Clynton Marks, one of the highest-ranking members in the collapsed Mirror Trading International (MTI) pyramid scheme, has been arrested, reports My Broadband.

This is according to a spokesperson for the scheme’s liquidators, who confirmed that Marks was arrested on 7 March. 

Marks was apparently arrested for contempt of court after failing to adequately answer questions about what happened to funds he withdrew from MTI.

MTI was the biggest pyramid scheme ever operated in SA. Even using the most conservative estimates for the scheme’s value at the time of its collapse, at least R14.7 bn worth of bitcoin flowed through it.

Leaked data showed that Marks occupied two of the topmost positions of MTI’s pyramid.  Curiously, he appeared to be higher up than founder Johann Steynberg.

Steynberg was declared deceased by Brazilian authorities in 2024 after apparently suffering a pulmonary thromboembolism.

Marks’ arrest comes after liquidators seized two multi-million rand properties allegedly acquired with ill-gotten gains.

Last year, the liquidators of MTI obtained an urgent order to provisionally wind up Uprobuzz, a company they allege Marks used as a conduit for his unlawful profits.

Liquidators alleged that Marks milked MTI until the very last moment despite knowing of the imminent collapse of the scheme.

Following Uprobuzz’s liquidation hearing on 9 December 2024, many of Marks’ other valuable assets have also apparently been seized.

Marks corroborated this when My Broadband spoke to him in his holding cell on Monday, saying he was destitute and could not afford a lawyer.

Full My Broadband report