.

The Federal Court sentenced businessman Francisley Valdevino da Silva, known as the “Bitcoin Sheik”. He must serve 56 years, 4 months and 10 days in prison for involvement in cryptocurrency fraud.

The decision came out on Wednesday (9), in the 23rd Federal Court of Curitiba, where he lived.

Bitcoin Sheikh Sentenced to Prison

The sentence also convicted five other people. They received sentences ranging from 11 to 48 years in prison. They are lesser because, according to the Federal Police (PF), the Sheik of Bitcoins was the commander of the scheme.