U.S CFTC charges South African company over $1.7 billion bitcoin ponzi scheme - Aliens: AI Crypto News & Markets Updates

U.S CFTC charges South African company over $1.7 billion bitcoin ponzi scheme

Fri, Jul 01, 2022

Aliens TLDR

The U.S commodities regulator, Commodity Futures Trading Commission (CFTC), has filed civil charges against a South African company and its CEO for running a fraudulent commodity pool worth over $1.7 billion in bitcoin, and over registration violations.

The regulator stated that the fraud scheme by Mirror Trading International Proprietary Limited (MTI), the South African bitcoin pool operator, and Cornelius Johannes Steynberg, its CEO, solicited bitcoin online from thousands of people including 23,000 Americans.

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