What Was Johann Steynberg Arrested For? Fraud Charges On MTI CEO, Is He In Jail?
Johann Steynberg, the founder of collapsed Bitcoin trading platform Mirror Trading International, has been arrested. He had bought a timber plantation in Panama in early 2020.
Johann Steynberg has been arrested in Goiania in the capital city of Goias, of Brazil. As per multiple reports, he was the founder and chief executive officer of Mirror Trading International (MTI).
Brandon Topham of the Financial Sector Conduct Authority said that the Hawks had confirmed Steynberg’s arrest on Friday afternoon.
What Was Johann Steynberg Arrested For?
According to Brazilian military police, Johann Steynberg was arrested last week, primarily in central Brazil, for using a false document.
Furthermore, the police found Steynberg in possession of two fake IDs, two laptops, a cell phone and six credit cards.
MTI was placed in and final liquidation in July 2021 and provisional liquidation in December 2020,
Many citizens worldwide were involved in the scheme, which promised returns of up to 10% a month.
Despite repeated warnings from the FSCA, investors had to send bitcoin (BTC) to participate in the scheme.
The scheme developed into what was rated the most giant crypto scam of 2020 by Chainalysis. Because of the significant part to aggressive marketing and commissions of 10% on any new client introduced.
Brazilian website reported that Steynberg was arrested in the Alto da Glória region and is held to the Federal Police Superintendence in Goiânia in central Brazil.
What Are The Fraud Charges On MTI CEO, Is Johann Steynberg In Jail?
Johann Steynberg opened a possible line of inquiry reaching into South America. He had bought a timber plantation in Panama in early 2020.
Steynberg is married to his wife, Nerina.
While Topham said the Hawks did not say where Steynberg was arrested, the government of the central Brazilian state of Goiás announced they had arrested a South African fugitive in the regional capital, Goiânia, on 29 December.
In a statement, he was described as the founder of MTI, a bitcoin-based investment scheme named the biggest cryptocurrency scam of 2020.
Johann went missing in December 2020, and the scheme collapsed.
He was suspected of travelling in Brazil at the time.
How Rich Is Johann Steynberg? Net Worth Explored
Johann Steynberg net worth is estimated at around $589 million.
This money-making scheme was the most compelling cryptocurrency scam in the year 2020.
In September 2020, after an organization asserting to be Anonymous ZA exposed the operation of this scheme, the MIT scheme was the subject of headlines.
The court documents estimated the currency that passed through MTI at 29,421.03379 bitcoin (R19.7 billion) in present exchange rates.
According to a source with the case’s expertise, more than 46,000 bitcoin (almost R31 billion) flowed through the scheme.