Johann Steynberg, the former CEO of the now-defunct Mirror Trading International (MTI), reportedly passed away in Brazil under circumstances tied to his legal troubles.
Johann Steynberg dies: What’s the cause of death?
Steynberg died from a pulmonary thromboembolism while under house arrest on a farm in Pirenópolis, Goiás, according to Brazilian news outlet O Popular.
His death occurred amid preparations for his extradition hearing.
Previously, Steynberg was fined roughly R595,000 for using forged documents during a police identification check, which had led to his initial arrest.
Johann Steynberg biography
Born on 13 July 1983, Johann Steynberg was the CEO and the only listed director of MTI, a cryptocurrency trading platform declared a pyramid scheme by a South African High Court.
The platform, which launched in 2019, promised substantial returns through an automated trading bot.
MTI came under intense scrutiny for operating as a fraudulent scheme, which led to its collapse in December 2020 after Steynberg disappeared in Brazil.
In 2021, MTI was placed into final liquidation, and Steynberg was arrested in Brazil for using forged identity documents.
The scheme affected about 100,000 people across 140 countries, involving significant financial losses and leading to global warnings against the company.
Reactions to Steynberg’s death
The death of Johann Steynberg has elicited a mix of reactions from various stakeholders.
Here are some of the reactions we picked:
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