A recent hearing investigated allegations of money laundering and crimes against the financial system, company partners said G44 Brazil Their passports were blocked by court order.
The case involves the company accused of operating a financial pyramid scheme involving cryptocurrencies, affecting thousands of investors across the country.
During the hearing, which was attended by partners from G44 Brazil, there were moments of tension when the suspect refused to answer questions from Jorge Calazanslawyer and prosecution assistant appointed by the Public Prosecution Service.
Calazans, who represent more than 400 G44 victims, stressed the seriousness of the allegations and the need for strong legal action.
The members of G44 Brazil have had their passports blocked
The lawyer asked the judge for preventive detention of the suspect, citing the risk of escape and the importance of justice for the hundreds of victims affected.
Although the request for preventive detention was not granted, the judge authorized the blocking of the defendants’ passports, a measure aimed at guaranteeing their presence in Brazil during the proceedings.
Recently, G44 Brazil filed a request for judicial recovery, submitting a payment plan requesting a three-year grace period, and a twelve-year period to pay creditors. In view of the appeals submitted, the request is suspended.
Think about the matter
G44 Brasil, a company in the Federal District, is accused of being a financial pyramid that offered returns on investments in cryptocurrencies and gemstones. Without paying customers since November 2019, the company has already presented numerous plans to pay off its debts to investors, but has not honored any of these plans.
The company’s partners, Saleem Ahmed Zaeer and Joselita de Brito Escobar, were indicted by the Federal Court of Brasilia for crimes against the national financial system after being convicted by the CVM.
The G44 collapsed in late 2021, according to a statement emailed to customers “technical instability, operational problems, cyber attacks and fake news published by the media” would have caused the company to decide to cease operations.
The company turned around target of Federal Public Prosecution Service for practicing a financial pyramid. The Securities and Exchange Commission (CVM) has also issued a warning irregular performance of G44 Brazil, the municipality found indications that it irregularly attracted customers in the country.
Finally, G44 Brazil also attracted attention MPDFT and from DF Civil Police (Corf). The company operated from 2017 to 2019, offering investments in Bitcoin and also controlling the stock exchange INOEXwhich has already sponsored cryptocurrency events across 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.
