Ottawa: Metaverse Foreign Exchange Group Inc. (MTFE), a Canadian company based in Markham, Ont., is accused of running a pyramid scheme that allegedly stole over US$2 billion from investors in Sri Lanka and Bangladesh. Despite being registered with Canada’s money laundering watchdog, MTFE’s platform stopped working in August 2023, causing investors’ money to vanish. Sri Lanka’s central bank has labeled MTFE as a pyramid scheme.