South-African Liquidator Goes After Australians Who Made Money On The MTI Bitcoin Pyramid Scheme

The Financial Services Board (FSB) has lodged a lawsuit against five persons, including three Australian males who operated under the MTI name.

The FSB says that they assured investors they could quadruple their money within six months by investing into a pyramid scheme with the promise of generating dividends.

But instead of getting rewards, the guys reportedly laundered monies and paid themselves off before fleeing.

The FSB launched a lawsuit against the men at the Durban High Court last week, saying that they had been residing outside South Africa for years without paying their debts and other responsibilities.

South African a liquidator, Afrikaner Broederbond Activity Recovery (ABAR) has launched legal action against two Australians who gained money on the MTI Bitcoin Pyramid Scheme.

The South African firm stated in a statement that it had issued a summons against Erich along with his wife and business partner, Denise, for potentially misappropriating monies from the MTI pyramid scam.

It is thought that the Lee family contributed $1 million on their own behalf, but also got $1 million from Erich.

Despite had no business or economic expertise whatsoever, they have profited immensely from the pyramid scheme, claimed ABAR in its statement.