Pablo Henrique Borges

Key Points

• Criminal Allegations: Pablo Henrique Borges is accused of leading a cybercrime syndicate responsible for defrauding over 20,000 bank accounts, resulting in losses of approximately R$400 million (around $80 million USD). He is also linked to money laundering through cryptocurrency operations and suspected of involvement in the murder of a PCC (Primeiro Comando da Capital) trafficker, Anselmo Becheli Santa Fausta.

• Luxury Lifestyle: Borges and his wife, Marcella Portugal, have been noted for their ostentatious lifestyle, including luxury cars, a yacht, and high-end properties, allegedly funded by illicit activities.

• Legal Status: Arrested in 2018 during “Operação Ostentação” and again in 2022, Borges has faced multiple charges but secured temporary releases through legal maneuvers, including a plea deal. Over 60 legal processes are associated with his name in Brazilian courts.

• Asset Seizures: Authorities have seized and auctioned luxury items, including a Rolex watch, designer bags, and a yacht, to prevent asset depreciation and recover illicit gains.

• Cryptocurrency Operations: Borges operated a cryptocurrency mining facility in Paraguay, suspected of being a front for money laundering.

Overview

Pablo Henrique Borges, a Brazilian entrepreneur and self-proclaimed IT specialist, gained notoriety as the alleged mastermind behind a sophisticated cybercrime operation. Born around 1994, Borges initially presented himself as a successful businessman in São Paulo, managing E-Price Capital Participações, a company he acquired and scaled with a reported capital of R$5 million. His business ventures included cryptocurrency trading and mining, notably through a facility in Paraguay. Borges’ public persona, alongside his wife, model and influencer Marcella Portugal, was marked by extravagant displays of wealth, including luxury vehicles (Lamborghini, Ferrari, Maserati), international travel, and high-value real estate. However, investigations revealed that his wealth stemmed from large-scale cyberfraud and potential ties to organized crime, including the PCC, Brazil’s largest criminal faction.

Allegations and Concerns

• Cybercrime and Fraud: Borges is accused of leading a hacking group that infiltrated over 20,000 bank accounts, using stolen credentials to siphon funds or secure unauthorized loans. The scheme, uncovered in 2018 during “Operação Ostentação,” involved offering discounted boleto (bill) payments via social media, funded by hacked accounts, causing R$400 million in damages.

• Money Laundering: Authorities suspect Borges laundered money through his cryptocurrency operations, including a mining facility in Paraguay. His company, E-Price Capital, is alleged to have served as a financial arm for the PCC.

• Homicide Involvement: Borges was arrested in 2022 as a suspected mastermind in the 2021 murder of PCC trafficker Anselmo Becheli Santa Fausta (“Magrelo”) and his associate, Antônio Corona Neto. The motive reportedly involved a dispute over $100 million in PCC funds Borges was tasked with investing in cryptocurrencies, which subsequently disappeared. He was later released due to insufficient evidence linking him to the crime.

• Prior Criminal Activity: Before his major arrests, Borges was known to police for smaller internet scams, such as selling fake airline miles and using stolen credit card information.

Customer Feedback

There is no direct consumer feedback available, as Borges’ activities primarily targeted bank account holders indirectly through hacking rather than direct customer interactions. However, the scale of the fraud (20,000+ accounts) suggests widespread financial harm to individuals and businesses. Public sentiment, as reflected in media and social platforms, is overwhelmingly negative, focusing on his alleged criminality and ostentatious lifestyle. Specific quotes from reports include:

• “A life of luxury with the money of others,” describing Borges’ lifestyle funded by fraud.

• “Pablo Borges and Marcella Portugal levavam uma vida de luxo, com iates, aviões, corridas em Mônaco e jantares em Paris,” highlighting their lavish spending.

No positive feedback or endorsements from credible sources were found, as Borges’ public image is dominated by his criminal allegations.

Risk Considerations

• Financial Risks: Borges’ operations have caused significant financial losses to victims, and his involvement in cryptocurrency markets poses risks of volatility and fraud for any associated investors or partners. His history suggests potential for future schemes if not fully prosecuted.

• Reputational Risks: Association with Borges, whether through business or personal ties, carries severe reputational damage due to his high-profile criminal allegations and media coverage. His wife, Marcella Portugal, has faced scrutiny, though no evidence confirms her knowledge of his activities.

