Mirror Trading International @ BehindMLM

CFTC scores Entry of Default against MTI’s Johannes Steynberg

At the request of the CFTC, an Entry of Default has been recorded against Mirror Trading International CEO Johannes Steynberg.

~90% of MTI investor accounts were just email addresses

Of the 300,000 investor accounts Mirror Trading International boasted, around 90% were just email addresses. That is to say, Mirror Trading International only had around 30,000 actual investors.

MTI liquidation devolves into fight with SA government

The liquidation of Mirror Trading International has devolved into a fight between liquidators and the government.

High Court provisionally approves sorting of MTI investors

While South Africa’s authorities continue to do nothing, civil Mirror Trading International liquidation proceedings continue. The latest is a ten-page provisional order, defining actual victims from the scheme against net-winners.

CFTC drops Hague service on Steynberg, now publication

After signalling its intent to serve Johannes Steynberg through the Hague Convention last month, the CFTC has now asked for permission to effect alternate service. If granted, the CFTC will serve Steynberg via a Texas newspaper and the Supreme Court of Texas’ website.

CFTC to serve MTI’s Johannes Steynberg thru Hague Conv.

The CFTC has informed the court it intends to serve Johannes Steynberg through the Hague Convention.

SA govt looking to steal recovered MTI Ponzi funds

South Africa attempting to regulate MLM Ponzi schemes through a broken liquidation system is one of the dumbest things I’ve ever had to report on. In the latest show of stunning incompetence, South Africa’s Revenue Service, the country’s tax regulator, is looking to steal the entire balance of recovered funds.

Johann Steynberg sued by CFTC over MTI fraud ($1.7B Ponzi)

Mirror Trading International CEO Johan Steynberg has been sued by the CFTC. According to the regulator, Mirror Trading International was a $1.7 billion dollar Ponzi scheme.

Johann Steynberg impregnates mistress to dodge extradition?

South African authorities have finally provided an update on Johann Steynberg’s Brazilian extradition. The bad news? Steynberg is going to waste everybody’s time fighting the inevitable. The good news? Get an extra large serving of popcorn ready.

Mirror Trading International insiders “summoned” by liquidators

There doesn’t appear to be any cohesion when it comes to Mirror Trading International’s liquidation proceedings. Back in February nobody was recovering anything except owner on paper Johann Steynberg. Then, on the assumption Mirror Trading International would be declared an “illegal scheme” (which for some reason hadn’t happened yet despite the FSCA stating publicly MTI [Continue reading…]