The South African legislation agency Ulrich Roux and Associates has introduced it has dropped Mirror Buying and selling Worldwide as a consumer.
Of their December twenty first open letter, Ulrich Roux and Associates verify
Ulrich Roux and Associates was formally appointed because the authorized consultant of Mirror Buying and selling Worldwide on 28 April 2020.
We had been appointed by Cheri Ward, head of communications and advertising and marketing for MTI, to help MTI with the next:
- Authorized compliance by way of the SA Firms Act 71 of 2008.
- Authorized help with the drafting of contracts and common litigation.
- Authorized illustration pertaining to correspondence obtained and interplay with the FSCA.
On their official Fb web page, Ulrich Roux and Associates outline themselves as divorce and household attorneys.
Past cash, what they had been doing representing a Ponzi scheme with respect to securities litigation is unclear.
As I perceive it, URA was utilized by MTI primarily to silence South Africa primarily based critics. Assume OneCoin’s relationship with the infamous lawfirm Schulenberg & Schenk in Germany. The identical sort of antics.
Anyway, being the authorized face for Mirror Buying and selling Worldwide, which is at the moment imploding, URA seem to have been inundated with queries from determined traders they had been in any other case working towards.
URA made it clear from the outset that we had been in no place to offer potential purchasers with monetary recommendation as as to if they need to make investments with MTI, as we aren’t monetary advisors, nor are we specialists in Bitcoin or another type of cryptocurrency buying and selling.
Evidently Ulrich Roux and Associates don’t have any drawback being paid stolen investor funds to help a Ponzi scheme. Relating to the victims whose cash they had been paid although, they’re on their very own.
URA is by no means affiliated to MTI and might accordingly not be held accountable or answerable for any revenue or loss arising from any funding made, utilizing the MTI platform.
Along with this, we verify that our agency shouldn’t be a member of MTI, nor are we concerned of their inner enterprise construction.
URA is an impartial legislation agency, with the only mandate of offering authorized help to MTI on a contractual foundation, as set out above.
The kicker is URA stating it, as a legislation agency, didn’t put money into MTI. Whether or not any of the corporations particular person attorneys did isn’t clarified.
Actually, from the way in which MTI and its affiliate traders used Ulrich Roux and Associates’ identify, it will seem so.
The next is a screenshot from an MTI investor web page (nonetheless on-line on the time publication):
The highlighted copy reads as follows:
Mirror Buying and selling Worldwide is backed by Ulrich Roux and Associates. Not solely do they help Mirror Buying and selling Worldwide, however they’re additionally happy members.
That is typical of how the connection between MTI and URA was described, each by affiliate traders and MTI itself.
It’s price noting that because the information CEO Johan Steynberg fled South Africa just a few days in the past, promoters of MTI have been deleting their promotional efforts en masse.
Evidently, like Ulrich Roux and Associates, they worry their participation in MTI may result in legal costs.
Whereas URA deny the legislation agency itself invested in MTI, it appears odd they’d let associates market them because the authorized spine of the Ponzi scheme and characterize them as traders slide.
Bear in mind, URA was primarily utilized by MTI so threaten and silence critics. A part of that may have been scouring the web for criticism they might act on.
Naturally they’d have recognized full-well how they had been being represented. Certainly there are a number of situations of URA being requested to make clear their relationship with MTI all through 2020.
As you possibly can see, the entire queries went unanswered.
Solely now, with Mirror Buying and selling withdrawals suspended and legal costs looming, has the legislation agency put out an announcement.
Different factors clarified by URA of their assertion embody:
- confirming Johan Steynberg is now not in South Africa and never contactable (we suspect this final declare is a lie pushed by Cheri Marks);
- MTI associates will not be being paid withdrawals;
- URA itself has obtained “no clear directions” from MTI concerning factors one and two; and
- URA has been in touch with the FSCA concerning their investigation and can proceed to cooperate.
Authorized representatives solely act upon directions of their purchasers and accordingly we’re left with however to withdraw because the attorneys of document for Mirror Buying and selling Worldwide, as we hereby do.
URA winds up by requesting any additional enquiries be directed to MTI company. Which, as I perceive it, will not be responding to affiliate investor enquiries.
What’s that? Shit hit the fan? Thanks for the cash guys, bye!
Replace twenty third December 2020 – Feedback by Ulrich Roux on a current Mirror Buying and selling Worldwide webinar, casts convincing doubt on the claims made by Ulrich Roux and Associates of their withdrawal discover.