The US Commodity Futures Trading Commission (CFTC) has ordered Mirror Trading International (MTI) to pay over $1.7 billion in restitution for defrauding victims. The CFTC also imposed permanent trading and registration bans on MTI for violating regulations. MTI founder and CEO Cornelius Johannes Steynberg was also issued a default judgment and ordered to pay over $1.7 billion in civil monetary penalty. The scheme involved soliciting Bitcoin from people for participation in an unregistered commodity pool. The CFTC has been fighting against fraudsters who victimized over 23,000 individuals.
AI Sentiment: Negative