in several countries, pleaded guilty. Among them, chief leader Gutemberg dos Santos, who was arrested in the US, confessed to his fraudulent practices.

The case published last Wednesday (8) by the US court finally puts an end to one of the frauds that was active even in Brazil. In the country, the pyramid used the image of former five-time champion Cafu to attract new investors and pass on credibility.

In addition to Gutemberg, leaders and operators Pablo Renato Rodriguez, Scott Hughes, Cecilia Millan, Karina Chairez and Jackie Aguilar also pleaded guilty. The list of leaders who took responsibility for the crimes was released by lawyer Damian Williams from New York, in the US.

Cafu was an ambassador for ArbCrypto.  reproduction
Cafu was an ambassador for ArbCrypto. reproduction

Brazilian Airbit Club leader confesses to pyramid crimes involving cryptocurrencies in the US

Brazilian accused of fraud with cryptocurrencies is arrested in the US and faces 30 years in prison
Brazilian businessman Gutemberg dos Santos, founder of AirBit Club. Photo: Playback/Wikipedia

By acting in the market as a cryptocurrency miner and broker, promising high returns to investors, Airbit Club reached customers from different countries.

Prior to this, the involvement of several scheme leaders was essential for new people to put money into the business. When investing in the fraudulent scheme with the promise of high returns, many did not realize that they were dealing with a financial pyramid.

After receiving values, Airbit Club leaders laundered the money and flaunted a luxurious life on social networks. According to the US Justice Department, the scheme began in 2015 and lasted at least until 2019. However, since 2016, some customers have not been able to withdraw money easily, in the scheme that depended on the entry of new investors.

When confessing to crimes, top leaders risk several years in prison and must pay fines for market fraud.

“The leaders pleaded guilty to charges including conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison; money laundering conspiracy, which carries a maximum term of imprisonment of 20 years; and conspiracy to commit bank fraud, which carry a maximum prison sentence of 30 years.”

Victims can send information to US authorities via e-mail, in Brazil the Advertising Aqui page collects desperate messages

If a victim wishes to cooperate with the Airbit Club investigation, US authorities will receive information via email “[email protected]”.

The US authorities’ investigation was aided by authorities in Panama, a country that also has victims of the scheme.

It draws attention to the case involving attorney Scott Hughes, who helped Airbit Club and another pyramid, Vizinova, resolve a dispute with the SEC.

The law firm helped criminals launder money from the scheme and even removed negative information about companies from websites. Now he also responds to complicity in the crime.

In the future, the Airbit Club case could help authorities around the world tackle pyramids operating in different countries. In Brazil, it is worth remembering that many who have invested with the company are filing lawsuits and using the Airbit Club page on Advertising Aqui to report details of the fraud they have suffered.

Source: Live Coins