A US financial services regulator has civilly charged Mirror Trading International CEO Johann Steynberg with fraud. It said this is the largest fraudulent scheme involving Bitcoin charged in any of its cases.
In addition to fraud, it charged Mirror Trading International and Johann Steynberg with registration violations.
When MTI collapsed on 22 December 2020, Bitcoin had set a new all-time high price of around $24,000 per Bitcoin. “In its continuing litigation, the CFTC seeks full restitution to defrauded investors, disgorgement of ill-gotten gains, civil monetary penalties, permanent registration and trading bans, and a permanent injunction against future violations of the Commodity Exchange Act and CFTC Regulations.”
However, liquidators of the MTI estate in South Africa have thus far recovered 1,281 Bitcoin that MTI’s former brokerage, FXChoice, had frozen.
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