Tiago Fontoura arrested in Tunisia?
Following the collapse of the GetEasy Ponzi scheme, insider Tiago Fontoura went on to launch the reload scheme Go2Up.
Go2Up’s business model continued where GetEasy left off, seeing affiliates invest up to €3000 on the promise of ROIs paid out subsequently invested funds.
As with most reload schemes, Go2Up failed to grow as large as its predecessor.
Some six months after its launch however the scheme persisted, with Founder Tiago Fontoura recently touching down in Tunisia to spruik the scheme.
If reports out of Tunisia are to be believed, upon landing in Tunisia Fontoura was arrested on criminal charges.
When exactly Fontoura was arrested is unclear, with affiliates first noticing something was up when the Go2Up website was abruptly parked on a maintenance page on or around June 23rd. Go2Up backoffice access was also reportedly shut down the same day.
A few days later, multiple Go2Up affiliate Facebook pages were reporting that Fontoura had been arrested by Tunisian authorities:
Further research reveals that in early June, an announcement of a Go2Up office opening up in Tunisia by the end of the month was made. Presumably this is why Fontoura was in Tunisia.
Putting to together what has happened since Fontoura’s arrest in late June is sketchy, with only a handful of Arabic-language news sources having published anything on it.
On the 2nd of July the website Tunisien reported that Fontoura had been charged with defrauding some 40,000 Tunisians through GetEasy.
According to the report, Fontoura was arrested at the hotel he was staying at. Money laundering is a part of the case, with charges filed last Thursday. A billion dollar figure in losses is quoted, but I’m not sure what currency that is in.
Tunisia’s official currency is the Tunisian Dinar, with 1 billion TND equal to $508 million USD. If the Tunisian Dinar is indeed the currency being cited by Tunisien, then holy crap!
The same day the website Assabah reported another arrest, with a blurred out photo of a GetEasy “general manager”.
I might be wrong, but I believe that’s Go2Up’s Edgar Fontoura:
The report claims Fontoura has dual Brazilian-Portuguese nationality, and again charges of fraud and money laundering are mentioned.
Citing the number of Tunisian victims of GetEasy, Assabah conclude:
(It) is expected to see major developments in the case due to its size and the large number of affected (victims).
Nordouest News also carried the story on the 2nd of July, citing a photo of Tiago Fontoura in their report.
A followup article by Assabah on July 3rd mentions ongoing investigations into alleged money laundering and fraud by three additional suspects. Assabah reports they are also up for “use of a banking business without a license”.
Apparently investigations in Tunisia began on June 11th, with authorities seizing the moment when Fontoura entered Tunisia later in the month.
That’s where we’re currently at, with Fontoura and whoever else might have been arrested since remaining in custody.
Following Fontoura’s arrest, the official Go2Up Tunisia Facebook group was shut down. At the time of publication, the Go2Up website remains parked on a maintenance page, with those running presumably unsure of what to do following Fontoura’s arrest.
For those curious, Tunisia apparently use a mixture of French civil law with certain aspects of Islamic law blended in. Typically Islamic law takes precedence over civil law when there’s an overlap.
Tracking this case is going to be difficult due to the lack of English coverage, but we’ll try to keep on top of it. Stay tuned…