Federal Court Orders South African CEO To Pay Over $3.4 Billion For Forex Fraud - CFTC's Largest Fraud Scheme Case Involving Bitcoin

<p><span>The Commodity Futures Trading Commission today announced Judge Lee Yeakel of the U.S. District Court for the Western District of Texas entered an order of default judgment and permanent injunction against&nbsp;</span><span>Cornelius Johannes Steynberg&nbsp;</span><span>of Stellenbosch, Western Cape, Republic of South Africa. The order requires Steynberg to pay $1,733,838,372 in restitution to defrauded victims and a $1,733,838,372 civil monetary penalty, which is the highest civil monetary penalty ordered in any CFTC case. This action is also the largest fraudulent scheme involving Bitcoin charged in any CFTC case.</span></p>

Related Keywords

Mississippi ,United States ,Texas ,Alabama ,North Carolina ,Belize ,Brazil ,Stellenbosch ,Western Cape ,South Africa ,Republic Of South Africa ,Federative Republic Of Brazil ,South African ,Cornelius Johannes Steynberg ,George Malas ,Timothyj Mulreany ,Juliac Colarusso ,Paulg Hayeck ,Lee Yeakel ,Division Of Enforcement ,African Financial Sector Conduct Authority ,Financial Services Commission Of Belize ,Trading International Proprietary Limited ,Commodity Exchange Act ,Commodity Futures Trading Commission ,Securities Division ,Alabama Securities Commission ,Us District Court ,Judge Lee Yeakel ,Western District ,Mirror Trading International Proprietary Limited ,Federative Republic ,South African Financial Sector Conduct Authority ,Financial Services Commission ,Texas State Securities Board ,North Carolina Secretary ,Mississippi Secretary ,Danielle Karst ,Africa ,Americas ,Bitcoin ,Cryptocurrency ,Digital Asset ,Eneral ,Arket Surveillance ,Regulation ,