mirror trading international (mti)

  1. Jan

    CFTC and MTI liquidators settle, file consent order over $1,733,838,372 claim

    Liquidators of South Africa's biggest pyramid scheme in history strike deal with US over R33-billion claim The U.S. Commodity Futures Trading Commission (CFTC) has reached an agreement with the South African liquidators of Mirror Trading International not to pursue a $1,733,838,372 (R33...
  2. Jan

    Former Mirror Trading International CEO Johann Steynberg found guilty for uttering in Brazil, appeals

    Boss of South Africa's biggest pyramid scheme in history found guilty in Brazil — fined R595,000 Mirror Trading International (MTI) CEO Johann Steynberg has been found guilty in Brazil of using a forged identity document, with the judge handing down an aggravated sentence. In addition to...
  3. Jan

    CFTC gets $3.47 billion order against MTI boss Johann Steynberg

    Mastermind of South Africa's biggest pyramid scheme in history ordered to pay R63.6 billion Mirror Trading International (MTI) CEO Johann Steynberg has been ordered to pay close to $3.5 billion (R63.6 billion) in restitution and penalties in the United States. The Commodity Futures Trading...
  4. Jan

    Acting judge Alma de Wet officially declares MTI a pyramid scheme

    Mirror Trading International declared a pyramid scheme Acting high court judge Alma de Wet has finally declared Mirror Trading International (MTI) an unlawful scheme. “MTI’s business clearly amounted to an unlawful ponzi-scheme, i.e. a fraudulent investing scam promising high rates of return...
  5. Jan

    Lawyers are the big winners in Mirror Trading International liquidation

    Big winners in Mirror Trading International scam — liquidators blow R113 million Mirror Trading International’s liquidators have spent R90,243,021.55 on lawyers and consultants since taking control of the Bitcoin-based network marketing scam’s estate. In total, they have disbursed...
  6. Jan

    High court grants declaratory order in MTI liquidation - how to treat bitcoin and investors

    High court grants huge order in Mirror Trading International case The Cape Town High Court has granted a declaratory order stipulating how liquidators in the Mirror Trading International (MTI) case must treat bitcoin, and which members to recover money from. In an order dated 31 August 2022...
  7. Jan

    SARS claims Mirror Trading International's liquidator owes it R931,121,989.35 in tax and penalties

    Liquidators recovered R1.1 billion in South Africa's biggest bitcoin scam — now the taxman wants it all The South African Revenue Service (SARS) is lodging a claim for R931,121,989.35 against the estate of disgraced bitcoin-based network marketing scheme Mirror Trading International. If...
  8. Jan

    US CFTC lays civil charges against MTI and Johann Steynberg for R28 billion fraud

    United States lays charges against South African man over R28 billion Bitcoin scam The United States Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action in which it charged Mirror Trading International (MTI) and its CEO Johann Steynberg with fraud. “This action is...
  9. Jan

    South Africa is extraditing former MTI boss Johann Steynberg

    CEO of South Africa's biggest cryptocurrency scam faces extradition from Brazil — here are the charges South Africa has asked the Brazilian government to extradite former Mirror Trading International CEO Johann Steynberg for various financial crimes, according to a court order published on...
  10. Jan

    Mirror Trading International "masterminds" summonsed to pay back R4.7 billion + extra

    "Masterminds" of South Africa's biggest Bitcoin scam summonsed — on the hook for R4.7 billion Mirror Trading International's liquidators have issued a joint summons against eighteen individuals to pay R4,666,077,528 to cover the scheme’s debts — with 7% interest. According to the liquidators...
  11. Jan

    Mirror Trading International liquidation milestone - Master of the Court accepts claims

    Good news for Mirror Trading International scam victims The Master of the Court has approved hundreds of claims against bitcoin scam Mirror Trading International (MTI), MyBroadband has learned. According to a source with knowledge of the proceedings, the Master accepted at least 970 claims.
  12. Jan

    Mirror Trading International liquidators quietly call special creditors' meeting

    Secret Mirror Trading International creditors' meeting called Mirror Trading International’s liquidators have quietly scheduled a meeting of creditors for 09:00 on Friday, 1 April 2022. No notice of the meeting was posted to the liquidators’ website or to a public Telegram channel where...
  13. Jan

    Interim payout deal for MTI losers

    Mirror Trading International victims get offered payout Mirror Trading International’s liquidators have offered to demonstrate good faith to victims of the alleged pyramid scheme by paying a portion of their claims. In exchange, those who want to take the deal must withdraw their opposition to...
  14. Jan

    Man arrested in Mirror Trading International case for failing to appear before enquiry

    First South African arrest in Mirror Trading International case An alleged net beneficiary of Mirror Trading International has been arrested after failing to appear before a Section 417/418 enquiry called by the scheme’s liquidators. Multiple sources have informed MyBroadband that Phillip...
  15. Jan

    MTI liquidators slam attempts to prevent it from being declared a pyramid scheme

    MTI liquidators slam members trying to stop it from being declared a pyramid scheme Mirror Trading International's liquidators have hit back at claims that victims would lose money if the scheme were declared unlawful. According to the liquidators, this argument is being furthered by some of...
  16. Jan

    MTI CEO Johann Steynberg caught in Brazil - reports

    Mirror Trading International CEO Johann Steynberg arrested — reports Mirror Trading International (MTI) founder and CEO Johann Steynberg has been arrested in the city of Goiânia, the capital of the Brazilian state of Goiás, according to several Portuguese-language news reports. The Goiás...
  17. Jan

    Mirror Trading International liquidators say they rejected all claims in first creditors' meeting to save time

    What the Mirror Trading International liquidators tried to hide — all member claims rejected At the first meeting of creditors held with the Master of the High Court on 5 November, the provisional liquidators of Mirror Trading International resolved to reject all claims that the scheme's former...
  18. Jan

    Mirror Trading International hearing to decide whether it is declared a pyramid scheme postponed to 2022

    Major problem in Mirror Trading International case The hearing for the application to have get-rich-quick scheme Mirror Trading International (MTI) declared an unlawful or illegal scheme has been postponed until 2 March 2022. Acting Justice Alma de Wet set the new date in an order issued on...
  19. Jan

    Legal eagles in MTI case are worried about what might happen if it is declared a pyramid scheme

    Shocking twist in multi-billion Mirror Trading International case Startling allegations against the liquidators of Mirror Trading International (MTI) and the Financial Sector Conduct Authority have come to light in court papers filed to oppose the declaration of the scheme as an illegal...
  20. Jan

    FSCA wants to slap Mirror Trading International with a R100 million fine

    Mirror Trading International faces R100 million fine The Financial Sector Conduct Authority (FSCA) has issued a warning to the leadership of Mirror Trading International that it plans to levy a fine of R100 million against the scheme for violating South Africa's financial regulations. Mirror...
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