Fact-check findings

The reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.

1. #3[disputed][awaiting moderator]in section: Background and Roles

   “according to the SEC's May 2022 civil complaint, co-founded MCC International Corp.”

   reviewerPires co-founded MCC according to 'the SEC's May 2022 civil complaint.'The complaint itself (which I fetched and read directly) was filed April 7, 2022, not in May. This is the same underlying date error as the 'filed April 22, 2022' claim below and the timeline entry for the complaint filing.
   Proposed correction (not yet applied)

   according to the SEC's April 2022 civil complaint, co-founded MCC International Corp.
   citedwww.sec.gov/news/press-release/2022-81
2. #4[disputed][awaiting moderator]in section: MCC International / Mining Capital Coin Fraud Scheme

   “The SEC's complaint, filed April 22, 2022, in the U.S. District Court for the Southern District of Florida”

   reviewerThe SEC's complaint was filed April 22, 2022, in the U.S. District Court for the Southern District of Florida.Confirmed error by reading the actual filed complaint. The correct filing date is April 7, 2022.
   Proposed correction (not yet applied)

   The SEC's complaint, filed April 7, 2022, in the U.S. District Court for the Southern District of Florida
   citedwww.sec.gov/files/litigation/complaints/…mp-pr2022-81.pdf
3. #5[disputed][awaiting moderator]in the timeline

   “2022-04-22”

   reviewerSEC files civil fraud complaint against MCC International Corp., Pires, Capuci, CPTLCoin Corp., and Bitchain Exchanges on April 22, 2022.Same underlying error as the two findings above; all three should be corrected together.
   Proposed correction (not yet applied)

   2022-04-07
   citedwww.sec.gov/news/press-release/2022-81
4. #20[disputed][awaiting moderator]in the timeline

   “2022-07”

   reviewerSEC press release 2022-119 formally announced charges against Empires Consulting Corp., Pires, Goncalves, and Nicholas in July 2022.This timeline entry appears to be a near-duplicate of the June 30, 2022 entry but carries an incorrect month.
   Proposed correction (not yet applied)

   2022-06-30
   citedsec.gov/news/press-release/2022-119

No source the reviewer could reach confirms or contradicts the claim.

1. #21[unverifiable][awaiting moderator]in the timeline

   “DOJ files notice transferring Pires and Goncalves to fugitive status in the EmpiresX criminal case after they flee to Brazil.”

   reviewerDOJ files notice transferring Pires and Goncalves to fugitive status in the EmpiresX criminal case in July 2022.Source article date is consistent with the claim, but I could not independently verify the underlying court filing itself.
   citedcomplianceconcourse.willkie.com/articles…minal-and-civil/

The cited evidence supports part of the claim but not all of it.

1. #18[partially supported][awaiting moderator]in section: Flight to Brazil and Brazilian Proceedings

   “Pires invoked Fifth Amendment rights when questioned about MCC's trading operations during SEC testimony and subsequently fled to Brazil around early 2022 following the SEC civil action”

   reviewerPires invoked Fifth Amendment rights during SEC testimony and fled to Brazil around early 2022 following the SEC civil action; Brazilian law prohibits extradition of its citizens.Secondary sources support the page's framing, but it is in tension with the SEC complaint's own statement that Pires relocated to Brazil around November 2020. Not clearly disputed, but the causal 'fled ... following the SEC civil action' framing oversimplifies a more ambiguous timeline.
   citedbehindmlm.com/companies/sec-sues-mining-…i-emerson-pires/protos.com/crypto-mining-boss-faces-45-y…-pyramid-scheme/

The cited evidence supports the claim as written.

1. #1[confirmed][no action needed]in section: Background and Roles

   “Pires served as a co-founder and co-operator of the enterprise, which was incorporated and marketed primarily to investors in the United States and internationally from at least January 2018.”

   reviewerPires co-founded MCC International Corp. (dba Mining Capital Coin) with Luiz Carlos Capuci Jr.Directly confirmed by the original SEC complaint (read in full).
   citedwww.sec.gov/news/press-release/2022-81
2. #2[confirmed][no action needed]in section: Background and Roles

