After his arrest, a crowd gathered outside broadcaster TV Globo in Rio de Janeiro to protest coverage of the alleged racket.
In October, scores of supporters blocked the street outside a federal courthouse in Rio, demanding his freedom.
The true tally is likely much higher, said Luciano Regis, a lawyer representing dozens of victims. He said one of his clients enlisted her husband, mother, brother, sister-in-law and an 82-year-old aunt, investing a total 822,000 reais (about $150,000).
Do Carmo invested 40,000 reais ($7,000) - just over half the money left in his retirement fund. Then his therapist told him he sold his house to invest in G.A.S., and had been receiving 10% monthly returns for a year.
(AP Photo/Bruna Prado)" class="blkBorder img-share" style="max-width:100%" />
Lawyer Luciano Regis, 35, during an interview in Sao Pedro da Aldeia, Brazil, Wednesday, Dec.
15, 2021. Regis, a lawyer representing victims of G.A.S Consulting & Technology, a cryptocurrency investment firm founded by a former waiter-turned-multimillionaire who has become the central figure in what is alleged to be one of Brazil's biggest-ever pyramid schemes.
(AP Photo/Bruna Prado)
Regis, a lawyer representing victims of G.A.S Consulting & Technology, a cryptocurrency investment firm founded by a former waiter-turned-multimillionaire who has become the central figure in what is alleged to be one of Brazil's biggest-ever pyramid schemes.
Beachgoers congregate on Fort Beach in Cabo Frio, Brazil, Wednesday, Dec.
15, 2021.
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In October, scores of supporters blocked the street outside a federal courthouse in Rio, demanding his freedom.
The true tally is likely much higher, said Luciano Regis, a lawyer representing dozens of victims. He said one of his clients enlisted her husband, mother, brother, sister-in-law and an 82-year-old aunt, investing a total 822,000 reais (about $150,000).
Do Carmo invested 40,000 reais ($7,000) - just over half the money left in his retirement fund. Then his therapist told him he sold his house to invest in G.A.S., and had been receiving 10% monthly returns for a year.
(AP Photo/Bruna Prado)" class="blkBorder img-share" style="max-width:100%" />
Lawyer Luciano Regis, 35, during an interview in Sao Pedro da Aldeia, Brazil, Wednesday, Dec.
15, 2021. Regis, a lawyer representing victims of G.A.S Consulting & Technology, a cryptocurrency investment firm founded by a former waiter-turned-multimillionaire who has become the central figure in what is alleged to be one of Brazil's biggest-ever pyramid schemes.
(AP Photo/Bruna Prado)
Regis, a lawyer representing victims of G.A.S Consulting & Technology, a cryptocurrency investment firm founded by a former waiter-turned-multimillionaire who has become the central figure in what is alleged to be one of Brazil's biggest-ever pyramid schemes.
Beachgoers congregate on Fort Beach in Cabo Frio, Brazil, Wednesday, Dec.
15, 2021.