Table of Contents
Main MTI information page
2022-01-07 MTI CEO ARRESTED IN BRAZIL
2021-07-07 - MTI FACES R100 MILLION FINE
2021-07-02 - 8000 MORE BTC TRACED
https://www.moneyweb.co.za/moneyweb-crypto/mti-placed-in-final-liquidation-8-000-more-bitcoin-traced
2021-06-30 - FINAL LIQUIDATION ORDER APPROVED
2021-06-15 - JUDGEMENT RESERVED IN FINAL LIQUIDATION
2021-04-01 - 1281 PREVIOUSLY FROZEN BITCOIN RECOVERED FROM FXCHOICE
MTI liquidators recover R1.1bn in bitcoin Mirror Trading International (MTI) provisional liquidators have recovered 1 281 bitcoin, worth more than R1.1 billion at current prices, from the collapsed scheme.
FXChoice confirmed the same on 2021-03-29
Hello everyone,
We just wanted to update this thread with the latest, and as far as we’re concerned last, development.
The FSCA have authorised the dispersal of MTI’s frozen funds at FXChoice to the appointed liquidators. We confirm that the transfer has now been completed and we consider the matter closed.
We want to say a big thank you to everyone who contributed to this thread, and we wish you all the very best.
FXChoice
MTI final liquidation hearing postponed until May
MTI final liquidation hearing postponed until May
The application for the final liquidation of Mirror Trading International (MTI) has been postponed until May 31, apparently by groups who believe the company can still be saved.
Moneyweb understands three groups are opposing the final liquidation in favour of business rescue, alternatively that they be allowed to restructure the company’s debts in terms of a Section 155 (of the Companies Act) compromise.
MTI WAS 2020's BIGGEST INVESTMENT SCAM - CHAIN ANALYSIS FIRM STATES
FSCA RELEASES MTI FINDINGS
- FSCA Completes Investigation into MTI 19.01.2021 - FSCA (PDF)
MTI ON CARTE BLANCHE 2021-01-17
- Direct Youtube Link https://www.youtube.com/watch?app=desktop&v=bsIB27--koM
The Marks' legal response to Carte Blanche linked here1).
In the News
- Vanishing act: Only the missing CEO of bitcoin trader MTI can give answers, says employee - News24
- Allegations, denials, and contradictions in multi-billion MTI saga - Mybroadband
- MTI Bitcoin ‘trading’ scheme leads to wine, antidepressants and tears - Citizen
LIQUIDATORS APPOINTMENTS
The four liquidators have been appointed by the Master of the High Court2).
The four liquidators are:
- Adriaan van Rooyen - Investrust
- Herman Bester - Tygerberg Trustees
- Jacolien Frieda Barnard - Tshwelopele Trust
- Deidre Basson - Tshwane Trust
In the News
- Carte Blanche Reveals 300,000 Lost Life Savings in SA Bitcoin Scheme MTI - SA People
- Shock announcement in multi-billion Mirror Trading International bitcoin scheme - Mybroadband
- Liquidators seek expanded probe of alleged South African Bitcoin scheme - Coin Telegraph
- As Hawks start probe of MTI, investigators link with team working on alleged 2018 Ponzi scam - News24
ANONYMOUS LEAK OF BACKEND
A recent leak by Anonymous reveals the extent to which the leaders and main players in the scam have benefitted through defrauding unsuspecting investors.
In the News
- New data breach exposes Mirror Trading International’s top earners - Mybroadband
- MTI Bitcoins Sent to Privacy Mixers as New Data Breach Exposes the Ponzi Scheme's Top Earners - Bitcoin.com
OPENING A CRIMINAL CASE AGAINST MTI
Information as given on Mirror Trading International Scam - Facebook page3). This useful info was provided by a member who contacted SAPS to file a criminal complaint against the main players in MTI.
What you need to know when opening a case at SAPS against MTI:
Make sure you have all these details with you :
1. Date you opened your MTI account
2. Proof of how much you funded your accounts with (bank statements or screenshots of your wallet account, preferably both) showing dates of transactions.
