South Africa’s legal system continues to shield Mirror Trading International scammers. The latest has seen requested second depositions of suspected owners Clynton and Cheri Marks denied. The same has been denied for the Ponzi scheme’s top earners. Following one round of depositions, permission to compel attendance at a second round was denied. Those Mirror Trading […]
Mirror Trading International scammers shielded by court Read More »
A December 2020 FXChoice support ticket reveals Johann Steynberg, or someone impersonating him, attempted to access 1282 BTC from MTI’s then seized account. The ticket also reveals Steynberg evidently had a warped understanding of securities regulation in the US. FXChoice is a third-party trading broker with no known direct ties to Mirror Trading International. Mirror
Johann Steynberg tried to access $59.8 mill in Dec 2020 Read More »
Following Mirror Trading International’s collapse in late 2020, CEO Johann Steynberg fled South Africa for Brazil. Authorities eventually caught up with Steynberg and arrested him late last month. Steynberg managed to evade authorities on account of him having at least three fake IDs. We now also now Steynberg spent 2021 living on stolen bitcoin and
Johann Steynberg spent 2021 banging a Brazilian mistress Read More »
Brazilian authorities have arrested Mirror Trading International CEO Johann Steynberg. Steynberg was picked up Goiania on an international arrest warrant issued by Interpol. As reported by UOL, quoting an local police officer, Brazilian authorities had been tracking Steynberg (right) for some time. After an intense work of identification and follow-up, and with the help of
Mirror Trading International’s Johann Steynberg arrested in Brazil Read More »
In the absence of regulatory action, the Mirror Trading International liquidation process continues. The latest is a confusing series of events that saw victims claims universally rejected. Jan Vermeulen of MyBroadband has pieced together what happened at the first meeting of Mirror Trading International creditors. The issue appears to be the volume of creditor claims.
Mirror Trading International liquidators to validate victim claims Read More »
The hearing to decide official classify Mirror Trading International as a pyramid scheme has been delayed. What was a relatively straight-forward case, albeit slow-moving, has since devolved into a circus. At a hearing on Wednesday September 8th, no less than twenty lawyers attended proceedings. As reported by Jan Vermeulen at My Broadband, most of the
Mirror Trading International pyramid hearing delayed to 2022 Read More »
Mirror Trading International’s liquidators have confirmed the existence of a US investigation into Mirror Trading International. The news follows months of inaction by South African authorities. Heading up the US investigation are the FBI. US authorities purportedly began to look into MTI after being contacted by US victims. As reported by Bloomberg, quoting an email
US investigation into Mirror Trading International confirmed Read More »
Seven months after raiding Mirror Trading International’s South African offices, the FSCA has announced its intent fine the company. Oh my god just do it already… As reported by MyBroadband, the FSCA has confirmed “MTI violated several different laws in three distinct periods of its existence.” The FSCA puts forth MTI committed securities fraud between
FSCA announces they “might” fine MTI $6.9 million Read More »
Mirror Trading International’s liquidators have tracked down another 8000 bitcoin. Whether liquidators will be able to recover the identified 8000 BTC is unclear. As per a July 2nd Moneyweb report citing correspondence with the MTI liquidators; An additional 8 000 bitcoin at current market prices is worth about R4 billion. Liquidators believe they will be able
Another 8000 BTC tracked down by MTI liquidators Read More »
In the absence of regulatory action against the Mirror Trading International Ponzi scheme, civil liquidation proceedings continue. The latest update is a final liquidation order, granted June 30th. The final liquidation order follows a June 15th hearing, wherein judgment was reserved. If you’re like me and are unfamiliar with South African liquidation law, a final
Mirror Trading International final liquidation granted Read More »
