CFTC busts a $ 1.7 billion Bitcoin MLM scheme

The Commodity Futures Trading Commission has sued Cornelius Johannes Steynberg & Mirror Trading International Proprietary Limited (MTI) for alleged registration and fraud violations. Steynberg is charged with participating in international multilevel marketing (MLM) fraud scam that generated 29,421 BTC, or more than $1.7 billion, according to the complaint.