3. Screenshot of your dashboard showing your BTC amount
4. Screenshots of your pending withdrawals if any
5. Include the names, ID numbers and phone numbers of MTI Directors & Management:
Johann Steynberg : ID: 8307135016088 Cell: 0722034238
Clynton Marks : ID: 7002135185089 Cell: 0715095266
Cheri Marks : ID: 8502070321085 Cell: 0629285973
Monica Coetzee : ID: 7311300006081 Cell: 0727469875
Leonard Gray: ID: 8208185051084
Elizabeth Kathleen Malton (Liz Malton) ID: 6208040042080
Charles Ward: ID: 8709295183089
Vincent Ward: ID: 9005285128008
Matshidiso Ramanamane: ID: 7901220292082
Nerina Steynberg : ID: 8203100219080 Cell: 0632002746
6. Add these addresses:
Monica Coetzee : 14 Juniper Street Randpark Ridge, Randburg.
Cheri and Clynton Marks : Unit 4, 24 Monteith Place, Monteith Estate Durban North, 3731
(This information is public knowledge already).
7 : Address and company details : Mirror Trading International reg : 2019/205570/07 43 Plein Street Stelenbosch
8 : Printed final statement from MTI
Do not include in your statement the Case number for the FSCA. This just confuses matters.
The SAPS will sms you the case number once it's registered you must please send it to andrea.coetzer@fsca.co.za to complete the process.
Report a Crime - South Africa.
South African Police Service
https://www.saps.gov.za/services/report_crime.php
FSCA
https://www.fsca.co.za/Pages/Default.aspx
South African Fraud Prevention Service
https://www.safps.org.za/Home/FraudPrevention_CommonFraudScams
South African Revenue Service
https://www.sars.gov.za/Pages/default.aspx
2021 MTI UPDATES
- Warning to Mirror Trading International members - Mybroadband
- FBI jumps onto MTI investigation - Moneyweb
- Striking similarities between Mirror Trading International and BTC Global - Mybroadband
MTI'S DEMISE IN THE NEWS
- RSG se Geldsake met Moneyweb – Woensdag 23 Desember 2020 - RSG (from 08:30)
- Liquidators swarm MTI - Moneyweb
- South African Regulator's Probe Into Mirror Trading International Unearths Previously Undeclared Losses and Missing Bitcoins - Bitcoin.com
- MTI announcement throws CEO and wife under the bus - BehindMLM
- MTI does not know if its bitcoin is safe - Moneyweb
- Mirror Trading International CEO missing as clients struggle to withdraw funds - Mybroadband
- MTI CEO goes AWOL, lawyers pull out - Moneyweb
- CEO of MTI Bitcoin Ponzi Scheme Flees South Africa in Possible Exit Scam – Funds Blocked - Bitcoin.com
- JUST IN | Court grants provisional liquidation order against Stellenbosch Bitcoin trader MTI - News24
- Words on Wealth: Huge losses on the cards for unsuspecting MTI investors - IOL
- SA investors unable to redeem more than R9 billion deposits in cryptocurrency scheme - IOL
- SA Bitcoin CEO Disappears With Over 9 Billion Investors Money - SA Rich and Famous
- High Court grants provisional liquidation order against Mirror Trading International - Mybroadband
- MTI placed in provisional liquidation and damage could be huge - Moneyweb
- MTI Voorlopig Gelikwideer - Maroela Media
- As Hawks start probe into MTI, anxious investors pray they can still get something out - Fin24
** MTI'S OFFICIAL RESPONSE TO THE DEBACLE **
MTI Statement (PDF file) - dated 22.12.2020.
The Zoom meeting (removed - new link https://youtu.be/8Ep3-7FS2zw) (dated 22.12.2020) that prompted the above letter.
** ULRICH ROUX AND ASSOCIATES WITHDRAW AS ATTORNEYS FOR MTI**
Ulrich Roux and Associates (URA) have just released a statement (PDF format) clarifying their role in MTI and their reasons for terminating the relationship.
Based on several MTI members saying they wouldn't have invested with MTI if URA hadn't endorsed them 4), URA sent out this email. This
is the interview referred to.
** MTI UPLINES FOUND WIPING THEIR SOCIAL MEDIA PROFILES AFTER JOHANN'S DISAPPEARANCE **
It has come to our attention that after the reported disappearance of Johann Steynberg, several staff and high level promoters of MTI have attempted to wipe their association from their respective social media channels including Facebook and YouTube. Most evident of this is Colin Daly - Crypto Stacks 369, who has made Private all videos promoting MTI from his Youtube channel. Other notable members have all but erased mention of MTI on their social media, or outright deleted videos.
