MTI CEO Johann Steynberg travelled to Brazil in the weeks before MTI finally imploded, and was arrested a year later for allegedly presenting a false passport to police.Steynberg to pay close to $3.5 billion in restitution and penalties over the scheme.
The order requires Steynberg to pay $1.7 billion in restitution to defrauded victims and a $1.7 billion civil monetary penalty, which is“The order finds that, from approximately May 2018 through approximately March 2021, Steynberg, individually and as the controlling person of MTI, engaged in an international fraudulent multilevel marketing scheme to solicit Bitcoin from members of the public for participation in an unregistered commodity pool MTI operated.
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