MTI kingpin Johann Steynberg has reportedly died in Brazil after a massive heart attack. He was under house arrest awaiting his extradition hearing after he was caught using forged documents when state police asked for his identification in December 2021., reported yesterday that Steynberg’s lawyer, Thales Jayme, confirmed that Steynberg, 41, died on Monday on the farm where he lived in Pirenópolis since November last year when he was released under house arrest.
Investors could earn even bigger returns if they referred other investors and thousands of people invested in MTI, but the scheme started to collapse when the Financial Sector Conduct Authority started investigating the scheme and the group Anonymous ZA hacked MTI. Steynberg then allegedly moved the funds to a new broker, Trade 300, but the FSCA later found that Trade 300 was a fictitious platform Steynberg created. The company was provisionally liquidated at the end of 2020 and finally liquidated on 30 June 2021.
She also found that he did not transfer bitcoin deposited by investors held in a pooled account at FX Choice to Trade 300. It follows that the representations made by Steynberg and the management of MTI in this regard were false and that in her view, these false representation on a balance of probabilities showed that the business of MTI was fraudulent, she said in the judgment.