Trade Coin Club founder Douver Braga has been denied release pending trial.

In explaining why Braga was denied release in its February 28th order, the court wrote;

Mr. [Braga] poses a risk of nonappearance for several reasons.

First, the underlying charges involve serious allegations of a $290 million Ponzi fraud scheme, as outlined in the multi-count indictment. And, the government proffers much of the proceeds from the alleged scheme have not been recovered and therefore available to Mr. Braga.

Second, the weight of the evidence against Mr. Braga, which includes video of Mr. Braga making representations about investing with Trade Coin Club (“TCC”) and TCC data showing there was no software and no trading, strongly favors detention.

Third, Mr. Braga is a citizen of Brazil, with vast resources in Brazil including a lucrative construction business and at least two residences worth approximately $1.3 million.

Mr. Braga has family in Brazil and has limited ties to this jurisdiction. Brazil also does not have an extradition treaty with the United States.

Based on these findings, and for the reasons stated on the record, there does not appear to be any condition or combination of conditions that will reasonably assure Mr. Braga’s appearance at future court hearings.

Brazilian MLM Ponzi scammers fleeing is unfortunately a common occurrence (
Carlos Wanzeler
,
Luiz Capuci
,
Emerson Pires and Flavio Goncalves
,
Horst Jicha
etc.), so it’s good to see the Washington court take Braga as a flight risk seriously.

Mr. Braga shall be detained pending trial, and committed to the custody of the Attorney General for confinement in a correction facility.

Trade Coin Club
, or TCC, was an MLM crypto Ponzi that launched in late 2016.

Following initiation of a “TCoin” exit-scam in late 2017, Trade Coin Club went on to collapse in early 2018.

While TCC was active Braga, a Brazilian national, resided in Florida. After TCC collapsed Braga is believed to have fled to Brazil.

Braga was arrested whilst travelling through Switzerland on February 8th. He was promptly
extradited to the US
and made his first US court appearance on February 21st.

Stay tuned for updates as BehindMLM continues to track Braga’s TCC criminal case.

Update 23rd April 2025 – 
Douver Braga’s TCC criminal trial has been scheduled for February 9th, 2026.

🤖 Quick Answer

Who is Douver Braga and what are the charges against him?
Douver Braga is the founder of Trade Coin Club, a cryptocurrency investment platform. He faces serious allegations of operating a $290 million Ponzi fraud scheme, involving false representations about investing opportunities and non-existent software and trading operations, as detailed in a multi-count federal indictment.

Why was Douver Braga denied release pending trial?
The court denied Braga's release citing three primary factors: significant risk of nonappearance due to serious fraud charges, substantial unrecovered proceeds available to him, strong evidence including video representations and data proving no actual trading software existed, and his Brazilian citizenship with international connections.

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