CEO of Mirror Trading International Bitcoin Ponzi Scheme Arrested in Brazil – Regulation Bitcoin News

Brazilian police recently detained Johann Steynberg as the CEO of Mirror Trading International after he used a false document. The arrest, which took place in the country’s Goiás province, was carried out by the Brazilian military police.

FAKE IDS, Laptops and Credit Cards Scammed

Mirror Trading International (MTI) CEO Johann Steynberg was arrested recently by Brazilian authorities after being caught with a fake document. Credit cards, fake ID, and laptops were all seized following the arrest.

As per several Portuguese language reports, Steynberg, who is on Interpol’s wanted list, was apprehended in the Goiás province by members of an elite unit within Brazil’s military police.

The Brazilian military police confirmed Steynberg’s arrest in a statement. They also provided details about the actions taken prior to the capture decision. This is the statement:

It took a lot of work to find the suspect and then follow up with Federal Police. The Federal Police provided information that allowed us to approach him. He presented a fake document when we approached him.

Steynberg is fined for using a false document

Steynberg, who was the main mastermind of the MTI bitcoin Ponzi scam, was also arrested by the Brazilian military police. He must pay a fine for the use of false documents.

According to Bitcoin.com News reports, Steynberg vanished in December 2020 after it was reported that MTI investors had been unable withdraw funds. An South African court ordered that MTI be put into provisional liquidation immediately after his disappearance.

However, since then, other masterminds of MTI — which was named the biggest bitcoin scam in 2020 — have waged a battle to stall the process of liquidating the collapsed company. The case for declaring MTI illegal is still pending before a judge.

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. His writings have covered the economic problems of several African countries and how digital currency can offer an escape route.