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Coenraad “Coenie” Botha’s CBI Global Ponzi scam has failed again again.

Rather than just admitting that it ran out of money, as many Ponzi schemes do, Botha is blaming South African regulators.

Botha (right) informed CBI Global investors in a November 23rd message;

We will be shutting exchange facilities in South Africa at the end of November.

This implies that effective of November 30th, we will no longer be able to purchase and/or trade CBI, BTC, and ETH using our South African bank account.

Botha claimed that this decision was taken because “several regulators” are looking into him and his Ponzi scheme.

This is due to ongoing investigations into our presence and operations in South Africa, where there are no crypto currency rules in existence.

As previously indicated, this is most certainly an exit scam, but it is an example of securities fraud denial by MLM crypto fraudsters.

Securities fraud with bitcoin is no different from securities fraud involving any other cash or asset.

CBI Global’s second failure comes after Botha disabled withdrawals in July.

Botha’s initial Uhuru Tribe Ponzi scam was revived by CBI Global.

Botha believes CBI Global will resurface in the future as a decentralized Ponzi scheme.

What happens to your CBI account now?

NOTHING HAS CHANGED! The only difference is that we have stopped our exchange facility and no longer purchase and sell cryptocurrency in South African jurisdiction.

All of our products on CBI Global remain operational, and you may continue to engage in them.

We are transitioning to make all of our goods decentralized, which implies that no third parties will be involved.

This is obviously nonsense, given that CBI Global is owned and run by Botha, making it highly centralized.

If South African authorities are looking into Botha and CBI Global, nothing has been made public.

Botha operates his Ponzi scam from Namibia. The majority of visitors to CBI Global’s website in June 2021 came from Namibia.

Since then, Namibia’s recruitment of foolish investors has ceased.

At the time of publication, Alexa attributed 100% of CBI Global’s website traffic to South Africa.

Namibian authorities have thus far showed little interest in pursuing Botha.

In South Africa, I have less trust in any inquiry than I have in Botha’s fourth dEcEnTrAlIzEd Ponzi reboot following the MTI fiasco.

CBI Global has fallen again, as of March 16th, 2022.

Coenie Botha has directed that money be laundered through DafriBank through associates.

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