Cicero Saad Cruzformer leader of the cryptocurrency pyramid MinerWorldwas sentenced to one year in prison for illegal possession of a firearm. The decision was made by Judge Roberto Ferreira Filho, of the 1st Criminal Court of Campo Grande. The information comes from the website The alligator.
The conviction comes in the context of a broader investigation, in which Saad is accused of involvement in one of the largest cryptocurrency pyramid schemes in Brazil, in which around 50,000 investors defaulted.
The weapon, a 635 caliber Berretta pistol, was discovered in April 2018 during Operation Lucro Fácil, led by the Special Action Group to Combat Organized Crime (Gaeco).
Found in Cícero’s room in the home of his father, Raimundo Olegário Cruz, the weapon became a focal point in the case.
Blaming the dead father didn’t work
Initially, Cicero tried to attribute ownership of the weapon to his late father. However, in a statement to the civilian police, Raimundo, who was 78 years old at the time, stated that the gun belonged to his son, who had acquired it to protect himself from threats related to Minerworld.
This version contradicted Cicero’s later statement to the judge, in which he insisted that the weapon belonged to his father. Cícero’s mother, Mirna Saad Cruz, denied knowledge of the gun.
Although the situation seemed complicated for Cícero, judge Roberto Ferreira Filho recognized a mitigating factor in the sentence due to Cícero’s spontaneous confession. The one-year prison sentence is therefore converted into community service.
Meanwhile, Minerworld is facing legal action as investors default on R$48.8 million.
The company is awaiting the verdict in a case before the 2nd Court of Homogeneous Diffuse, Collective and Individual Rights, another criminal action is being carried out secretly, with no prospect of immediate conclusion.
Think about the matter
Minerworld was a company operating in Brazil that presented itself as specialized in Bitcoin mining. However, it became known as a financial pyramid scheme.
The company claimed to generate profits through cryptocurrency mining and offered investment plans with high returns. However, over time, investors began to experience difficulties in withdrawing their income and invested capital.
In 2018, Minerworld was the target of investigations by Brazilian authorities, including the Public Prosecutor’s Office and the Civil Police. These investigations revealed several irregularities and signs of fraud, leading to judicial intervention and the eventual conviction of key leaders.
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.