   “beginning around late 2020, Pires co-founded Empires Consulting Corp. (doing business as EmpiresX), a second cryptocurrency investment platform, with Flavio Mendes Goncalves”

   reviewerBeginning around late 2020, Pires co-founded EmpiresX (Empires Consulting Corp.) with Flavio Mendes Goncalves.Confirmed against CFTC Release 9045-25, which places the start of solicitation around September 2020.
   citedsec.gov/news/press-release/2022-119www.cftc.gov/PressRoom/PressReleases/9045-25
3. #6[confirmed][no action needed]in section: MCC International / Mining Capital Coin Fraud Scheme

   “to approximately 65,535 investors worldwide”

   reviewerMCC allegedly sold mining packages to approximately 65,535 investors worldwide.Exact figure matches the complaint.
   citedwww.sec.gov/news/press-release/2022-81www.sec.gov/files/litigation/complaints/…mp-pr2022-81.pdf
4. #7[confirmed][no action needed]in section: MCC International / Mining Capital Coin Fraud Scheme

   “The complaint alleges Pires and Capuci collectively netted at least $8.1 million from mining package sales and $3.2 million from initiation fees, with Pires personally spending approximately $10.9 million in alleged misappropriated investor funds on real estate, a Mercedes, a Harley Davidson, a Land Rover, and a Lamborghini.”

   reviewerPires and Capuci collectively netted at least $8.1 million from mining package sales and $3.2 million from initiation fees, and Pires personally spent approximately $10.9 million in misappropriated investor funds on real estate, a Mercedes, a Harley Davidson, a Land Rover, and a Lamborghini.Verified word-for-word against the complaint text I read directly. A precise and well-sourced claim.
   citedwww.sec.gov/files/litigation/complaints/…mp-pr2022-81.pdf
5. #8[confirmed][no action needed]in section: MCC International / Mining Capital Coin Fraud Scheme

   “The SEC stated that 'Capuci and Pires took every opportunity to extract more money from unsuspecting investors on false promises of outlandish returns and used investor funds raised from this fraudulent scheme to fund a lavish lifestyle, including purchasing Lamborghinis, yachts, and real estate.'”

   reviewerSEC attributed quote: 'Capuci and Pires took every opportunity to extract more money from unsuspecting investors on false promises of outlandish returns and used investor funds raised from this fraudulent scheme to fund a lavish lifestyle, including purchasing Lamborghinis, yachts, and real estate.'Direct quote verified against the SEC press release.
   citedwww.sec.gov/news/press-release/2022-81
6. #9[confirmed][no action needed]in section: MCC International / Mining Capital Coin Fraud Scheme

   “Related entities CPTLCoin Corp. and Bitchain Exchanges, controlled by Capuci, are named as co-defendants.”

   reviewerRelated entities CPTLCoin Corp. and Bitchain Exchanges, controlled by Capuci, are named as co-defendants.Confirmed.
   citedwww.sec.gov/files/litigation/complaints/…mp-pr2022-81.pdf
7. #10[confirmed][no action needed]in section: SEC Default Judgment (August 2025)

   “On August 26, 2025, Judge K. Michael Moore of the U.S. District Court for the Southern District of Florida entered a default judgment against Emerson Sousa Pires and Luiz Carlos Capuci Jr. in the amount of approximately $46.2 million in aggregate”

   reviewerJudge K. Michael Moore entered a ~$46.2 million default judgment against Pires and Capuci on August 26, 2025.Amount and date corroborated by multiple independent outlets.
   citednews.bloomberglaw.com/litigation/crypto-…lion-in-sec-suitwww.law360.com/articles/2381552/sec-nets…rypto-fraud-case
8. #11[confirmed][no action needed]in section: SEC Default Judgment (August 2025)

   “The court had previously frozen the defendants' assets — including funds, luxury vehicles, and boats — pursuant to a temporary restraining order issued April 21, 2022.”

   reviewerThe court previously froze defendants' assets via a TRO issued April 21, 2022, and a magistrate had earlier recommended approximately $28 million in disgorgement.Confirmed.
   citednews.bloomberglaw.com/business-and-pract…-magistrate-says
9. #12[confirmed][no action needed]in section: EmpiresX Fraud Scheme

   “which allegedly raised at least $40 to $41.6 million from more than 12,500 investors”

   reviewerEmpiresX allegedly raised $40 to $41.6 million from more than 12,500 investors.Both figures confirmed directly against the two original regulatory complaints.
   citedsec.gov/news/press-release/2022-119www.cftc.gov/PressRoom/PressReleases/8551-22
10. #13[confirmed][no action needed]in section: EmpiresX Fraud Scheme

