The South Africa Financial Services Conduct Authority (FSCA) and the members of MTI members meeting are announced by Johann Steynberg CEO of MTI. Steynberg, who had given a restraining request close by three others who resides in the United States. He also declares that he is in correspondence with Trading System Synthesis and Boosting (TSSB) on this matter.
According to recent reports, a South African crypto website is not running a Ponzi scheme. The members of the organization handle the account can control their Bitcoin totally. The report was carried by an organisation namely Global Crypto. Johann Steynberg mentioned in his letter that “Another important point which differentiates MTI from Ponzi’s and scams is that members have full control over their funds (bitcoin) at all times. Members can add or withdraw their funds (bitcoin) at any time, with no complications and no fees.”
Johann Steynberg organization has more than 75,000 members and he claims that none of them has ever face any complication or failed to withdraw their Bitcoins whenever they wanted to debit. However, the allegations on the members of TSSB doest not directly addresses the TSSB’s core.
After all this TSSB cease and desist order claims that the MTI and its U.S.-based affiliates are operating the unregistered businesses and violated the state’s laws. In addition, TSSB also alleges that MTI is carrying out an international multilevel marketing fraud. The salesman recruited by the organisation who do not have any license for the securities trading.
Johann Steynberg firmly states that in the upcoming tie period, “great emphasis on engaging with and working with any regulator with a clear purpose at all times.” He also admits that MTI has a demonstrated and notorious reputation for scams and Ponzi schemes even after the organisation was working with them from 15 months. Steynberg wants that his organisation to be, “fully compliant as a professionally managed company” delivered to his stakeholders for the future.