Beware of Mirror Trading International – Review Part 2

An update on Johann Steynberg’s extradition to Brazil has now been made available by South African authorities.

Is it terrible news? Steynberg will squander everyone’s time by trying to stop what must happen.

the positive news Prepare an enormous dish of popcorn.

Since Steynberg’s arrest in January, neither South Africa nor Brazil has made any public announcements.

Jan Vermeulen from MyBroadband reports, citing a court ruling released on Monday;

Johann Steynberg, the former CEO of Mirror Trading International, has been requested to be extradited to South Africa for several financial offenses.

Financial services provided without a license

Unlicensed derivatives commercial activity

trading without a license in financial goods

Fraud \sTheft

launder money

The Brazilian court judgment has made it clear that Steynberg was identified as a result of the South African authorities obtaining an Interpol Red Diffusion (A-488/1-2022) on him.

After the Mirror Trading International Ponzi failed in October 2020, Steynberg left South Africa.

We soon discovered that Steynberg had moved in with and spent 2021 berating a Brazilian mistress after he was arrested.

At first, I assumed Steynberg was simply a horny toad. It turned out to be an extradition insurance policy.

Steynberg convinced the court in his request for parole that he was not a flight risk since he had “established a family in Brazil.”

Jan Vermeulen highlights The plan of Steynberg is

Ronald Biggs, a renowned railway robber, comes to mind.

In 1974, the UK was unable to extradite Biggs from Brazil because his girlfriend was expecting their baby.

When Steynberg escaped South Africa, he left behind a wife and a son.

It’s unknown if Nerina Steynberg supports Johann “creating a family in Brazil.”

The obvious flaw in Steynberg’s strategy is that the only reason he ended himself in Brazil in the first place was that he fled his wife and little child behind.

“Your honor, I won’t repeat what I did just now. Oh my God, I now have a family. Oh, I see now.

Yes, you should return to me. I’m a dreadful human being.

Can I still reach Nerina? She will be furious. This situation is worse than when Clinton stole Cheri’s Lindt.

Steynberg’s final defense was that despite being the CEO of a $1.4 billion Ponzi scheme, he “did not fit the standards for extradition.”

Fortunately, Steynberg’s judge had more judgment than his now-likely pregnant mistress.

Steynberg requested that he be kept under preventive custody while his extradition case was being heard, but Brazilian Supreme Court Justice André Mendonça was undeterred and issued the ruling.

Mendonça concluded that establishing residency and raising a family in Brazil no longer shield Steynberg from precautionary detention or extradition.

Whenever Steynberg will be returned;

Mendonça said that the South African embassy was informed of the detention on February 18 and that, on April 14, it verbally requested extradition from the Ministry of Foreign Affairs.

Steynberg may only be detained for 60 days, but extensions are “precedented.”

The date of Steynberg’s “pending extradition hearing” is still unknown.

I hope you enjoyed the positive news about MTI because we don’t often hear about it. Now let’s go back to the catastrophe that is the South African liquidation processes, which are a total waste of time.

The most recent development is that the liquidators are engaged in a protracted legal battle with Clynton and Cheri Marks.

What the game plan is once Steynberg has been extradited is one thing I don’t understand.

Authorities in South Africa have accused him. If Steynberg is ultimately found guilty (2030? 2040), what happens when he leaves prison?

The Marks will likely continue to live off the profits of the liquidation (2050? 2060? ), so they can no longer rob investors at Mirror Trading International of their money.

I’m wondering why the SA authorities can’t also bring charges against Clynton and Cheri Marks for

Financial services provided without a license

Unlicensed derivatives commercial activity

trading without a license in financial goods

Laundering of money and fraud?

Both The Marks and Steynberg are equally at fault. if not much more, given that MTI was essentially a BTC Global Ponzi relaunch.

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