• Legal Risks: With 61 legal processes listed on Jusbrasil, Borges faces ongoing litigation across civil and criminal domains, including fraud, money laundering, and homicide charges. Future convictions could lead to lengthy imprisonment and further asset seizures.

• Security Risks: Borges’ alleged ties to the PCC and involvement in a high-profile murder case suggest potential physical risks for associates, given the violent nature of organized crime.

Business Relations and Associations

• Marcella Portugal: Borges’ wife, a model and digital influencer, is frequently mentioned in connection to his lavish lifestyle. Her passport was seized during a 2022 raid, but no charges have been filed against her.

• E-Price Capital Participações: Borges’ company, based in São Paulo’s upscale Itaim Bibi, was allegedly used as a front for cyberfraud and money laundering. It was equipped with high-end technology and managed by his padrasto (stepfather).

• Vinícius Gritzbach: A real estate broker and suspected co-conspirator in the PCC murder case, Gritzbach was involved in a $4.4 million lawsuit against Borges over bitcoin transactions. He was killed in 2024, highlighting the dangerous circles Borges operates in.

• David Moreira: A former prison agent and Borges’ ex-security guard, implicated in the same murder case.

• PCC (Primeiro Comando da Capital): Borges is alleged to have managed financial operations for the PCC, including investing trafficker funds in cryptocurrencies.

Legal and Financial Concerns

• Lawsuits and Processes: Jusbrasil lists 61 legal processes involving Borges, primarily in São Paulo (TJSP, 27 cases) and the Federal District (TJDF, 18 cases). These include criminal charges for fraud, money laundering, and homicide, as well as civil disputes. Notable cases include:

  • Process nº 0711544-02.2019.8.07.0003 (TJDF, involving multiple parties).

  • Process nº 1007012-54.2019.8.26.0011 (TJSP, linked to fraud).

• Arrests and Releases: Arrested in October 2018 for cyberfraud, Borges secured a plea deal, converting his detention to house arrest. Arrested again in February 2022 for the PCC murder case, he was released after an acareação (confrontation) failed to substantiate his involvement.

• Asset Seizures and Auctions: In 2020, nearly 100 luxury items, including a R$120,000 Rolex and a R$100,000 designer bag, were auctioned, raising R$1.3 million. A yacht valued at R$15 million remains slated for auction.

• Financial Disputes: A 2023 lawsuit by Vinícius Gritzbach claimed Borges owed R$4.4 million in bitcoin transactions, though the case was suspended after Gritzbach’s death.

• No Bankruptcy Records: No public records indicate personal or corporate bankruptcy, likely due to the illicit nature of Borges’ wealth.

Risk Assessment Table

Expert Opinion

Pablo Henrique Borges represents a high-risk individual due to his extensive criminal allegations, ties to organized crime, and ongoing legal battles. His ability to secure temporary releases and maintain a luxurious lifestyle despite seizures suggests sophisticated legal and financial maneuvering, possibly supported by illicit networks. The scale of his alleged cyberfraud—impacting thousands of victims—underscores his technical expertise and potential for recidivism. His cryptocurrency operations, while innovative, are tainted by money laundering suspicions, making any business association with him untenable.

Pros:

• Demonstrated technical proficiency in IT and cryptocurrency, indicating high operational competence.

• Ability to navigate complex legal systems, securing favorable outcomes like plea deals.

Cons:

• Overwhelming evidence of criminal activity, including fraud, money laundering, and potential homicide involvement.

• Dangerous associations with the PCC and individuals linked to violent crimes.

• Lack of transparency or legitimate business success to counterbalance allegations.

Cautionary Advice: Avoid any personal or professional engagement with Borges. His history suggests a pattern of exploiting trust and technology for illicit gain. Businesses or individuals considering cryptocurrency ventures should steer clear of any entities tied to him, as legal and reputational fallout is likely. Monitor ongoing court cases for updates on convictions or additional charges, as these could impact related parties.

Key Citations

• Jusbrasil: 61 legal processes involving Pablo Henrique Borges.

• Portal do Bitcoin: Details on cryptocurrency operations and murder allegations.

• G1: Coverage of 2022 arrest and PCC connections.

• Época: In-depth report on cyberfraud scheme and lifestyle.

• Fantástico (Globo): Auction of luxury items and fraud investigation.

• Metrópoles: Lawsuit details and Gritzbach’s murder.

• Hojemais: Auction results and background.