Mirror Trading International: News Update December 2020

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There has been quite a bit of news going around in last week in regards to Mirror Trading International and I have already cover couple of them.

I have been waiting to gather more information for you and just put it as a digest in a simple post and a YouTube Video.

So far in my previous posts I told that the Mirror Trading International is under criminal investigation by FSCA.

Since then I have been receiving info and updates from the Mirror Trading International (MTI) members.

Firstly, I have been informed that Johann Steynberg Mirror Trading International CEO has been missing.

He has left South Africa on the 3rd of December for business. There was regular contact throughout the days with Johann providing the MTI with updates and information.

On Monday 14th of December Johann had been processing withdrawals trying to clear the backlog. Nerina (Johann’s wife) then received a communication to say he was going for some dinner & would later continue with the withdrawals. (He had processed over 3000 withdrawals prior to this message to Nerina)

Here is the actual email that have been sent to the members:

[Forwarded from MIRROR TRADING INTERNATIONAL]
Dear Members
The last two weeks have been very difficult, and the pressure is not lessening.
Johann Steynberg our CEO left South Africa on the 3rd of December for business. There was regular contact throughout the days with Johann providing us with updates and information.
On Monday 14th of December Johann had been processing withdrawals trying to clear the backlog. Nerina (Johann’s wife) then received a communication to say he was going for some dinner & would later continue with the withdrawals. (He had processed over 3000 withdrawals prior to this message to Nerina)
Approximately 13 hours later Clynton Marks and Nerina (Johann’s wife) received an automated emergency email to say that Johann had not logged into the MTI system for 12 hours. This security protocol email provided critical info for the team to start the process of working without Johann. (Up till that point Johann was the only one with authority to deal with the broker & technical team).
Up till today we have not heard from Johann again. We are extremely worried and a missing persons case has been filed.
Since that mail was received the management team have been following protocols as laid out in the email, this includes working with the technical and broker teams.
As it stands today the technical team is back on track and actively assisting us. We have provided the requested documents to the broker to establish our ownership of the account at this stage. This is a lengthy process. Unfortunately, being a weekend, we cannot expect further communication from the broker until Monday.
During this difficult transition, we appreciate the understanding of the majority of MTI’s loyal members. We ask that there is no speculation or rumours spread, and we will share the facts as we get them.
Kind regards
MTI Management
Link Here

By the look of it, he is on the run and is withdrawing all the monies.

It looks like that he is now a person of interest for IRS.

CORNELIUS JOHANNES STEYNBERG also known as JOHANN STEYNBERG also known as JOE STEYN:Steynberg is a person of interest in an investigation involving the Mirror Trading International (MTI) crypto trading scheme.His current whereabouts are unknown.Any information relating to his current location would be appreciated and treated in the strictest of confidence. Contact IRS with any information with the option of remaining anonymous at
Link Here

Now the next update is about their Lawyers.

Mirror Trading International Attorneys Withdraw

The South African law firm Ulrich Roux and Associates has announced it has dropped Mirror Trading International as a client.

That is kind of a big blow since MTI was saying they are going to fight FSCA.

In their December 21st open letter, Ulrich Roux and Associates confirm
Ulrich Roux and Associates was formally appointed as the legal representative of Mirror Trading International on 28 April 2020.
We were appointed by Cheri Ward, head of communications and marketing for MTI, to assist MTI with the following:

1. Legal compliance in terms of the SA Companies Act 71 of 2008.
2. Legal assistance with the drafting of contracts and general litigation.
3. Legal representation pertaining to correspondence received and interaction with the FSCA.

On their authority Facebook page, Ulrich Roux and Associates characterize themselves as separation and family legal advisors.

Past cash, what they were doing speaking to a Ponzi plot as for protections prosecution is hazy.

Anyway, being the legitimate face for Mirror Trading International, which is as of now collapsing, URA seem to have been immersed with inquiries from frantic financial specialists they were generally neutralizing.

URA made it clear from the outset that we were in no position to provide potential clients with financial advice as to whether they should invest with MTI, as we are not financial advisors, nor are we specialists in Bitcoin or any other form of cryptocurrency trading.

Clearly Ulrich Roux and Associates have no issue being paid taken from investors assets to help a Ponzi plot. With regards to the casualties whose cash they were paid however, they’re all alone.

URA is in no way affiliated to MTI and can accordingly not be held responsible or liable for any profit or loss arising from any investment made, using the MTI platform.
In addition to this, we confirm that our firm is not a member of MTI, nor are we involved in their internal business structure.
URA is an independent law firm, with the sole mandate of providing legal assistance to MTI on a contractual basis, as set out above.

The kicker is URA expressing it, as a law office, didn’t put resources into MTI. Regardless of whether any of the organizations singular lawyers did isn’t explained.

The highlighted copy reads as follows:

Mirror Trading International is backed by Ulrich Roux and Associates. Not only do they support Mirror Trading International, but they are also satisfied members.

This is ordinary of how the connection among MTI and URA was depicted, both by offshoot financial specialists and MTI itself.

It’s important that since the news CEO Johan Steynberg fled South Africa a couple of days back, advertisers of MTI have been erasing their limited time endeavors as once huge mob.

It appears to be that, as Ulrich Roux and Associates, they dread their cooperation in MTI could prompt criminal accusations.

While URA deny the law office itself put resources into MTI, it appears to be odd they’d let subsidiaries market them as the legitimate spine of the Ponzi plot and speak to them as speculators slide.

Keep in mind, URA was fundamentally utilized by MTI so undermine and quiet pundits. Some portion of that would have been scouring the web for analysis they could follow up on.

Normally they’d have realized without a doubt how they were being spoken to. In reality there are a few occurrences of URA being approached to explain their relationship with MTI all through 2020.

As should be obvious, the entirety of the inquiries went unanswered.

Just now, with Mirror Trading withdrawals suspended and criminal accusations approaching, has the law office put out an articulation.

Different focuses explained by URA in their explanation include:

affirming Johan Steynberg is not, at this point in South Africa and not contactable (we presume this last case is obviously false pushed by Cheri Marks);
MTI subsidiaries are not being paid withdrawals;
URA itself has gotten “no reasonable directions” from MTI with respect to focuses one and two; and
URA has been in contact with the FSCA with respect to their examination and will keep on collaborating.

Legal representatives only act upon instructions of their clients and accordingly we are left with but to withdraw as the attorneys of record for Mirror Trading International, as we hereby do.

URA wraps up by mentioning any further enquiries be coordinated to MTI corporate. Which, as I get it, are not reacting to subsidiary financial specialist enquiries.

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