In a recent new decision involving the cryptocurrency pyramid MK Negócios (Sbaraini Administradora de Capital), Federal Supreme Court (STF) Minister Alexandre de Moraes handed another victory to injured investors.
By attracting investments from clients in 17 Brazilian states, the scheme generated more than 1 billion reais. To convince the victims, high profits from so-called cryptocurrency arbitrage offered the story of easy and quick profits.
It is worth emphasizing that the Cryptocurrency arbitrage is a common practice among investors, but in recent years, companies that emerged in this segment have only resorted to scams. One of the most infamous cases in Brazil is that of Atlas Quantum, which has moved billions of reais and continues without results.
In fact, since the PF launched Operation Ouranósthe company suspended its activities and more information came to the attention of investigators.
STF quashes decision that annulled evidence in case against Sbaraini
In a decision reviewed by the STF and obtained by the Livecoins this Wednesday (22) that is clear the Sbaraini company and its partners wanted to remove the evidence collected through the investigation from the trial.
“The defense points out illegality in starting the police investigation on the basis of an anonymous oral complaint, questioning the late moment at which such information entered the archives and postulating the nullity of the investigation procedures and the abolition of the precautionary measures have been imposed on the patients.”
When analyzing the case, a STJ minister acknowledged the pyramid defense’s request and rejected the evidence obtained in the investigation of the case.
However, The Attorney General’s Office appealed to the STF, which overturned the STJ’s decision. The Supreme Court’s ruling dates from December 2024.
Like this, Minister Alexandre de Moraes sent his decision be informed urgently to the Supreme Court and the Federal Regional Court of the 4th Region. Various fraud cases are heard in these federal courts.
CVM has already issued advice against a suspicious company
It is worth emphasizing the CVM has already issued an opinion stating that the pyramid was not authorized to operate in Brazil.

Wanted by the report, the Lawyer Hector Cardenas, of the firm Cardenas & Torres Advocacia, who files lawsuits representing affected clients, recalls that the CVM’s position already reveals a confirmed crime.
“For this reason, the CVM has prohibited the suspects from carrying out illegal investment activities. In other words, the contract, investment and service offered by the defendants was always irregular, which means that the amounts invested by the company must be terminated and refunded. In my opinion, this is one of the strongest arguments in civil law that allows contract termination and reimbursement of amounts. After all, the company was selling something it couldn’t do, misleading the investor.”
STF has a different concept than STJ, which benefited investors who were hurt by the cryptocurrency pyramid
In conversation with the LivecoinsThe lawyer also said that the STF’s new decision was positive for investors who have been harmed by the financial pyramid.
“The STF, in a decision by Minister Alexandre de Morais, withdrew the rulings in RHC (habeas corpus appeal) n 203.373/SC and HC (habeas corpus) n 943.710/SC, whereby the STJ had annulled the evidence arising from reports of the COAF, without judicial permission.
The STF, unlike the STJ, takes a firm position in that it is possible to obtain evidence arising from financial information reports (RIFs) sent by Coaf, without a court order.
Therefore, now that the appeal has been allowed, the evidence obtained regarding the RIFs remains valid to substantiate the criminal record of the case.”
In recent days, the lawyer also emphasized that he had obtained two favorable decisions against Sbaraini at second instance, which shows that justice has recognized the company’s fraud on the market.
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.