Cheri Marks accuses FSCA of lying about criminal investigation
Suspected MTI co-owner Cheri Marks has accused the FSCA of lying about a Mirror Trading International criminal investigation.
News of a possible criminal investigation into Mirror Trading International broke in October.
The FSCA followed this up yesterday with confirmation ‘a criminal case has been opened by the FSCA with the South African Police Services.’
Marks’ response was made through a serious of recorded voice messages, targeted at MTI affiliate investors (provided courtesy of MyBroadband forums’ readers).
Marks (right with husband Clynton) begins by claiming MTI’s legal team spoke to the FSCA;
and it was confirmed that a formal case has not been opened up against MTI and that the police are not investigating MTI yet.
Marks goes on to claim the FSCA’s press-release is “not true”.
I will not stand for the FSCA blatantly lying to people to purposefully create panic, distrust and (to) sow discord in our business.
Marks states that regulation of securities by the FSCA is “dirty tactics” and, even if MTI is committing securities fraud in South Africa, ‘there is nothing else they (the FSCA) can do’.
Marks does not address the FSCA finding no evidence of trading taking place or external revenue being used to pay MTI withdrawal requests.
Instead she claims the FSCA regulating securities fraud as they are required to by law, constitutes an “autocratic dictorialship”.
Supposedly there’s an official MTI response coming. We expect it will contain more baseless denials and the same regurgitated debunked claims of trading.
It’s important to note that all Mirror Trading International has to do to prove they are legitimate, is register with the FSCA and provided periodic audited financial reports.
They haven’t in over a year of illegally soliciting investment, because obvious Ponzi is obvious.
Looking forward it’s probably not worth the FSCA’s time responding to Cheri Marks’ ranting. Pending the conclusion of their investigation, stay tuned…
Update 19th December 2020 – MyBroadband forum readers have confirmed there is in fact a Mirror Trading International criminal case.
The case number is “245/11/2020” and is being handled by the Stellenbosch PD.
Writes MB forum member “Snyper564“;
Contacted (removed) – SAPS Stellnbosch
They confirmed this case has been transferred to Cape Town – Special crimes/special investigation unit.
There haven’t been any further updates from either the FSCA or MTI as I’m writing this.
Lol imagine if this was going down in the US.
FBI! Open up!
Happy Friday! Cheri sounds hysterical! And on the same day we can all dial in to hear Greenwood.
So let me get this straight.
Cheri Marks has just said the financial authority that governs, oversees and regulates any and all financial institutions in South Africa and that has a clean record of doing so, has lied about opening a criminal charge against MTI?
Does she realize that the moment they got the warrant to raid their house there was already a legal opinion that MTI is breaking the law?
And then to put the cherry (or should I say Cheri) on top. She has the audacity to state that even if they are illegal, the FSCA can’t do anything against them.
What the hell kind of a assurance to MTI’s investors is that!!!?
Dear MTI disciples. If you believe the crap that she is spewing, then you were exactly the target market that they wanted to rip off.
Article updated with confirmation of MTI criminal case.
No point in having a hysterical tirade against an accusation whilst the website is not functioning correctly – that only adds to the credibility of the accusations!
That must be why when logging onto MTI there is either a notice “could not establish a connection” and if one gets into their back office and attempts to make a wallet withdrawal the same notice appears.
That’s probably why they were linked to the Dawid Dorfling and BTC TBC as well.
I understand the risks of investing in Things like this and yes I did.
Why do we have to have criminals stealing people retirement money. To gain what. Enrich themselves and get away with It like Dawid Dorfling did.
These people are despicable and should be handed to the actual investors for them to be dealt with by the people they scammed.
“Skelmbosch”, LOL! A “skelm” is a crook. Stellenbosch has been home to multiple Sharemax, Steinhof, MTI itself, etc
Ohnoes! Looks like I got caught with SA slang 😀