Marcel Mafra Bicalho

Marcel Mafra Bicalho: Billion-Dollar Scheme Leader Acquitted of Bitcoin Debt Amid Evidence Gaps

Judicial Decision Favors Compre Bitcoin Founder

Marcel Mafra Bicalho, once the face of a billion-real financial pyramid scheme exposed nationally by the Brazilian program Fantástico, has avoided the freezing of his assets in a lawsuit brought by three of his former clients. In a ruling published on Monday, the court found that the plaintiffs lacked sufficient evidence to prove they had made any investments in Bicalho’s controversial company, Compre Bitcoin.

The businessman, who gained notoriety after his 2019 arrest at a luxury resort in Bahia, had been accused of orchestrating a massive fraud operation that promised profits of up to 512% through alleged Bitcoin investments. According to media reports and legal filings, over 5,000 people may have been affected by the scheme, which reportedly moved over R$1 billion before collapsing.

Allegations and Legal Action

The current lawsuit centers around three investors from Altinópolis, São Paulo, who claim to have deposited R$37,556.58 into Compre Bitcoin with the expectation of outsized returns. They allege they never received any profits or even a return of their principal, prompting them to seek the urgent freezing of assets belonging to Bicalho and two co-defendants: Deusiane de Sousa Paula and the now-defunct company D de Sousa Paula – ME, formerly Compre Bitcoin.

Despite these claims, the court dismissed the plaintiffs’ requests for urgent relief, stating they failed to present even basic documentation—such as proof of deposit, terms of investment, or evidence of non-withdrawal. The decision underscores that without tangible proof of the investment relationship, the court cannot validate the accusations or enforce asset seizure.

Lack of Documentation Proves Decisive

The ruling emphasized that no documents were submitted to clarify the terms of the alleged investment, withdrawal policies, or any communication that might substantiate the plaintiffs’ version of events. “They did not attach any document, however simple, that detailed the investment rules, the withdrawal deadline, or the method for doing so, and there is also no way, at this time, to prove that they never withdrew any amount, as they reported,” noted the court.

This marks the second time that a request to freeze Bicalho’s assets has been denied in this case. An appeal filed by the plaintiffs was also rejected, once again on the grounds of insufficient evidence.

The Bigger Picture: A Pyramid Disguised as Bitcoin Investment

Though acquitted in this particular matter, Bicalho’s reputation remains under a dark cloud. In 2019, Fantástico broadcast a lengthy exposé that portrayed him as the mastermind behind a sprawling pyramid scheme masked as a high-yield cryptocurrency venture. The program reported that Compre Bitcoin lured thousands of investors with promises of extraordinary profits—returns that were ultimately unsustainable.

The authorities arrested Bicalho amid growing complaints and allegations. However, the current case illustrates a recurring challenge for victims of crypto fraud: the difficulty of securing legal redress in the absence of concrete, traceable documentation—especially when much of the business is conducted in cash or informal terms.

Conclusion: Legal Loopholes and Investor Caution

The dismissal of this lawsuit underscores a critical point in the battle against cryptocurrency fraud: even compelling narratives and national media coverage cannot substitute for solid, admissible evidence in court. For now, Marcel Mafra Bicalho has avoided further legal consequences related to these three plaintiffs, though the broader scandal around Compre Bitcoin continues to unfold. Investors and legal observers alike will be watching closely to see whether more substantial cases emerge from the thousands of individuals who claim to have been deceived.