** OFFICIAL MTI NOTICE OF JOHANN STEYNBERG'S DISAPPEARANCE OVERSEAS 19-12-2020 **
A notice was posted late afternoon 19.12.2020 of the disappearance of Johann Steynberg on Official Telegram groups and Confirmed by Cheri Marks as having disappeared 14-12-2020 after leaving for Overseas 03-12-2020 5).
IRS Forensic Investigations - Facebook - Missing Persons Request6).
** FSCA RADIO INTERVIEW WITH RSG GELDSAKE,MORE INFORMATION ON CASE **
Moneyweb - RSG Geldsake - FSCA lê 'n kriminele klang teen MTI - English transcription can be seen in the footnote7).
** FSCA OPEN CASE WITH SAPS - 17 DECEMBER 2020 **
The FSCA have released a public statement claiming they have opened up a criminal case with the SAPS in regards to MTI.
MTI's response with clarification from Brandon Topham, FSCA.
FSCA opens criminal case against MTI, says investigation ‘nearly complete’. MTI responds that this is another attempt by the FSCA to destroy its business.
The case number is 245/11/2020 and can be confirmed on 021 809 9142 - SAPS Stellenbosch.
For more information on the Trade300 website.
In the News
- South African Regulator's Probe Into Mirror Trading International Unearths Previously Undeclared Losses and Missing Bitcoins - Bitcoin.com
- South African Regulator’s Probe Into Mirror Trading International Unearths Previously Undeclared Losses and Missing Bitcoins - Cryptocurrency Updates
- Cheri Marks accuses FSCA of lying about criminal investigation - BehindMLM
- Regulator opens a criminal case against Stellenbosch-headquartered company fingered as 'get-rich-quick scheme'- News24
** MTI WITHDRAWALS EXPERIENCING ISSUES **
Multiple members have started complaining about deposits and withdrawals not showing up in their accounts.
=== 26 October 2020 - (MTI Mirror Trading International) FSCA RAID ===
It has been confirmed that The Financial Sector Conduct Authority (FSCA) raided the offices of Mirror Trading International (MTI) in Stellenbosch and Polokwane on the 26th of October 2020. Further raids & seizures were performed at Cheri Marks & Clynton Hugh Marks' mansion in Durban together with the home of CEO, Johann Steynberg
Topham refutes allegations that the FSCA lied to the courts in pursuit of its investigations into MTI.
“We also place on record that demonstrations have been made to us with the view to convincing us that live trading was taking place and that bitcoin balances existed,” says Topham.
“We can only say at this stage that we have not been able to independently confirm the accuracy of this demonstration and contradictory information has also been received.”
Proof of MTI's BTC being moved from FXChoice to Trade300 was given in the form of this PDF file.
700 Million Rand in investor bitcoins spent on online gambling
According to a Techcentral article on the Anonymous_ZA leak, we can see a MTI bitcoin wallet and its online transactions.
3755 Bitcoins (over R700 million) of investors bitcoins was sent to an online gambling website called Cloudbet.com
1)
A few points have been publicly by Cheri and Clyntonas can be seen by these screenshots - 
7)
Andre: “The Financial Sector Conduct Authority (FSCA) has opened a criminal case against Mirror Trading International (MTI) . The FSCA has also said that its investigation into the company is almost finished. MTI says it uses a computer program or bot which trades in bitcoin and which can generate profits of up to 10% per month for its members. The group alleges it has more than 280 000 members all over the world who together own about 17 000 bitcoin, which is about R5,8 billion in bitcoin, and the most recent announcement of the criminal case follows after the FSCA conducted a search and seizure raid on several offices and houses of senior executives of MTA a few months ago. On the line is Gerhard van Deventer. He is the head investigator at FSCA. “Gerhard, welcome to the program. You say in your statement you think MTI is an illegal business. What are these apparently illegal operations?”
Van Deventer: “Good Evening André. The basis of what MTI does, according to them, is that they receive Bitcoin from the public or from their clients and they then pool it in their company, and as you said they have this bot which trades and generates very, very good profits, very unrealistic profits. So, in our books, and this is why we are involved, this is typically asset management – so a category 2 license. What actually happens is that their clients’ bitcoin goes to MTI’s bitcoin wallets and from there it goes in all directions. It is very difficult to keep up with where it went, but we have put in a lot of effort to find out where and on which platform it has been traded and we have followed up every single platform which they have mentioned to us, contacted these platforms and tried to get confirmation from them… and it is just not true.”
