It’s been a terrible week for global MLM regulation. First we had Dubai release someone who had an Interpol issued arrest warrant out on them. The worst of it is Dubai hadn’t yet bothered to arrest the perp, they’d voluntarily turned themselves in. Then we had Bulgaria, home of the still very much active OneCoin Ponzi [Continue reading…]
Mirror Trading International @ BehindMLM
Mirror Trading International liquidators have given victims a recovery deal. The deal, which appears to have received court approval, will see victims who accept paid “a portion of their claims”. While the court has approved the deal, it remains contingent on Mirror Trading International being declared an illegal scheme. That hearing was supposed to begin [Continue reading…]
When Phillip Botha was summoned to appear before an enquiry held by MTI liquidators, he decided not to turn up. We’re not sure when, but Botha has since been arrested over his decision.
An “MTI Circular” has provided further insight into the recent February 4th second meeting of MTI creditors.
And now, an update on Mirror Trading liquidation proceedings out of South Africa: *checks notes* every MTI victim claim has been rejected the only claim approved was filed by JNX Online, a company belonging to MTI founder Johann Steynberg South African authorities continue to do nothing The shitshow continues…
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.
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.
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 [Continue reading…]
Brazilian authorities have arrested Mirror Trading International CEO Johann Steynberg. Steynberg was picked up Goiania on an international arrest warrant issued by Interpol.
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.