Michael Sloggett, a cryptocurrency promoter previously associated with MTC Education, has been sentenced to two years and nine months in prison in Australia over his involvement in transactions worth approximately $2.61 million connected with the crypto trading operation Modern Wall Street.
According to reports published on September 17, 2026, Sloggett received a 33-month prison sentence, with a minimum of five months to be served in custody.
The sentence follows criminal proceedings dating back several years and concerns Sloggett’s handling of millions of dollars used for cryptocurrency purchases.
What was Sloggett accused of?
Sloggett was arrested in 2021 in connection with cryptocurrency money laundering offences arising from approximately $2.61 million in transactions linked to Modern Wall Street, described in reports as a crypto trading scheme.
According to reporting on the case, Sloggett failed to properly identify and maintain records concerning the individuals for whom cryptocurrency purchases were being made.
He ultimately pleaded guilty to two Commonwealth offences involving dealing with money reasonably suspected of being proceeds of crime totalling $100,000 or more, including aiding or abetting such conduct.
Sloggett also pleaded guilty to separate state-level drug offences relating to testosterone and human growth hormone discovered during a search of his home.
Another individual connected with the money laundering conduct, Jamie Daniel Feiffell, reportedly received a suspended 12-month sentence in December 2025.
Did the court find that Sloggett knew the money came from crime?
This is an important distinction in understanding the judgment.
Following his sentencing, Sloggett publicly emphasised that prosecutors did not allege that he actually knew the specific origin of the money.
That, however, does not mean that the court found there was nothing suspicious about the funds.
According to the reported remarks of the sentencing judge, Sloggett was not sentenced on the basis that he knew the origin of the money, but the circumstances were such that it was reasonable for him to suspect that the funds represented proceeds of crime.
This distinction reflects the offences to which he pleaded guilty: the relevant issue was not whether he had proven knowledge of the precise criminal origin of the funds, but whether he dealt with money in circumstances giving rise to a reasonable suspicion that it represented proceeds of crime.
What is the connection with MTC Education?
Sloggett later became associated with MTC Education, where he was presented as Chief Visionary Officer.
MTC Education offered monthly memberships connected with a multi-level marketing opportunity. Sloggett had also previously been active in the MLM industry, including through WorldVentures.
The criminal proceedings resulting in his latest sentence did not arise from MTC Education itself. Instead, they concerned the earlier transactions associated with Modern Wall Street.
That distinction is important when considering the significance of the sentence.
At the same time, Sloggett’s subsequent role in promoting crypto and MLM-related opportunities makes the case relevant to investors assessing the background of individuals presenting or promoting financial opportunities online.
What is happening with MTC Education?
Questions have also recently emerged regarding MTC Education’s current level of activity.
According to BehindMLM, web traffic to the platform has fallen significantly, while its social media activity has largely stopped. The report states that MTC Education’s website remains online, but available indicators suggest that the business may now have little active participation.
BehindMLM previously raised concerns regarding MTC Education’s business model, particularly whether revenue was being generated primarily through monthly payments made by participants rather than genuine retail activity.
There does not, however, appear to be a reported court or regulatory finding establishing that MTC Education itself was involved in the offences for which Sloggett has now been sentenced.
Why does this case matter?
The Sloggett case highlights an issue that frequently appears in cryptocurrency-related investigations: individuals handling investor funds or converting substantial amounts into cryptocurrency can face criminal liability even where prosecutors do not establish that they knew the precise origin of every payment.
The surrounding circumstances, transaction patterns, amounts involved and failure to conduct appropriate checks or maintain adequate records can all become important when authorities investigate the movement of potentially illicit funds.
For investors, the case also demonstrates why the background of individuals promoting cryptocurrency, trading and investment opportunities can be relevant when assessing a platform.
Previous business activities, regulatory history and criminal proceedings involving promoters or senior figures should be considered alongside the investment opportunity itself.
Where funds have already been transferred through a crypto-related platform, investors should preserve transaction records, wallet addresses, transaction hashes, communications with promoters and any documents identifying the persons or entities that received or processed their money.
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