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The management and leaders of Mirror Trading International (MTI) have issued a statement to members saying they have lost contact with the company’s chief executive, Johann Steynberg, and are unsure of the status of the scheme’s funds.
“We, as managers and leaders, do not know if our bitcoin is safe,” said MTI.
According to the release, MTI has had trouble obtaining bitcoins from its broker to pay for member withdrawals.
MTI also stated that Johann Steynberg is currently in Brazil and that he purchased a return ticket to São Paulo via Doha with his return flight scheduled for December 22, 2020.
FSCA filed criminal charges against MTI
MTI’s statement to members today follows recent news from the Financial Sector Conduct Authority (FSCA) that it has opened a criminal case against the company.
The FSCA said that MTI and its top management are conducting an illegal operation, are misleading customers and have violated various laws.
He filed the criminal complaint after conduct a simultaneous raid at three ITN-related locations in October: its offices in Stellenbosch and the homes of two members of its leadership.
Before the raid, the FSCA issued a warning in August that people should withdraw their money from the plan.
In response to requests for comment from MyBroadband, the FSCA revealed that the case was opened at the SAPS Stellenbosch Police Station on November 12 and has the CAS case number 245/11/2020.
MTI’s “unregulated broker”
Among the findings published by the FSCA was the corridor that MTI claimed to be using.
MTI said it had gone from using a broker called FXChoice, which is regulated by Belizean law, to an “unregulated broker” called Trade300.
The FSCA said it followed all possible links on the Internet to establish whether Trade300 existed and obtained information that could corroborate MTI’s claims about the large profits the scheme was generating. Could only find a reference to Trade300: your own website.
“The website was, and still is, ‘under maintenance’, and the only reference linked to the website is the name of ‘Joe Steyn’, a known alias of Steynberg,” said the FSCA.
MTI agrees with FSCA’s Trade300 findings
In its statement to members, MTI said that Johann Steynberg’s wife has confirmed that he uses the alias Joe Steyn “all the time, for everything.”
“Management has been in contact with broker Trade300, but now believes that this company is potentially owned and operated by Johann Steynberg,” said MTI.
He added that communication with the broker has been “scarce and not very communicative.”
“As of the writing date of this statement, the bitcoin requested to fulfill withdrawals has not been paid from Trade300 and there is no valid reason for this. More than 34 emails have been sent to Trade300 in the last 6 days to resolve this issue, ”said MTI.
FSCA findings vs MTI statement
In a press release issued on December 17, the FSCA said its investigation into the MTI is nearing completion.
To date, the FSCA said it found that MTI’s CEO, Mr. Cornelius Johannes Steynberg, was actively assisted in operations by Mr. Clynton Hugh Marks and Ms. Cheri Marks.
Clynton Marks’ official title within the organization is Head of the Referral Program. Cheri Marks is head of communications.
However, the statement released today by MTI stated that essentially the only people with control over MTI funds were Steynberg and his wife.
The MTI statement also claims that Clynton Marks provided 400 bitcoins of its own money, over R137 million, to pay for member withdrawals.
“A week after the raid, Johann requested that Clynton Marks give him BTC to pay members who had made withdrawals, as the limitation of withdrawals with the broker remained an obstacle,” the statement said.
Johann also agreed to put 400 BTC in. Clynton then accepted and paid over 400 BTC outside of MTI to Johann on November 1, 11, and 12, 2020, ”said MTI.
“Management has no proof that Johann contributed the amount he declared. Clynton Marks was confident that he would get his Bitcoin back. “
According to MTI, Steynberg alleged that his wife also gave 200 bitcoins for this process.
“The last time we heard from Johann was on Tuesday, December 15, 2020, at 01:51 am,” MTI said.
“The entire management team is cooperating with law enforcement and will continue to do so until this matter is resolved.”
Full MTI statement
MTI’s full statement is included below.
Now Read: The Main People Behind Mirror Trading International
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