On November 8, Judge Antonio Claudio Macedo da Silva issued an injunction in Brazil, suspending the Ministry of Finance's investigation into BBOM. The judge stated the Ministry lacked jurisdiction, citing no evidence BBOM illegally captured savings or violated antitrust law. This ruling came just days after Judge Reynaldo Fonseca declared BBOM a pyramid scheme in open court.
BBOM's operation depends on payments from new recruits. These funds flow directly to existing members. The company claims to sell GPS tracker units to customers, but these devices reportedly only go to individuals invested in the scheme itself. Federal prosecutors in Goiás presented this evidence in court days before da Silva's ruling.
Judge da Silva acknowledged BBOM might engage in "wrong, or even improper practices." But he insisted his "non-exhaustive analysis" found no proof of illegal savings seizure. He wrote, "In my non-exhaustive analysis, I did not see a financial pyramid business model being operated by the company."
The Ministry of Finance has not commented on the injunction. It has not stated whether it plans to appeal the decision.
The case continues without the Ministry's involvement. Federal prosecutors in Goiás are pursuing a civil action to shut BBOM down. The company also faces criminal charges in São Paulo for embezzlement, crimes against the national financial system, and operating a financial institution without authorization.