MONEYWEB
app instead?
Members will have to wait until Monday to find out. 00:01
Questions abound regarding the safety of the 17 000 bitcoin (worth around R5.6bn) reported to be under MTI s control. Image: Chris Ratcliffe, Bloomberg
Mirror Trading International (MTI) issued a ‘critical statement’ on Tuesday saying its missing CEO Johann Steynberg is alive and probably in Brazil, but that âmanagement and leaders do not know if our bitcoin is safeâ.
This statement comes just a day after Ulrich Roux & Associates withdrew as the companyâs legal representatives, citing the disappearance of Steynberg and the fact that MTI members are not receiving their withdrawals as they have in the past.
MONEYWEB
app instead?
Itâs not looking good for the 280 000 members planning on harvesting profits before Christmas. 12:55
Where is MTI founder and CEO Johann Steynberg? Image: Shutterstock
Whereâs Johann? Panama, Brazil, South America? Speculation is running rife as to the whereabouts of bitcoin trading group Mirror Trading International (MTI) founder and CEO Johann Steynberg who apparently left the country on December 3, 2020 and hasnât been seen since.
According to a statement released by MTI management on December 19, he remained in contact with them until about a week ago and then seemingly went off the grid and has since been uncontactable.
MONEYWEB
MTI responds that this is another attempt by the FSCA to destroy its business. 19:20
The FSCA says it has, in the last few days, received complaints that investors were unable to redeem their investments. Image: Shutterstock
The Financial Sector Conduct Authority (FSCA) says it has opened a criminal case against Mirror Trading International (MTI) and on Thursday issued a statement providing details of its investigation into the company, which it says is nearing completion.
Last month the FSCA conducted a search and seizure raid on the offices of MTI and the homes of some of its executives, after previously warning the public against investing in the company which has been promoting its bitcoin investment scheme with returns of up to 10% a month.