Key Takeaways:
- Mirror trading’s CEO arrested in Brazil for running a bitcoin ponzi scheme.
- Brazilian military police carried out the arrest, which took place in the country’s Goiás province.
According to sources from Brazil, Johann Steynberg, the CEO of Mirror Trading International (MTI), a bitcoin Ponzi scheme, was recently arrested by Brazilian law authorities after he was found using a bogus document. Credit cards, laptops, and bogus identities were also seized after the arrest.
Steynberg, who is on Interpol’s wanted list, was caught in the Goiás province by members of an elite section of Brazil’s military police, according to various Portuguese language media.
The Brazilian military police confirmed the arrest in a statement that also detailed the processes taken before apprehending Steynberg. The statement goes on to say:
“It was feasible to identify and approach the suspect, who produced a bogus document at the time of the approach, after extensive identification and follow-up work and with the support of information provided by the Federal Police.”
In addition to being jailed for his role as the mastermind behind the MTI bitcoin Ponzi scheme, the Brazilian military police have ordered Steynberg to pay a fine for falsifying documents.
When rumours surfaced that numerous MTI investors could not withdraw their funds, Steynberg vanished in late December 2020. Shortly after his disappearance, a South African judge declared that MTI had to be put into provisional liquidation.
However, since then, other masterminds of MTI — which was named the most giant bitcoin scam in 2020 — have fought to save the company from being liquidated. In the meantime, a court decision on a petition to declare MTI an illegal business is still waiting.
