An executive at a crypto investment company had an arrest warrant issued against him for charges of crypto scam. The man appealed against his arrest warrant. The leading judge concluded that the alleged person had a significant role to play in the company, and hence, his appeal was rejected.
Police arrest people involved in Brazilian crypto scam
Chief Legal Officer of Unick Forex, Fernando Lusvarghi, was one of the 64 people that had arrest warrants issued against them earlier this month. Authorities arrested various individuals in the “Operation Lamanai.” The authorities also seized high-value luxury items as well as 1,500 Bitcoins. Lusvughi, however, managed to evade the operations and remains at large.
Unick Forex: The Brazilian crypto scam
Unick Forex attracted customers by promising profits of 2 percent per day. The company claimed that it would provide these profits by trading various digital assets and forex markets. The company also used a referral scheme that would give bonuses to older members if they bought in new investors. According to a report, the company had managed to raise 603 million US dollars.
Lusvarghi has been fighting the arrest warrant for over a week and has already filed a habeas corpus. He claims that he is willing to appear for authorities, given that his arrest warrant is revoked.
The authorities started investigating Unick Forex in January this year. The platform attracted users by promising a 100 percent return on investment in just six months. The company used local celebrities to promote investments.
Brazil’s authorities made several attempts to stop the company’s operations. In April Brazilian securities commission, CVM filed a complaint against Unick Forex. Subsequently, a stop order was issued that the company ignored. This led to the recent police operation
