CEO of Mirror Trading International Bitcoin Ponzi Scheme Arrested in Brazil
Johann Steynberg, the wanted CEO of Mirror Trading International was recently arrested by Brazilian law enforcement after he was caught using a fake document. The arrest, which took place in the country’s Goiás province, was carried out by the Brazilian military police. Fake IDs, Laptops, and Credit Cards Seized
Johann Steynberg, the CEO of Mirror Trading International (MTI), a bitcoin Ponzi scheme, was recently arrested by Brazilian law enforcement after he was caught using a false document, reports from the South American country have said. Following the arrest, credit cards, laptops, and fake identification were also seized.
As per several Portuguese language reports, Steynberg, who is on Interpol’s wanted list, was apprehended in the Goiás province by members of an elite unit within Brazil’s military police.
In a statement confirming the arrest, the Brazilian military police also shared details of the steps taken before the decision to capture Steynberg was made. The statement explains: After an intense work of identification and follow-up, and with the help of information passed on by the Federal Police, it was possible to identify and approach the suspect, who presented a false document at the time of the approach. Steynberg Fined for Using False Document
On top of being arrested for his role as the key mastermind behind the MTI bitcoin Ponzi scheme, the Brazilian military police said Steynberg must also pay a fine relating to his use of a false document.
As previously reported by Bitcoin.com News, Steynberg disappeared in late December 2020 when reports emerged that several MTI investors were unable to withdraw their funds. Shortly after his disappearance, a South African court ruled that MTI had to be placed under provisional liquidation.
However, since then, other masterminds of MTI — which was named the biggest bitcoin scam in 2020 — have waged a battle to stall the process of liquidating the collapsed company. Meanwhile, a court ruling on a petition that seeks to have MTI declared an illegal business is still pending. Tags in this story Johann Steynberg, Mirror Trading International (MTI), MTI bitcoin scam, MTI bitcoins, MTI liquidation, Ponzi Scheme
What are your thoughts on this story? Tell us what you think in the comments section below. Terence Zimwara
Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Investors in Collapsed South African Crypto Platform Push for Jailing of Africrypt Directors REGULATION | 9 hours ago Cryptocurrency Worth $435 Million Seized by 12 UK Police Forces in Five Years REGULATION | 20 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSolana Formally Acknowledges Problems With ‘High Compute’ Transactions Clogging the Network Next articleInvestors in Collapsed South African Crypto Platform Push for Jailing of Africrypt Directors Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItItalian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG
The Italian luxury sports car manufacturer headquartered in Maranello, Italy, Ferrari has announced the firm is partnering with Velas Network AG, a firm that specializes in blockchain and non-fungible token (NFT) technology. Ferrari Reveals Partnership With Blockchain Firm Velas On ... read more.Ethereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed Tokenized Bitcoin in Circulation Nears a Half Million BTC, Bitcoin-Pegged Token Value Exceeds $21 Billion Million-Dollar Digital Collectibles: An In-Depth Look at the Top 10 Most Expensive NFTs Sold This Year India"s Swadeshi Jagran Manch Calls for Outright Ban on Cryptocurrency