The Management of Mirror Trading International (MTI) – a Bitcoin Trading Company, have issued a statement to Participants stating that, they have lost contact with the company’s CEO, Johann Steynberg, and that they are uncertain about the status of the scheme’s funds.
“We as management and leaders do not know if our bitcoin is safe,” MTI stated.
According to the statement, MTI has struggled to obtain bitcoin from its broker with which to pay members’ withdrawals and also stated that Johann Steynberg is currently in Brazil, and that he bought a return ticket to São Paulo via Doha with his return flight scheduled for 22 December 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 senior management are conducting an illegal operation, are misleading clients, and have contravened several laws.
It filed the criminal complaint after conducting a simultaneous raid on three locations related to MTI in October — its offices in Stellenbosch, and the homes of two members of its leadership.
Prior to the raid, the FSCA issued a warning in August that people should withdraw their money from the scheme.
In response to requests for comment from MyBroadband, the FSCA disclosed that the case was opened at SAPS Stellenbosch police station on 12 November, and has the case number CAS 245/11/2020.
MTI’s “unregulated broker”
Among the findings published by the FSCA was with regards to the broker MTI claimed to be using.
MTI said that it had moved from using a broker called FXChoice, which is regulated under Belize law, to an “unregulated broker” called Trade300.
The FSCA said that it followed all possible links on the Internet to establish whether Trade300 existed and obtained information that might corroborate MTI’s claims of the large profits the scheme was generating. It could only find one reference to Trade300 — its 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 the broker, Trade300, but now believe this company is potentially owned and operated by Johann Steynberg,” MTI stated.
It added that communication with the broker has been “sparse and unforthcoming”.
“To date of writing this statement the bitcoin requested to honour withdrawals has not been paid out from Trade300 and there is no valid reason for this. Over 34 emails have been sent to Trade300 in the last 6 days to resolve this matter,” MTI said.
FSCA findings vs MTI statement
In a press release issued on 17 December, the FSCA said that its investigation into MTI is nearing completion.
To date, the FSCA said it found that the CEO of MTI, Mr Cornelius Johannes Steynberg, was actively assisted in the operations by Mr Clynton Hugh Marks and Mrs Cheri Marks.
Clynton Marks’ official title within the organisation is head of the referral programme. Cheri Marks is head of communications.
However, the statement issued by MTI today claimed that essentially the only people with control over MTI’s funds were Steynberg and his wife.
MTI’s statement also asserts that Clynton Marks provided 400 bitcoin of his own money — over R137 million — to pay member withdrawals.
“A week after the raid, Johann requested that Clynton Marks give him BTC to pay members that had made withdrawals as the limitation on withdrawals with the broker was still a hinderance,” the statement said.
“Johann agreed to put in 400 BTC as well. Clynton then agreed and paid over 400 BTC of his own outside of MTI to Johann on the 1st, 11th, and 12th of November 2020,” said MTI.
“Management has no proof that Johann did contribute the amount he stated. Clynton Marks had full confidence that he would get his Bitcoin back.”
According to MTI, Steynberg alleged that his wife also gave 200 bitcoin for this process.
“The last time we heard from Johann was Tuesday, 15 December 2020, at 01:51am,” MTI stated.
“The whole management team is co-operating with law enforcement and will continue to do so until this matter is resolved.”
Full MTI statement
The full statement from MTI here.
Here’s the reaction from Charles Awuzie of Gemsbok Group on Mirror Trading International (MTI) – a Bitcoin Trading Company whose CEO has ran away from South Africa with over 1 Billion Rands;
My Statement on MIRROR TRADING INTERNATIONAL – MTI…
Yesterday, we read the sad news of a Nigerian teenager who committed suicide after investing 300 million Naira, almost a million dollars, in a forex trading company.
Today, over 200, 000 South Africans woke up to the news that the CEO of a Bitcoin trading company where they had invested over 1 Billion Rands has ran away from South Africa, the same way Bushiri ran away because of failed investments.
Here’s my statement – IF YOU ARE NOT THE PERSON TRADING DIRECTLY IN FOREX OR CRYPTOCURRENCY, DON’T Invest HUGE SUMS IN 3RD PARTY TRADING. IT USUALLY ENDS IN TEARS 😭.
Stop the “I want my money to work for me mentality”… You are young… You should be working with your money…. Even if you want to pursue forex trading as a business career, then learn how to trade by yourself… That’s what I did… A few of you here who knew me back in Okigwe may remember that I was one of the first people in Eastern Nigeria to make tens of thousands of dollars in Forex as a Varsity student… My friend Anyanwu Stanley Anayochi who is now based in the USA 🇺🇸, can still remember how fat my online account was many years ago in Okigwe. In fact, in the whole city of Okigwe, I was number 1 in forex and people came from Umuahia and Owerri etc to learn from me. However, I counted some losses and stopped trading when fraud crept in.
So yes, forex trading is not a scam but those asking you to invest into their trading company may be scammers. Do you understand?
However, if you honestly want to pursue a real business, I will always advise you to Put your money in a company which sells Physical Products.
I advised most of the people who lost their money to put that money in physical products like Gemsbok Products etc, they thought I was busy marketing my products… They don’t even know why I personally diversified into PHYSICAL PRODUCTS.. They may not also know why Facebook now sells Physical Products like the Fb occulus…. They don’t know why most Tech companies now sell Physical Products….. So when I advise them, their small minds tell them to ignore Charles Awuzie and do it the easy way. Listen, any easy way to wealth will end in tears.
MTI’s CEO is now on the run and 1 Billion Rands has gone under the Carpet. His only response is a screenshot of a conspiracy theory that Freemasons are after him. But can I be honest with you? The CEO is a Stellenboch top business man. Those in South Africa know that Stellenboch is the headquarters of capitalist mafianism and MTI cannot be running away from ordinary Freemasons when they themselves operated from Stellenboch for months. So his excuse is mere conspiracy theory to cover a bigger agenda.
Beware of investing your money on platforms you don’t control…. Invest on platforms where you have a certain level of control and then work your way up.
Think on this…