Andre: “So is there 17 000 bitcoin which was invested by 280 000 members?”
Van Deventer: “No. If there is, we have definitely not found it yet. But keep in mind we asked them: tell us where it has been invested, tell us where it has been traded and then we can follow it up and we can confirm it, and they have done that. If we throw all these platforms together then I can tell you briefly, the whole thing started at FX Choice. That is were they apparently traded. FX Choice is a regulated platform in Belize, so they have cooperated very well. There is .. there were a few transactions in Steynberg’s name, but what happened then is that clients of MTI started contacting FX Choice and said these are our statements – we have questions about them and FX Choice told us that those statements were obviously not real transactions. They were what are called demo accounts on which you can play and get a little experience. And those demonstration accounts were taken and adapted and given to clients. That led to FX Choice freezing whatever was on their platforms because they realized: here is a problem. And I think if I can remember … that is just about 1,28 bitcoin. So this is what we could find. We found a small amount of bitcoin in Steynbergs's name on another platform but that really makes no difference and of course their version is that they eventually – to get out from under our jurisdiction – they moved everything to a platform with the name of Trade300 and that is where all these riches lie now. We have tried our very best to find Trade300. There is no trace of this platform. There is a website and all there is on this website is that it is under construction or something and the contact person is Joe Steyn. Now we know that Joe Steyn is an alias for Johan Steynberg. What we did find, which is interesting, is that when we confiscated the computers, that on the computers there is clear proof that Trade 300 was created from these computers. There are requests from Steynberg that the email addresses should be created and the website should be put up. So we don’t believe that there will be any bitcoin there.”
Andre: “So Johan Steynberg to who you referred to is the head executive and the person behind MTI. So, according to you, this is one big Ponzi?“
Van Deventer: “I think so. I think Ponzi is surely the right term here. Look we have naturally passed it all on to the prosecution authorities because it doesn’t really matter what you call it. In our opinion there are gross misrepresentations being made to the public, to their clients, to us … so whatever you call it, it is clear that we have a big problem here.“
Andre: “You are still busy with your investigation, but has the FSCA ever opened a criminal case against an entity or individual before the investigation was finished?“
Van Deventer: “Yes, yes, it happens. It depends on the circumstances. Sometimes one finds something which is really worrying and then we act very quickly, to at least, if there is something to protect, we can protect it. So it is a bit like a fire brigade. If we see there is a problem we act quickly. Look these investigations take a long time. It’s an awful lot of work and I have a big team on it, including external experts, but in the meantime we are constantly in contact with the prosecution authorities so that we can be sure we are doing what they want. And because of the nature of the case we will keep on supporting them in future if they want to take the case forward.“
Andre: “Some members allege they wanted to withdraw their money from MTI, but they couldn’t. There was a problem. Have you received such complaints?”
Van Deventer: “Yes, we have received such complaints in the past two weeks. You will remember that we have warned the public to withdraw their money – that there is a clear problem here – so yes, unfortunately this has become true. Look, MTI has lots of explanations for this of course.. technical problems they say .. nothing to be worried about … they are working on it …, but I am not too surprised this has happened and we have those complaints.”
Andre: ”MTI has confirmed .. said to Moneyweb the FSCA doesn’t understand MTI’s business and the FSCA just wants to sink this business. What is your reaction on this?“
Van Deventer: “Yes, we understand very well what is happening here because we have seen this a lot. It is a highly technical environment, of course. I mean if you work with bitcoin and platforms and so on, so we have an external team of experts who assist us full time. But the truth is we have no reason to shut down a place if they are not acting illegally. We have no interest in anything so we have tried very hard to follow the bitcoin .. to follow the wallets etc. , but unfortunately it is a very difficult area because it is not so easy to identify the owners. But no .. there is no personal feeling from our side. We are just doing the work.”
Andre: “Gerhard, thanks for your time tonight. This was Gerhard van Deventer. He is the head of investigations at the FSCA. Just for the record .. I did contact MTI to participate in tonight's talk, but they did not react.”
