The payments came through at first, building confidence before the withdrawals stopped
Em Niterói, a promessa de prosperidade rápida voltou a revelar seu custo humano: Caio Kohlbach Reis foi preso pela Delegacia de Fraudes do Rio de Janeiro como peça central de um esquema que, desde 2020, desviou cerca de cinquenta milhões de reais de pelo menos 165 pessoas. O caso segue um roteiro antigo — retornos sedutores, aparência de legitimidade e a inevitável hora em que o dinheiro para de circular. A investigação continua, mas oito suspeitos ainda estão foragidos, lembrando que a justiça, como os próprios esquemas, se constrói camada por camada.
- A promessa de 3% de retorno mensal atraiu centenas de investidores que viram nos posts de helicóptero e jet-ski nas redes sociais a prova de que o dinheiro era real.
- Dezenove empresas de fachada registradas no mesmo endereço no centro do Rio criavam uma ilusão de estrutura corporativa sem qualquer autorização da CVM.
- Quando os saques pararam de ser processados, 165 vítimas perceberam que seu capital havia desaparecido dentro de uma engrenagem clássica de pirâmide financeira.
- A Delegacia de Fraudes obteve mandados de prisão para onze membros após dois anos de investigação, e Reis é o mais recente a ser capturado.
- Oito suspeitos, incluindo os apontados como arquitetos do esquema, seguem foragidos enquanto as autoridades tentam rastrear e recuperar os ativos desviados.
Caio Kohlbach Reis foi preso na quinta-feira no bairro Santa Rosa, em Niterói, após meses de investigação da Delegacia de Fraudes da Polícia Civil do Rio. As autoridades o identificam como o principal recrutador de um esquema de pirâmide que operava desde 2020 e movimentou cerca de cinquenta milhões de reais.
Nas redes sociais, Reis exibia uma vida de passeios de helicóptero, viagens e festas — uma vitrine calculada para atrair quem buscava multiplicar o próprio dinheiro. A organização prometia retornos de 3% ao mês. No início, os pagamentos saíam em dia, o que gerava confiança, reinvestimentos maiores e novos recrutas. O ciclo se sustentou até que os saques deixaram de ser processados e as vítimas perceberam que haviam perdido o acesso ao seu capital.
A polícia identificou dezenove empresas de fachada registradas no mesmo endereço na Rua da Assembleia, no centro do Rio, vinculadas a dois grupos chamados LGO e A&C. Nenhuma delas tinha autorização da Comissão de Valores Mobiliários para operar. O modelo era clássico: os rendimentos dos primeiros investidores eram pagos com o dinheiro dos mais recentes, sem qualquer negócio real gerando lucro.
As investigações começaram em 2022. No mês passado, a delegacia obteve mandados para onze membros. Igor Aguiar Rodrigues Gonçalves e Luiz Gustavo de Oliveira Fernandes já estavam presos. A captura de Reis representa mais um avanço, mas oito suspeitos — entre eles Bruno Facão de Carvalho e Douglas de Assis Viana, apontados como os idealizadores do esquema — ainda estão foragidos.
Ao menos 165 pessoas registraram queixas, com prejuízos somando aproximadamente cinquenta milhões de reais. O Ministério Público do Rio denunciou os onze identificados por organização criminosa, estelionato e crimes contra a economia popular. A investigação continua, com foco em localizar os foragidos e recuperar os ativos que possam ser restituídos às vítimas.
Caio Kohlbach Reis was arrested on Thursday in the Santa Rosa neighborhood of Niterói, across the bay from Rio, after months of investigation into what police say was a sprawling investment fraud that pulled in roughly fifty million reais. The Civil Police's Fraud Division identified him as the recruiter—the person who convinced people to hand over their money to what looked like a legitimate investment opportunity but was, in fact, a classic pyramid scheme that had been operating since 2020.
On social media, Reis lived visibly. There were photos of helicopter rides, jet-ski outings, travel, parties—the kind of casual documentation of wealth that catches the eye of people looking for a way to build their own. That was partly the point. The organization he worked for promised investors a return of roughly three percent each month, a figure that sounds plausible until you do the math across years. In the beginning, the payments came through. New investors got their money back on schedule, which built confidence. They reinvested larger amounts. They told friends. The scheme fed on itself, as these schemes do, until the withdrawals stopped being processed and people realized they had lost access to their capital.
The police found that the criminal organization had created nineteen shell companies to give the operation the appearance of legitimacy. These companies were registered at the same address in downtown Rio, on Rua da Assembleia, and were loosely affiliated with two larger groups called LGO and A&C. None of them had authorization from Brazil's Securities Commission to operate in the financial markets. They were running an unlicensed investment operation, taking money from the public, and moving it according to the logic of a Ponzi scheme—where the returns paid to early investors came directly from the deposits of newer ones, with no actual underlying business generating profit.
Investigations began in 2022. By last month, the Fraud Division had enough evidence to seek arrest warrants for eleven members of the organization. Igor Aguiar Rodrigues Gonçalves, described as part of the commercial core and responsible for keeping victims engaged and extracting additional money from them, was arrested in that first sweep. Luiz Gustavo de Oliveira Fernandes, identified as a partner to the scheme's leaders, was already in custody. Reis's arrest this week represents another piece of the puzzle falling into place.
But the investigation is far from complete. Eight people remain at large, including Bruno Facão de Carvalho and Douglas de Assis Viana, who police say were the architects of the scheme. Also wanted are Daniel Sérgio de Assis, João Pedro Rocha de Faria, Mário José do Nascimento, Mayara Cristina Oliveira de Souza, Rafhael Marinho Mashio, and Victor Hugo Ferreira de Souza Vieira. The Fraud Division is continuing to track them down.
At least one hundred sixty-five people filed lawsuits or made police reports related to the scheme. Their combined losses amount to approximately fifty million reais. The Public Ministry of Rio de Janeiro has charged the eleven identified members with organized crime, fraud, and crimes against the popular economy. The case is being handled by the Second Criminal Court Specialized in Organized Crime. Police say they are still working to locate the remaining members of the organization and to recover whatever assets can be traced back to the victims.
Citações Notáveis
The group promised monthly returns of approximately three percent and used shell companies to create the appearance of legitimate financial operations— Civil Police Fraud Division
A Conversa do Hearth Outra perspectiva sobre a história
Why does someone like Reis post all that luxury on social media if he's committing fraud? Isn't that drawing attention?
That's exactly the point. The photos aren't careless—they're part of the pitch. When someone sees a recruiter living that way, it signals that the scheme works, that you can get rich too. It's proof of concept.
So the three percent monthly return—did anyone actually believe that was sustainable?
In the first months, yes, because they got paid. That's the trap. You see your money grow, you see the proof in your account, so you stop asking whether the math makes sense. By the time you realize it doesn't, you've already told other people to invest, and you're in deeper.
Nineteen companies at one address. That seems obvious in hindsight.
It does now. But if you're an investor looking at official paperwork, seeing different company names, different letterheads, it creates the illusion of a diversified operation. It looks like a real business with multiple divisions.
What happens to the people who lost money?
That's the hard part. Police are trying to recover assets, but in schemes like this, the money moves fast and gets fragmented. Some victims may recover something. Many won't recover anything at all.
And the eight people still at large—do they have a chance of disappearing?
It depends on how well they've hidden themselves and their money. But this kind of case generates pressure. Once one person is arrested, others become more vulnerable. The network breaks down.