The CFTC said a federal judge ordered Mirror Trading International Proprietary (MTI) to pay more than $1.7 billion in restitution for forex fraud, resolving the CFTC’s enforcement case against the company.
- Order finds the South African company liable for fraud in connection with retail foreign currency transactions, fraud by a commodity pool operator, registration violations, and failure to comply with CPO regulations
- Order finds that from around May 2018 through March 2021, Steynberg, individually and as the controlling person of MTI, engaged in an international fraudulent multilevel marketing scheme to solicit Bitcoin from people for participation in an unregistered commodity …
