Cryptoknowmics
2022-07-01 08:50:12

CFTC Cites $1.7 Billion in Multilevel Marketing (MLM) Fraud Scam

The Commodity Futures Trading Commission (CFTC) has sued Cornelius Johannes Steynberg and Mirror Trading International Proprietary Limited (MTI) for alleged multilevel marketing (MLM) fraud scam. Statement of @CFTCjohnson Regarding the CFTC Charging South African Commodity Pool Operator and CEO with $1.7 Billion Fraud Involving Bitcoin. https://t.co/fKElfwQq5H — CFTC (@CFTC) June 30, 2022 Steynberg is accused of participating in international multilevel marketing (MLM) fraud scam that generated 29,421 BTC, or more than $1.7 billion, according to the complaint. Steynberg allegedly utilized his company MTI in the plan, which lasted for almost three years, from May 18, 2018, to March 30, 2021, according to the agency. Western District of Texas Received Civil Lawsuit The US District Court for the Western District of Texas received the civil lawsuit. CFTC Commissioner Kristin Johnson, in a press release, “The little trading that Defendants did was unprofitable, and they misappropriated essentially all of the at least 29,421 Bitcoin accepted from participants,” The CFTC announced in May that it was expanding resources to monitor the cryptocurrency sector, and the allegations against Steynberg and MTI are its most recent moves. Gemini Trust Company LLC, also known as Gemini, was the subject of a complaint from the CFTC earlier this month for allegedly deceiving authorities in 2017. The cryptocurrency exchange allegedly submitted “mat...

获取加密通讯
阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约