Clube de Investimento Monticano, led by Glaidson Acácio dos Santos, operated as an investment club primarily based in Cabo Frio, Rio de Janeiro. It attracted clients by promising exceptionally high returns, reportedly up to 10% per month, through investments in forex and cryptocurrency markets. The entity operated without the necessary authorization from Brazilian financial regulators, leading to formal investigations and a stop order from the CVM (Comissão de Valores Mobiliários), which deemed its activities an irregular public offering of investment contracts.

Founded in

Brazil