Fraudulent customers in Bangladesh said MTFE attracted investment through high returns on mobile phone apps. It used to collect money from people through its local agents or through mobile financial services. In return, investors will initially receive virtual currency dividends within the app.
Eventually, the company shut down the app, leaving investors in the lurch.
Details about MTFE are limited. Online searches revealed two articles about the company on Digital Journal, a Canada-based global media platform. Published on February 17, 2022, The One stated that MTFE was founded in 2017 and its CEO is Randy Matthew Lane.
Some more information about MTFE was found on a Canadian website called “Company Directory”. Details include business registration number, address and length of operation in Canada. The website lists two directors of MTFE – Randy Matthew Lane and Hongbing Wang – without further details.
*Report rewritten in English by Misbahul Haque
