• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked

by
December 24, 2020
in Uncategorized
0
CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

In an unexpected turn of events, the management team at Mirror Trading International (MTI) now suggest that their CEO Johann Steynberg may have exit scammed. The team alleges that Steynberg, now believed to be in Brazil, has locked out key management staff from accessing MTI’s account with a local bank. Additionally, management now appears to confirm earlier allegations that bitcoin withdrawal requests are not being honoured despite previously refuting this.

Related articles

ClayStack Releases Updates on the Staking Ecosystem

March 7, 2021

Mark Cuban sees $1 written in DOGE’s tea leaves

March 7, 2021

Status of Investors’ BTC Unknown

The last-minute revelations by MTI management appear to buttress the findings of an investigation by the Financial Sector Conduct Authority (FSCA), South Africa’s financial services regulator. In its update on the MTI probe, the FSCA said it uncovered losses that were not previously reported as well as bitcoins that cannot be accounted for. The FSCA says the investigation also found evidence suggesting that MTI’s broker, Trade 300 is linked to Steynberg.

Interestingly, in a statement issued on behalf of management there is a belief that Trade 300 “is potentially owned and operated by Johann Steynberg.” The statement also adds that “communication with this broker has been sparse and unforthcoming.”

Meanwhile, in the seven paged “MTI critical statement”, the management team chronicles the chain of events that followed the FSCA’s raid on the residences of the bitcoin trading company’s top executives in late October. The document starts by explaining the steps that Steynberg allegedly took after the raid and how such measures were meant to safeguard investors’ bitcoins. The statement says:

Johann told us that when the FSCA took all the electronic devices, a security protocol was put in place with the broker to avoid all our member bitcoin being stolen, this included a limitation of withdrawals. This was communicated to all members on managements’ insistence.

Next, the MTI statement states that the CEO then requested Clynton Marks – a member of the MTI management team – for 400 BTC “to pay members that had made withdrawals as the limitation on withdrawals with the broker was still a hindrance.” The statement claims that Marks agreed and transferred the BTC to the CEO but management “has no proof that Johann did contribute the amount stated.” Marks, who reportedly used his personal BTC, carried out three transfers between November 1 and 12.

The Email

Later, on November 30, Steynberg “received” an email from an anonymous source warning him of an imminent raid by the FSCA, again. In the email, the anonymous sender thanks Steynberg “for everything you do for humanity” before urging him to skip the country for his own safety. Using this email as justification, the CEO apparently left South Africa on or after December 2 and left his wife to manage his affairs in his absence.

CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked

Later, the MTI management team members, who were uncomfortable with the CEO’s arrangement, threatened not to work with Steynberg unless he conceded to their demand “to appoint a proper second in charge that could run the system in his absence.” Still, Steynberg reportedly refused as he insisted that his wife “Nerina is his 2IC” and the MTI team seemingly relented. Nevertheless, starting on December 15, Steynberg ceased communicating with MTI management.

Since uncovering the “terrible situation” the MTI team claims it has been trying to recover investors’ BTC that cannot be accessed. A private investigator has since been hired to trace Steynberg and the team adds it will be working with law enforcement “until this
matter is resolved.”

What are your thoughts on these new MTI revelations? Tell us what you think in the comments section below.

The post CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked appeared first on Bitcoin News.

Share76Tweet47

Related Posts

ClayStack Releases Updates on the Staking Ecosystem

by
March 7, 2021
0

ClayStack recently announced that their developers are working towards launching their Alpha Platform. As we await the launch, ClayStack has...

Mark Cuban sees $1 written in DOGE’s tea leaves

by
March 7, 2021
0

"If we sell another 6,556,000,000 DOGE worth of Mavs merch, Dogecoin will definitely hit $1," said the Dallas Mavericks owner....

Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

by
March 7, 2021
0

In 10 years Bitcoin’s finite supply will be nearly exhausted, meaning holders might only need 0.01 BTC to become filthy...

Satoshi’s 21 Million Mystery: One-Millionth of the Bitcoin Supply Cap Is Now Worth $1 Million

Satoshi’s 21 Million Mystery: One-Millionth of the Bitcoin Supply Cap Is Now Worth $1 Million

by
March 7, 2021
0

On Sunday, March 7, 2021, the price per bitcoin jumped over the $50k handle once again, as the digital asset’s...

Celsius Network valued at $3.1B following independent review

by
March 7, 2021
0

Celsius is expected to grow its assets under management by 25% annually through 2025, according to Alpha Sigma Capital. Using...

Load More
  • Trending
  • Comments
  • Latest
Grayscale CEO outlines 6 themes that will shape crypto market in 2021

Grayscale CEO outlines 6 themes that will shape crypto market in 2021

January 20, 2021
GrayScale Reopens ETHE Buying

GrayScale Reopens ETHE Buying

February 1, 2021
Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

February 3, 2021
Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

February 6, 2021

ClayStack Releases Updates on the Staking Ecosystem

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0

ClayStack Releases Updates on the Staking Ecosystem

March 7, 2021

Mark Cuban sees $1 written in DOGE’s tea leaves

March 7, 2021

Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

March 7, 2021
Satoshi’s 21 Million Mystery: One-Millionth of the Bitcoin Supply Cap Is Now Worth $1 Million

Satoshi’s 21 Million Mystery: One-Millionth of the Bitcoin Supply Cap Is Now Worth $1 Million

March 7, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Aave (AAVE)
  • Abra
  • altcoin
  • Altcoin News
  • altcoins
  • Altseason
  • Basic Attention Token (BAT)
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Ecosystem
  • Binance Smart Chain
  • Binance Smart Chain (BSC)
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • Bitcoin Futures
  • Bitcoin Miners
  • bitcoin network
  • Bitcoin Options
  • Bitcoin price
  • Bitcoin SV (BSV)
  • Bitfinex
  • BitGo
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • Cardano (ADA)
  • Cardano Upgrade
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Community
  • Chainlink Price Prediction
  • Changpeng Zhao
  • charlie lee
  • CME Ethereum Futures
  • CME Group
  • coinbase
  • Coinmarketcap
  • Consensys
  • Craig Wright
  • Crypto Exchanges
  • cryptocurrency
  • Dash (DASH)
  • DeFi
  • DeFi Pulse
  • Deribit
  • Dogecoin (DOGE)
  • Electric Coin Company
  • Elon Musk
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Fees
  • Ethereum Futures
  • Ethereum Miners
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Grayscale Ethereum Trust (ETHE)
  • Grayscale Investments
  • Guide
  • Guides
  • Huobi
  • Institutional Investors
  • jack dorsey
  • Jay Z
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Market
  • Michael Saylor
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • OKECoin
  • Other
  • Pantera Capital
  • Polkadot (DOT)
  • Polkadot Price Analysis
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Square
  • SushiSwap (SUSHI)
  • Tesla
  • Tether (USDT)
  • tether bitfinex lawsuit
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Uniswap
  • UniSwap (UNI)
  • Wallets and Exchanges
  • WallStreetBets
  • Weiss Ratings
  • Wrapped Bitcoin (WBTC)
  • XRP
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.