Mirror Trading International Ordered to Pay $1.7 Billion
The CFTC has reported that the South African firm, Mirror Trading International (MTI), must compensate victims of its crypto fraud with $1.7 billion.
The court found both the company and its CEO, Cornelius Johannes Steynberg, responsible for conducting a multi-level marketing fraud under the guise of promised trading software.
MTI misappropriated investor funds instead of trading with an automated bot as promised. Available data indicates that the company collected 29,421 BTC from over 23,000 individuals in the U.S. and around the world.
MTI misappropriated investor funds instead of trading with an automated bot as promised. Available data indicates that the company collected 29,421 BTC from over 23,000 individuals in the U.S. and around the world.
