South African bitcoin investment firm MTI confirms fraud and CEO fled to Brazil

According to Bitcoin.com, the management team at Mirror Trading International (MTI) have now revealed that the company's CEO, Johann Steynberg, will end the business. The group claimed that Steynberg, now considered to be in Brazil, had banned top executives from entering MTI bank. It also appears that the current administration has upheld the initial request that the Bitcoin removal request was not granted despite previous denials. Previously, the United States' Texas Securities Board (TSSB) accused South African bitcoin investment firm MTI of using tiered trading scams. MTI CEO Johann Steinberg recently released a statement to MTI users confirming that the organization has met with the South African Financial Services Authority (FSCA). Steynberg argued that MTI did not use tiered trading scams or Ponzi schemes because users still had control over all of their bitcoin.