Mirror (non)Trading International 2 - The Fallout

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PsyWulf

Honorary Master
Joined
Nov 22, 2006
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16,574
"They've got an incredible setup here"

Where? All I see are a couple of mamparras behind some desks and a wall with a few photos. What's so incredible about that?

Their standard for what is "incredible" seems just as low as their standard for "proof of trading". I'm starting to see a pattern here.
For a guy working from home an Office with a desk and somebody who isn't your family working for you must be incredible?
 

expedite

Senior Member
Joined
Apr 16, 2015
Messages
666
"They've got an incredible setup here"

Where? All I see are a couple of mamparras behind some desks and a wall with a few photos. What's so incredible about that?

Their standard for what is "incredible" seems just as low as their standard for "proof of trading". I'm starting to see a pattern here.
There was a dude with a wheelie bin and lots of empty desks? Oh and portraits; looks like rogues gallery.
 

r00igev@@r

Honorary Master
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Dec 14, 2009
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12,105
It's a pity we can't get solid evidence of this to FSCA because it is evidence if not proof that income from trading cannot be supporting withdrawals. [I know we are convinced there is no trading, but need more solid evidence that this is a Ponzi
Ulrich Roux is gonna give us an affidavit that there is trading and he is going to guarantee that MTI won't go titsup by backing up his faith using his own trust account.
 

psssst

Well-Known Member
Joined
Nov 17, 2020
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318
It's a pity we can't get solid evidence of this to FSCA because it is evidence if not proof that income from trading cannot be supporting withdrawals. [I know we are convinced there is no trading, but need more solid evidence that this is a Ponzi.]
perhaps this could be of help...I had a look at some historical data of the daily statements
maybe this is something you already analysed in the past ..but I think we have a better chance with finding evidence with this than anything else..everything they do evolve around trading , profits , prices etc so believe this should be the area of focus ..

I picked up allot of discrepancies - perhaps FSCA follow the same approach but this would be the one area one can use as factual...ie MTI statement/trades/prices/profit vs actual market data.

1. intra day p/l don't add up - see statements
2. I did spot checks to validate trade price vs other platforms and found some big diffs...ive picked this up before with the daily dollar price they put on web I also think their is a difference in their time on the web...- see spot checks on 22 Oct 2020
3.gross profit in % not making sense - as per note on below statement

its possible that I made a mistake so will be good if someone could validate also ..
 

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expedite

Senior Member
Joined
Apr 16, 2015
Messages
666
We can’t show you behind the walls the 44 people working, because there isn’t anyone.
I wonder how they get paid? In ZAR or in BTC, because Bitcoin.....

In all seriousness though, 40 support staff equates to say conservatively R4m per year. That means income is at least that and a sizable amount is fees as opposed to interest and that means VAT registration etc etc.
Ag what the hell, let FSCA sort it.
 

Bsouthafrica

Active Member
Joined
Feb 11, 2020
Messages
79
I am in HR and if they are employing 26 support staff or 40 whichever message you hear - that means they have to register to pay PAYE - already they have a team of 10? I will check HR side for evidence - the team should be paid a monthly salary via PAYE and UIF in rands.
 

Bsouthafrica

Active Member
Joined
Feb 11, 2020
Messages
79
not disclosing the broker details is ridiculous - I have had enough families - I know its their choice but people are gullible - this place must close now.
They are taking more money every day - surely we can do more.
 
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