Cryptocurrency pyramid, MSK is triggered by the Ministry of Justice

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The MSK Invest cryptocurrency pyramid was triggered by the Ministry of Justice in Brazil, which acted through the National Consumer Secretariat (Senacon). After promises of fixed income per month, the São Paulo company left customers without support.

The document that initiated the administrative inquiry ended up signed by the secretary Laura Postal Tirelli. In July 2022, for example, she sued TikTok in Brazil, in an investigation process against misleading advertisements on the social network.

Everything indicates that MSK will now remain better investigated for its performance with investors in Brazil.

Ministry of Justice sues MSK Invest for practices of financial pyramid

The National Consumer Secretariat has filed an administrative proceeding against Msk Gestão de Recursos Ltda, Glaidson Tadeu Rosa, Carlos Eduardo de Lucas, Cesar Tofano and Daniel Felipe Rodrigues Sabino.

Everyone must answer for the creation of a “

fraudulent scheme that aims to raise funds from third parties using false promises of profitability that would supposedly be applied in the financial market“.

According to information obtained by Livecoins, MSK would have infringed at least 5 articles of the Consumer Protection Code.

Thus, with the instaur action of the administrative process by the Department of Consumer Protection and Defense, linked to the Ministry of Justice, the company and its partners must present their defenses in a maximum of 20 days.

The executive Laura Postal also determined that all MSK operations be suspended within 48 hours, under penalty of a daily fine of 10 thousand reais.

“In addition, I decree a precautionary measure, to determine that the represented and its partners suspend, within 48 hours, the provision of their brokerage services (broker), advice, negotiation and intermediation in cryptocurrency businesses, as well as its activities, with the removal of the air from its platforms, under penalty of a daily fine of BRL 10.200, (ten thousand reais).”

Livecoins could not find those responsible for the company to comment on the new measure. Thus, the space remains open for manifestations.

CVM will receive information about the MSK case

MSK Invest ended its operations in recent months after not Fulfill promises made to customers. Many lawsuits continue in court, mainly in São Paulo, against the possible financial pyramid.

However, it is worth remembering that the company is the first cryptocurrency pyramid triggered by Senacon, which shows willingness to end the problem.

In any case, the Securities and Exchange Commission (CVM) will receive information about the case. It is not yet clear if the autarchy files a lawsuit against MSK Invest, but it may start its own investigation as well.

The Public Ministry of São Paulo will be summoned to reveal information about the case. This suspicious company filed for bankruptcy after stopping customer withdrawals, leaving a trail of multimillion-dollar losses.

In August 2022, the Civil Police of São Paulo complied with warrants against MSK Invest.