United States v. Douver Braga

This case involves a cryptocurrency investment fraud scheme called Trade Coin Club or “TCC.”  TCC was operated by Douver Braga and others.  TCC solicited investors to deposit bitcoin, promising that the bitcoin would be invested via a high-tech trading software program.  TCC obtained over $300 million from over 100,000 victims in the United States and overseas.  TCC did not conduct any trading but rather was a Ponzi scheme that used new investor funds to pay off old investors.  The scheme ultimately collapsed, and Braga stole over $50 million worth of bitcoin deposited by investors.