Mirror Trading Review- Scam

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Finally, South African authorities have released an update on Johann Steynberg’s extradition to Brazil. 

The poor report? Steynberg will squander everyone’s time by resisting the inevitable. 

The good news? Prepare an extra-large portion of popcorn. 

Since Steynberg’s arrest in January, neither South Africa nor Brazil have provided us with any formal information. 

MyBroadband’s Jan Vermuelen writes, citing a court order issued on Monday, that: 

South Africa has requested that former Mirror Trading International CEO Johann Steynberg be extradited to Brazil for alleged financial offences.

Providing financial services without a license is illegal. 

Unlicensed operation of a derivatives company 

Unlicensed trading in financial products 

FraudsTheft

Money laundering 

The Brazilian court judgment elucidates that the South African authorities had secured an Interpol Red Diffusion (A–488/1–2022) on Steynberg, which led to his identification. 

After the October 2020 collapse of Mirror Trading International, Steynberg fled South Africa. 

After Steynberg’s arrest, we shortly learnt that he had a Brazilian mistress with whom he spent the entirety of 2021. 

Initially, I attributed this to Steynberg’s horniness. Evidently, it was possibly an extradition insurance policy. 

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

Steynberg’s method is highlighted by Jan Vermeulen. similar

to the notorious train robber, Ronald Biggs. 

In 1974, the United Kingdom was unable to extradite Biggs from Brazil because his girlfriend was pregnant. 

Steynberg’s wife and children were left behind when he escaped from South Africa. 

It is unknown whether Nerina Steynberg supports Johann’s plan to “create a family in Brazil.” 

The fatal flaw in Steynberg’s scheme is that he left a wife and child behind to flee to Brazil in the first place. 

“Your Honor, I will not repeat the action I just took. Oh my god, I now have a family. Wait, I understand it. 

Indeed, I should be sent back. I am an utterly awful person. 

Can I still call her Nerina? She will be enraged. This is even worse than when Clynton hid Cheri’s Lindt! ” 

Steynberg’s final argument was that his status as the head of a $1.4 billion Ponzi scheme did not “meet the prerequisites for extradition.” 

Fortunately, the judge presiding over Steynberg’s case has more common sense than his allegedly pregnant lover. 

André Mendonca, a judge on Brazil’s highest court, was unmoved by Steynberg’s motion and ruled that he stay under preventive detention until his extradition hearing. 

Mendonca concluded that Steynberg’s decision to move to Brazil and raise a family no longer protects him from precautionary arrest or extradition. 

Regarding the timing of Steynberg’s extradition, 

Mendonca stated that the South African embassy was notified of the detention on February 18, and on April 14, it submitted a verbal letter to the Ministry of Foreign Affairs formalizing the extradition request. 

Steynberg can apparently be detained for 60 days, but there is “precedent” for extensions. 

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

We rarely hear positive news about MTI, so I hope you appreciated it. Now let’s return to the catastrophe that is the total waste of time that is the liquidation process in South Africa. 

The most recent development is that the liquidators are engaged in a legal battle with Clynton and Cheri Marks, which will likely last for years. 

I do not comprehend the game plan. After Steynberg has been extradited,

The South African government has charged him. If Steynberg is ultimately found guilty in 2030 or 2040, he will be sent to prison. 

The Marks will likely continue to live off the riches they stole from Mirror Trading International investors until at least 2050 or 2060, as liquidation funds are anticipated to continue to flow. 

Can someone explain why Clynton and Cheri Marks can not also be charged by South African authorities? 

Providing financial services without a license is illegal. 

Unlicensed operation of a derivatives company 

Unlicensed trading in financial products 

Theft, fraud, and money laundering? 

The Marks are equally responsible for Steynberg. If not more, given that MTI was essentially a relaunch of their BTC Global Ponzi scheme.

Finally, South African authorities have released an update on Johann Steynberg’s extradition to Brazil.  The poor report? Steynberg will squander everyone’s time by resisting the inevitable.  The good news? Prepare an extra-large portion of popcorn.  Since Steynberg’s arrest in January, neither South Africa nor Brazil have provided us with any formal information.  MyBroadband’s Jan Vermuelen…

Finally, South African authorities have released an update on Johann Steynberg’s extradition to Brazil.  The poor report? Steynberg will squander everyone’s time by resisting the inevitable.  The good news? Prepare an extra-large portion of popcorn.  Since Steynberg’s arrest in January, neither South Africa nor Brazil have provided us with any formal information.  MyBroadband’s Jan Vermuelen…

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