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South African Police suspects a Ponzi scheme in BTC Global scam.


BTC Global, a global investment group which deals in Bitcoin has lost $50 million and the investors are in an obvious ruin.

Sunday Times reported that nearly 27,500 people have been investing in the group who belonged to not just South Africa but also Australia, U.S. Some of the investors of BTC Global, have expressed their resentment in loosing an enormous amount of $117,000 and are seeking for ways to get back their money.

An eminent person from Priority Crime Investigation of South Africa has stated that the crime sector is investigating the event and is speculating it to be a Ponzi scheme. He did mention that the BTC group was under supervision for it’s failure in abiding by the Financial Advisory and Intermediary Services Act.

With further untangling of the incident, came the news of the Fund manager, Steven Twain’s elopement on February 18th. This accusation was put forward by the controllers of BTCS official website and nobody has been able to get in touch with him ever since then.

A post on their site stated:

“Steven did not acknowledge receipt of the information. Steven has not contacted anyone in leadership or admin team. No payments have been made by Steven … If anyone has ANY information on how we can get in contact with him please get in touch and let us know”.

Accusations of BTC Global being a Ponzi scheme has been rumored before as well. Recent post by Jessie Holmes even claimed that there’s nobody by the name of Steven Twain. A series of death threats have been reported by the involved individuals after the group shattered down to ruin. A protection order has been granted for Cheri Ward after a violent show of accusation was publicly stated by another person. She has also reported criminal charges against another person for getting in incessant death threats from him.

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