Brazillian police have arrested ten people suspected of operating a cryptocurrency pyramid scheme worth 850 million reals ($210 million), local news media outlets including Correido Do Povo reported on May 21.
As part of Operation Egypto, a swoop dedicated to unearthing unsanctioned financial schemes, Brazil’s tax agency joined police in orchestrating a crackdown on the figures behind Indeal, who they say amassed funds from 55,000 investors.
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