FSCA raids MTI offices

[Hanno Labuschagne]

FSCA raids MTI offices

The Financial Sector Conduct Authority (FSCA) has raided the offices of Mirror Trading International (MTI) in Stellenbosch and Polokwane, as well as the home of two of its leadership team members in Durban.

The FSCA seized electronic and telephonic records from cell phones, notebooks, and PCs at the three locations.

“On application by the FSCA, three separate high courts in three separate jurisdictions issued warrants for the FSCA to search premises relating to MTI and seize relevant information,” the FSCA stated.

 

[LinuxMan]

Good, this needs to be shut down ASAP.

 

[r00igev@@r]

They need to build a special XXXXXL prison for this bunch!

 

[Speedster]

About time. Arrests imminent.

 

[NarrowBandFtw]

in case any newcomers rock up here, the rabbit hole goes deep:

Mirror Trading International

Hello Everyone I am curious if you are any one has heard of the company Mirror Trading International ? Their website: https://mymticlub.com/ Some how this seems like an official legitimate business. Registered with CIPC as well there are videos on youtube supposedly interviewing their CEO. A...

mybroadband.co.za

 

[j4ck455]

About time. Arrests imminent.

Based on the article, arrests seem very far off as SAPS isn't even in the loop yet with these raids.

 

[politallycorrect]

 

[Willie Trombone]

FSCA faster than a bleeding spullet

 

[Speedster]

Based on the article, arrests seem very far off as SAPS isn't even in the loop yet with these raids.

Apart from the police who conducted the raids?

 

[j4ck455]

Apart from the police who conducted the raids?

SAPS did not conduct the raids, the FCSA did, as is stated clearly in the article.

 

[Speedster]

SAPS did not conduct the raids, the FCSA did, as is stated clearly in the article.

In partnership with SAPS. In the voicenote Cheri posted she speaks of 15 policemen at her home.

 

[Willie Trombone]

In partnership with SAPS. In the voicenote Cheri posted she speaks of 15 policemen at her home.

As clearly stated in the article

 

[Alton Turner Blackwood]

Good!

 

[Death]

I don't know how these people get brainwashed by this type of crap. People I know personally won't listen to reason and it boggles the mind how they defend it. After all of this yesterday, they still posting about how great it is - the one even started making custom MTI face masks.

 

[j4ck455]

In partnership with SAPS. In the voicenote Cheri posted she speaks of 15 policemen at her home.

According to the article, the FCSA conducted the raids, there is only one mention of SAPS:

“We do not conduct criminal investigations and our investigations are in terms of the Financial Sector Regulations Act which is aimed at protecting the South African Investing public and to ensure a secure financial sector exists,” the FSCA said.

“Our investigations may lead to referrals of evidence to other authorities, or to the SAPS.”

The FSCA explained that its next step is to examine the evidence and compare it with other information that it has obtained.

“On conclusion, we will make decisions involving whether we should take administrative steps against any person and or refer the evidence obtained to other bodies.”

That does not mean that SAPS personnel were not present to support the FCSA execute the search warrants that the FCSA had obtained, but it is unlikely that SAPS personnel would have participated in the searching and seizure as that would likely raise issues with chain of custody.

Also believing anything that "Cheri" says is probably not a good idea, even when it appears to be true it might be riddled with white lies.

 

[Willie Trombone]

According to the article, the FCSA conducted the raids, there is only one mention of SAPS:

That does not mean that SAPS personnel were not present to support the FCSA execute the search warrants that the FCSA had obtained, but it is unlikely that SAPS personnel would have participated in the searching and seizure as that would likely raise issues with chain of custody.

Also believing anything that "Cheri" says is probably not a good idea, even when it appears to be true it might be riddled with white lies.

SAPS did not conduct the raids, the FCSA did, as is stated clearly in the article.

Pointless argument is pointless.

 

[saor]

In partnership with SAPS. In the voicenote Cheri posted she speaks of 15 policemen at her home.

You're the last person I expected to be quoting Cheri as a useful source of anything.

 

[Death]

Why would SAPS be interested in raiding them? They cannot even do a good job of stopping rape/murder/high jacking/burglary etc but now you expect them to be involved in a cybercrime/fraud syndicate? There are special units for these types of crimes and until there is factual evidence given to them by financial institutions, they won't just investigate them without just cause.

 

[Willie Trombone]

You're the last person I expected to be quoting Cheri as a useful source of anything.

If I'm not mistaken, entry to their home would have to be conducted with the SAPS present.

 

[acidrain]

I don't know how these people get brainwashed by this type of crap. People I know personally won't listen to reason and it boggles the mind how they defend it. After all of this yesterday, they still posting about how great it is - the one even started making custom MTI face masks.

When it comes to "easy money" you will be surprised how quickly logic disappears. One of those Bitcoin FB groups, I saw someone warning they got scammed by someone on FB offering FX Trading for their bitcoin. Said they learnt their lesson but not 2hrs later they punting another one.

Reminds me of working with some of my staff. You can try to your hearts content to warn them about making mistakes but they will not learn until you start touching their wallet.