South African Court Submissions Expose Lies and Deceptive Tactics Used to Per...
New submissions by a South African regulator, the Financial Sector Conduct Authority (FSCA) and liquidators have exposed the web of lies and deceptive tactics that were used by Mirror Trading International (MTI) CEO Johann Steynberg and others to perpetuate the Ponzi scheme. Undeclared Losses In its report filed with the South African court, the regulator also exposes the true extent of losses that were incurred by the bitcoin investment company. For instance, in what the FSCA calls the “first period,” MTI had a “total of nearly 51 bitcoin (that) were deposited with....
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A South African regional court recently ruled to release former Monero lead maintainer, Riccardo Spagni, from custody. The ruling came just a few days after his arrest by local law enforcement agents, a report has said. Prior to his release, Spagni aka Fluffypony told the court he had returned to South Africa voluntarily and that he was not a flight risk.
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A South African regional court magistrate recently ruled to release fraud-accused former Monero lead developer, Riccardo Spagni, from custody on a warning, a report has....
Sandile Shezi, the South African bitcoin trader accused of defrauding investors, recently made his first court appearance before a Johannesburg magistrate.
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The bitcoin trader’s court appearance came just days after he honored his pledge to surrender himself to the police. However, according to a report by the Sowetan, Shezi — who is now out on bail — is set to return to court on November 24.
As previously reported by Bitcoin.com News, Shezi is facing fraud allegations that stem from his failure to honor promises he....
A South African High Court recently granted a provisional liquidation order against Mirror Trading International (MTI) following an application for relief by two investors who failed to withdraw their bitcoin. According to a statement released by lawyers of one of the aggrieved investors, this provisional order paves the way for the appointment of a liquidator to take control of MTI’s assets and liabilities. Provisional Order The order by the Cape Town court came after the Financial Sector Conduct Authority (FSCA) reported receiving complaints from investors who failed to withdraw....
A South African High Court recently served Mirror Trading International (MTI)’s Johann and Nerina Steynberg with a provisional sequestration order. The court’s decision follows a successful court application by the five joint provisional liquidators of the now-defunct online bitcoin scam. Sequestration Not Final According to a report, the order was reportedly served on the Steynbergs’ residential address at Eagle Crest in Polokwane. However, the report adds that the Steynbergs still “have until the return date of July 20, 2021, to give reasons why final....
Missouri Secretary of State Jason Kander has ordered a local bitcoin mining hardware company to halt operations, citing a number of concerns. The mining company, Virtual Mining Corporation (VMC), is headed by CEO Kenneth E. Slaughter and has been involved in the bitcoin space since 2009. VMC's parent company, AMC, is currently developing 28nm ASIC mining chips of its own, and it is this side of the business that has caused Kander to act. 'Deceptive tactics'. Kander claims that Slaughter used 'deceptive tactics' to raise money for the development of bitcoin mining rigs, with the Secretary....