© Reuters. Electoral Court Vetoes Candidacy of the ‘Pharaoh of Bitcoins’ for Deputy in Brazil
- Glaidson Acácio dos Santos, a former waiter from Rio, will not be able to stand as a candidate for federal deputy in the elections on October 2.
- The “bitcoin pharaoh” is accused of defrauding hundreds of people through a Ponzi scheme executed through his company.
- The judge argued that the applicant contravened the constitutional canons of morals and ethics.
The Electoral Court of Rio (TRE-RJ) blocked the candidacy of the so-called “bitcoin pharaoh”, Glaidson Acácio dos Santos. Unanimously, the electoral body issued its decision on Monday arguing that the applicant did not meet the legal requirements to apply.
Acácio dos Santos is serving preventive detention in Rio de Janeiro accused of allegedly being involved in a cryptocurrency pyramid scheme. The judges who heard the case decided that Glaidson should be disqualified, because he appears as a main partner in companies denounced for committing financial crimes provided for in the penal code.
However, the aspiring federal deputy can appeal the decision and file an appeal before the Superior Electoral Court (TSE) of Brazil. The pyramid scheme in which Glaidson dos Santos appears to be involved was aired in the country’s courts in August last year.
The case is part of Operation Kryptos in which the Federal Police dismantled a gang dedicated to carrying out fraudulent operations with cryptocurrencies and…
