Mirror Trading International was founded and operated by Cornelius Johannes Steynberg, who had been on the run from South African police until recently being detained in Brazil on an INTERPOL warrant. The CFTC is seeking full restitution, disgorgement, and bans from future trading.
Mirror Trading International charged after $1.7 billion fraud
Mirror Trading International was a South African Bitcoin pool operator that advertised to investors that it would generate 10% returns a month, with bonuses for referring friends and family. In reality, the project was a global pyramid scheme that lied to investors about the existence of a "trading bot", falsified account statements, engaged in no profitable forex trading, and used participants' deposits to pay out "returns" to other investors. The company operated from May 2018 until its bankruptcy and liquidation in early 2021, pulling in more than $1.7 billion.