At the last sunday (22), the program Fantástico revealed a scheme of pyramid which is being investigated by the Public Ministry (MP), for the Securities Commission (CVM) and also by Federal Police in Cabo Frio, in Rio de Janeiro.
The city earned the nickname of “New Egypt” by the number of pyramid schemes that emerged at the site.
The main target of investigations is Glaidson Acácio dos Santos, owner of GAS Bitcoin Consulting, company with the largest number of investors in the city. The consultancy is also the one that more have complaints at CVM, at the MP and on Federal Police.
GAS Consultoria is accused by the public ministry to practice a financial pyramid scheme in bitcoin. In a statement, the company stated that it is cooperating with the authorities.
Bitcoin: Bubble and Pyramid Scheme
Here in the Your money we’ve already talked about the myths and truths involving bitcoin and others cryptocurrencies. We have prepared a 1 minute video with six tips for you not to fall into scams involving this type of investment. Check out:
Also check below a summary of what it is and how to prevent these scams:
The financial pyramid works as follows:
“The new people who join serve to remunerate those who are already in the business. At some point, when they stop coming in and giving money, the value dries up and you lose what is invested”
explains Marcel Andrade, Head of Variable Income at Vitreo
He claims that there are people who want to “right time to enter” a pyramid. That way, when the business collapses, the return is guaranteed. “Want to speculate? It enters the stock exchange that, at least, there are bodies that regulate the activities”, he comments.
To prevent this type of scam, pay attention to the companies’ registration. To offer financial services, they need to have certificates issued by CVM, Bovespa and Central Bank.
But cryptocurrencies still lack regulation in Brazil, which paves the way for malicious intermediaries. The tip is to invest in known brokers and avoid promises of astronomical gains. The CVM itself does not guarantee return on variable income.
It is an unusual valuation of an asset. That’s what happened in 2008, with the housing bubble in the United States. It is worth noting that this price increase happens without any foundation and, when the bubble bursts, it can leave many people without money.