Second, detention is highly recommended due to the weight of the evidence against Mr. Braga, which includes video of Mr. Braga making false statements about investing with Trade Coin Club (“TCC”) and TCC data demonstrating that there was no software and no trading.

Third, Mr. Braga is a Brazilian citizen who has a wealth of assets in Brazil, including at least two homes valued at around $1.3 million and a successful construction company.

Mr. Braga has little connection to this jurisdiction and has relatives in Brazil. Additionally, Brazil and the US do not have an extradition pact.

There doesn’t seem to be a condition or set of requirements that would fairly guarantee Mr. Braga’s attendance at future court proceedings, based on these findings and the justifications provided in the record.

Unfortunately, Brazilian MLM Ponzi scammers—such as Carlos Wanzeler, Luiz Capuci, Emerson Pires and Flavio Goncalves, Horst Jicha, and others—frequently escape, so it’s encouraging that the Washington court is taking Braga’s flight risk seriously.

Mr. Braga will be placed in the Attorney General’s custody and held in a correctional facility while he awaits trial.

In late 2016, the multilevel marketing cryptocurrency scam known as Trade Coin Club, or TCC, became live.

Trade Coin Club collapsed in early 2018 after launching a “TCoin” exit fraud in late 2017.

Braga, a Brazilian citizen, lived in Florida when TCC was in operation. Braga is said to have gone to Brazil when TCC failed.

On February 8, Braga was detained while traveling through Switzerland. He was extradited to the US right away, and on February 21st, he appeared in court for the first time.