CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Fu...
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. Status of Investors’ BTC Unknown The last-minute revelations by MTI management appear to buttress the findings of an....
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Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading International (MTI), have been asked by the scheme’s liquidators to pay back over $291 million to cover the scam operation’s debts. Liquidators’ Influence Liquidators of the South African bitcoin Ponzi scheme, Mirror Trading International (MTI), have issued summonses against eighteen individuals believed to be the masterminds behind the now-defunct scheme. The liquidators want the named individuals to pay back more than $291 million (4,666,077,528 rand) to cover the....
MMM is currently under investigation in South Africa by the Directorate for Priority Crime Investigation - HAWKS. There are mixed reviews about MMM Global, the alleged Ponzi scheme run by Sergey Mavrodi. While many people across the internet are calling it an elaborate fraud, there are those, a significant number of people in South Africa who are defending these very schemes. MMM Global is currently under investigation in South Africa by the Directorate for Priority Crime Investigation – HAWKS. As the investigation continues, the supporters of MMM have come out in large numbers to protest....
MMM, the Ponzi scheme run by Sergey Mavrodi now claims Nigerian investors, following its success in defrauding those from South Africa and Zimbabwe. Over the past few years, people across the world have been getting emails from “Nigerian princes”. These self-proclaimed royals promise riches in return for a small deposit. But overall, they were a scam even a child could tell. Replacing the Nigerian princes in latest events is MMM Global, a company that has notoriously conned people off their savings in many countries, including Zimbabwe and South Africa. The hoax investment firm is now....
Supporters of MMM, which is accused of being a Ponzi scheme, marched in Soweto, South Africa in celebration of the Financial Freedom Awareness campaign, coinciding with South Africa’s Freedom Day, according to Independent Online (IOL), a South African news source. MMM Global is under investigation by The Hawks, South Africa’s Directorate for Priority Crime Investigation (DPCI), which targets organized crime, economic crime, and corruption. Brigadier Hangwani Mulaudzi said investigations into MMM continue. The scheme is active in various countries and has been accused of being a Ponzi....
This particular Ponzi Scheme in Vietnam will give Bitcoin a bad reputation in the country. Cryptocurrency is not regulated by the banks, and the local government is not too keen on Bitcoin either. Ever since the inception of Bitcoin, there have been individuals and companies trying to discredit cryptocurrency. Some of them even go as far as setting up deliberate Ponzi Schemes to defraud Bitcoin investors. Such a scheme seems to be on the brink of collapse in Vietnam. Hundreds of people have been burned by this pyramid scheme, which seemed to rely on an MLM structure. It is not the first....