Van Deventer: “Good Evening André. The basis of what MTI does, according to them, is that they receive Bitcoin from the public or from their clients and they then pool it in their company, and as you said they have this bot which trades and generates very, very good profits, very unrealistic profits. So, in our books, and this is why we are involved, this is typically asset management – so a category 2 license. What actually happens is that their clients’ bitcoin goes to MTI’s bitcoin wallets and from there it goes in all directions. It is very difficult to keep up with where it went, but we have put in a lot of effort to find out where and on which platform it has been traded and we have followed up every single platform which they have mentioned to us, contacted these platforms and tried to get confirmation from them… and it is just not true.”
Andre: “So is there 17 000 bitcoin which was invested by 280 000 members?”
Van Deventer: “No. If there is, we have definitely not found it yet. But keep in mind we asked them: tell us where it has been invested, tell us where it has been traded and then we can follow it up and we can confirm it, and they have done that. If we throw all these platforms together then I can tell you briefly, the whole thing started at FX Choice. That is were they apparently traded. FX Choice is a regulated platform in Belize, so they have cooperated very well. There is .. there were a few transactions in Steynberg’s name, but what happened then is that clients of MTI started contacting FX Choice and said these are our statements – we have questions about them and FX Choice told us that those statements were obviously not real transactions. They were what are called demo accounts on which you can play and get a little experience. And those demonstration accounts were taken and adapted and given to clients. That led to FX Choice freezing whatever was on their platforms because they realized: here is a problem. And I think if I can remember … that is just about 1,28 bitcoin. So this is what we could find. We found a small amount of bitcoin in Steynbergs's name on another platform but that really makes no difference and of course their version is that they eventually – to get out from under our jurisdiction – they moved everything to a platform with the name of Trade300 and that is where all these riches lie now. We have tried our very best to find Trade300. There is no trace of this platform. There is a website and all there is on this website is that it is under construction or something and the contact person is Joe Steyn. Now we know that Joe Steyn is an alias for Johan Steynberg. What we did find, which is interesting, is that when we confiscated the computers, that on the computers there is clear proof that Trade 300 was created from these computers. There are requests from Steynberg that the email addresses should be created and the website should be put up. So we don’t believe that there will be any bitcoin there.”
Andre: “So Johan Steynberg to who you referred to is the head executive and the person behind MTI. So, according to you, this is one big Ponzi?“
Van Deventer: “I think so. I think Ponzi is surely the right term here. Look we have naturally passed it all on to the prosecution authorities because it doesn’t really matter what you call it. In our opinion there are gross misrepresentations being made to the public, to their clients, to us … so whatever you call it, it is clear that we have a big problem here.“
Andre: “You are still busy with your investigation, but has the FSCA ever opened a criminal case against an entity or individual before the investigation was finished?“
Van Deventer: “Yes, yes, it happens. It depends on the circumstances. Sometimes one finds something which is really worrying and then we act very quickly, to at least, if there is something to protect, we can protect it. So it is a bit like a fire brigade. If we see there is a problem we act quickly. Look these investigations take a long time. It’s an awful lot of work and I have a big team on it, including external experts, but in the meantime we are constantly in contact with the prosecution authorities so that we can be sure we are doing what they want. And because of the nature of the case we will keep on supporting them in future if they want to take the case forward.“
Andre: “Some members allege they wanted to withdraw their money from MTI, but they couldn’t. There was a problem. Have you received such complaints?”
Van Deventer: “Yes, we have received such complaints in the past two weeks. You will remember that we have warned the public to withdraw their money – that there is a clear problem here – so yes, unfortunately this has become true. Look, MTI has lots of explanations for this of course.. technical problems they say .. nothing to be worried about … they are working on it …, but I am not too surprised this has happened and we have those complaints.”
Andre: ”MTI has confirmed .. said to Moneyweb the FSCA doesn’t understand MTI’s business and the FSCA just wants to sink this business. What is your reaction on this?“
Van Deventer: “Yes, we understand very well what is happening here because we have seen this a lot. It is a highly technical environment, of course. I mean if you work with bitcoin and platforms and so on, so we have an external team of experts who assist us full time. But the truth is we have no reason to shut down a place if they are not acting illegally. We have no interest in anything so we have tried very hard to follow the bitcoin .. to follow the wallets etc. , but unfortunately it is a very difficult area because it is not so easy to identify the owners. But no .. there is no personal feeling from our side. We are just doing the work.”
Andre: “Gerhard, thanks for your time tonight. This was Gerhard van Deventer. He is the head of investigations at the FSCA. Just for the record .. I did contact MTI to participate in tonight's talk, but they did not react.”