Investment robots: gang is target of PF operation – 05/17/2023 – Market

A gang that uses robots to carry out investment operations was the target of an operation carried out this Wednesday morning (17) by the Federal Police in the interior of São Paulo.

Two search and seizure warrants are being served in Paulínia (SP) and one in Campinas (SP). Agents seized a Ferrari and other luxury cars, cash, credit cards and checks.

According to the Federal Police, the investigation began in February this year, after a complaint, and discovered a profile on social networks that offers automated investment systems known as investment robots.

“Such robots would be integrated into a foreign brokerage platform, automatically carrying out financial operations with binary options, a high-risk investment modality not regulated by the CVM (Securities and Exchange Commission). The use and commercialization of these robots are regulated by the CVM, which does not occur in relation to the investigated profile”, explained the PF.

Those suspected of involvement also offered an exchange platform for operations to be carried out at foreign brokerages.

The people investigated adopted the practice of frequently changing addresses to avoid suspicion and used their assets, mainly luxury cars, registered in third-party names to attract customers with the promise of quick earnings and high sums.

The PF did not disclose the number of victims of the gang or the value moved by the gang. Those involved may be liable for crimes against the capital market and the financial system. The combined penalty can reach 12 years in prison.