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2020 was the year of the scam

FSCA head of enforcement Brandon Topham and Farzam Ehsani, co-founder of VALR, on MTI.

Where’s Johann? Head of enforcement at the Financial Sector Conduct Authority (FSCA), Brandon Topham, explains why MTI founder Johann Steynberg may be in Panama – and not Brazil, as widely believed – and the terrifying speed with which bitcoin and forex investment scams have ripped through SA and then spread to the rest of the world. Farzam Ehsani, co-founder of crypto exchange VALR, weighs in on the impact the MTI scandal has had on the crypto market in SA.

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…he could be in Paraquay, I’ve heard.

“2020 The Year of The Scam”? Nope…every year there are scams. We just gave MTI too much publicity in 2020…

Nevertheless, we are in the Information Age, and I’m convinced that 95% of MTI members (especially those defending it on MW comments section the past year) EXACTLY KNEW IT WAS A PONZI scheme all along.

They merely tried to “play the game” to see if they can get in earlier than others, and win their capital back plus profit from it. Their defending stance (for MTI) was out of vested interest to get other newbies in behind/below them in the scheme hierarchy.

(MW commentators normally have a higher IQ than other general interests, and I don’t insult the IQ of MTI-sympathizers…as 90+% THEY KNEW what game they were trying to profit from. You’re not that stupid?)

I do feel sorry for older pensioners, who invested in MTI genuinely without knowing, based on “trust” recommendations from other family members or trusted friends.

The narrative of “Crypto is the new future” / Fear of staying behind the rest / “FIAT currencies are set to fail” definitely worked into getting suckers to invest.

This will happen again.

And, one gotta love Demo Account software…it is so real, isn’t it? 😉

End of comments.

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