    “By November 2021, the defendants had allegedly stopped honoring investor withdrawal requests.”

    reviewerBy November 2021, EmpiresX had allegedly stopped honoring investor withdrawal requests, and funds were allegedly laundered through a foreign-based cryptocurrency exchange.Confirmed.
    citedwww.cftc.gov/PressRoom/PressReleases/8551-22
11. #14[confirmed][no action needed]in section: Criminal Indictment (EmpiresX)

    “The indictment charges all three defendants with one count of conspiracy to commit wire fraud and one count of conspiracy to commit securities fraud in connection with the EmpiresX scheme, which allegedly generated approximately $100 million in investor losses. The indictment additionally charges Pires and Goncalves with conspiracy to commit international money laundering. If convicted on all counts, Pires faces up to 45 years in prison.”

    reviewerOn June 30, 2022, a federal grand jury indicted Emerson Pires (33), Flavio Goncalves (33), and Joshua David Nicholas (28, of Stuart, Florida) on conspiracy to commit wire fraud and securities fraud, with Pires and Goncalves also facing conspiracy to commit international money laundering; if convicted on all counts Pires faces up to 45 years.All particulars confirmed against a live, credible government source.
    citedwww.justice.gov/usao-sdfl/pr/three-men-c…tocurrency-fraudwww.ice.gov/news/releases/hsi-efforts-co…ndividuals-cases
12. #15[confirmed][no action needed]in section: Criminal Indictment (EmpiresX)

    “while Nicholas pleaded guilty separately”

    reviewerNicholas pleaded guilty separately; Pires and Goncalves remained at large in Brazil as of available reporting through 2025.Confirmed; the page omits the sentencing outcome (51 months) but does not misstate anything.
    citedwww.acfe.com/acfe-insights-blog/blog-det…ion-ponzi-scheme
13. #16[confirmed][no action needed]in section: Criminal Indictment (EmpiresX)

    “available public reporting does not confirm a parallel criminal indictment of Pires specifically in the MCC matter, though he faces civil SEC liability in that case”

    reviewerA separate criminal indictment was filed by DOJ against Capuci in the MCC scheme, but available reporting does not confirm a parallel criminal indictment of Pires in that matter.This properly hedged claim is accurate based on everything I could find.
14. #17[confirmed][no action needed]in section: CFTC Default Judgment — EmpiresX (February 2025)

    “On February 4, 2025, Judge Cecilia Altonaga of the U.S. District Court for the Southern District of Florida entered a default judgment in the CFTC's EmpiresX civil enforcement action. The order requires Emerson Pires and Flavio Goncalves to pay, jointly and severally, more than $32 million in disgorgement and more than $96 million in civil monetary penalties, totaling approximately $128 million.”

    reviewerOn February 4, 2025, Judge Cecilia Altonaga entered a CFTC default judgment requiring Pires and Goncalves to pay jointly and severally more than $32 million in disgorgement and more than $96 million in civil penalties (~$128 million total), plus permanent trading/registration bans.Fully confirmed against the primary regulator source.
    citedwww.cftc.gov/PressRoom/PressReleases/9045-25www.cftc.gov/media/11771/enfemersonpires…r020425/download
15. #19[confirmed][no action needed]in section: Flight to Brazil and Brazilian Proceedings

    “On September 13, 2023, Brazilian Federal Police conducted Operation Yang, mobilizing over 100 officers to execute 25 search and seizure warrants and two arrest warrants across multiple Brazilian states including DF, GO, SC, MS, PR, RS, SP, and ES.”

    reviewerOn September 13, 2023, Brazilian Federal Police conducted Operation Yang, mobilizing over 100 officers to execute 25 search/seizure warrants and two arrest warrants across DF, GO, SC, MS, PR, RS, SP, and ES; Pires was reportedly arrested in Florianopolis; the investigation (begun August 2022) covers ~R$300 million in alleged laundering and 52 blocked properties.Note that the underlying BehindMLM reporting itself says it was 'unable to verify' whether Pires specifically was the one arrested in Florianopolis (as opposed to Capuci) — the page's hedged phrasing 'Reports indicate Pires was arrested' appropriately reflects that uncertainty rather than overstating it.
    citedbehindmlm.com/companies/empiresx/mining-…zures-in-brazil/