The Brazilian SEC has launched an investigation into the Investimento Bitcoin Ponzi scheme.

Although they’ve yet to make a formal statement, the Brazilian SEC (CVM) has
confirmed to UOL
it is investigating Investimento Bitcoin for suspected fraud.

CVM (Securities and Exchange Commission) says in a report that it has found “evidence of fraud in third-party fundraising with typical financial pyramid characteristics” and suggested to the Public Prosecutor to investigate the company’s activities.

A
followup September 13th UOL report
details Conar’s recommendation to suspend Investimento Bitcoin advertising.

Conar
is a ‘
Brazilian non-governmental organization that self-regulates the advertising sector in the country
‘.

According to UOL’s report, Investimento Bitcoin advertising ran on Brazilian television and websites.

BehindMLM
reviewed Investimento Bitcoin
in July. Based on its business model, we concluded the company was a Ponzi scheme.

Based on heavy localized targeting, whoever is running Investimento Bitcoin is believed to be in Brazil or Brazilian living elsewhere.

🤖 Quick Answer

What is the Investimento Bitcoin investigation in Brazil?
The Brazilian Securities and Exchange Commission (CVM) launched an investigation into Investimento Bitcoin for suspected fraud. The CVM identified evidence of fraudulent third-party fundraising exhibiting pyramid scheme characteristics and referred the matter to the Public Prosecutor's office for further investigation into the company's operations.

What action did Conar take regarding Investimento Bitcoin?
Conar, Brazil's self-regulatory advertising organization, recommended suspending Investimento Bitcoin advertising campaigns. This recommendation followed the CVM's fraud findings and was reported in September by media outlet UOL, signaling regulatory concern about the company's promotional activities.

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