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CFTC & MTI & Johannes Steynberg- Scam Review

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The CFTC told the court that it plans to serve Johannes Steynberg through the Hague Convention.

After the CFTC tried and failed to serve both defendants, it announced its plans in a Status Report on July 28.

Mirror Trading International was a South African Ponzi scheme that didn’t work and was shut down.

After running away from South Africa, MTI CEO Steynberg was caught in Brazil at the end of 2021.

In their report, the CFTC talks about how they tried to help MTI and Steynberg (right).

The CFTC knows that Steynberg was arrested in Goiânia, Brazil, in December 2021. He is still in jail at Ncleo de Custódia do Complexo Penitenciário de Aparecida de Goiânia, waiting to be sent to South Africa or the United States.

The CFTC doesn’t know how long Steynberg will be in jail in Brazil or when he will be released or sent back to the U.S.

I should point out that the CFTC’s suggestion that the US could be a place where someone could be extradited isn’t something I know for sure. It’s based on a news report from June 2022.

Through its research, the CFTC found June 6, 2022, Brazilian court decision that denied Steynberg’s request to be let out of prison in Brazil. The decision lists three lawyers from the law firm of Saad & Lima in So Paolo, Brazil as his local counsel.

After finding out who Steynberg’s local lawyer in Brazil was, the CFTC tried to serve Steynberg through the law firm of Saad & Lima. The CFTC also emailed Steynberg’s lawyer at this firm to ask if the lawyer would accept service on Steynberg’s behalf.

So far, Steynberg’s lawyers in Brazil have not answered the CFTC’s questions.

The CFTC also tried to find Steynberg through the law firm Ulrich Roux and Associates in Sandton, South Africa, which was his last known lawyer there.

On July 25, 2022, lawyer Ulrich Roux replied to an email from the CFTC asking if he was representing Steynberg in this case and if he would accept service on Steynberg’s behalf by saying:

“My law firm worked for Mirror Trading International, but in December 2020, we stopped being the company’s official lawyers.

I don’t know of any new lawyers or counsel who has been hired.”

Ulrich Roux (on the right) helped Mirror Trading International out a lot.

Roux and his disgraced law firm didn’t stop the Ponzi scheme until late 2020 when it failed (and presumably payments stopped).

The CFTC sent copies of the complaint, summons, and civil cover sheet to Steynberg’s last known email address on July 25, 2022.

The CFTC’s email to Steynberg hasn’t come back saying that it couldn’t be sent.

So far, Steynberg hasn’t replied to the CFTC’s email.

Due to the failed attempts at service listed above, the CFTC advises it

through the Hague Service Convention, which ill starts the long process of officially serving Steynberg.

This process is expected to cost “thousands of dollars,” especially because legal documents will need to be translated from English to Portuguese.

After getting the Portuguese translations, the CFTC will send the necessary forms and court documents to Brazil’s Ministry of Justice and Public Safety.

The CFTC knows that it could take up to six months or even longer for them to serve Steynberg and give them the right proof of service paperwork.

It’s not clear if Steynberg, who could be sent to prison, will still be in Brazil in six months.

If the CFTC can’t get formal service on Steynberg through the Hague Service Convention, or if Steynberg gets out of jail and no one knows where he is, the CFTC plans to ask the Court to let them find another way to serve the rprocess

The CFTC plans to serve Mirror Trading International through South African liquidators because it is a business defendant.

The South African Financial Sector Conduct Authority (“FSCA”) helped the CFTC find the joint South African liquidators of MTI who are in charge of the company’s assets.

In the coming weeks, the CFTC will talk to the legal representatives of MTI’s joint liquidators about the normal service of process on MTI. As soon as possible, the CFTC will file proper proof of service and supporting documents with the Court.

Most of the money from MTI’s liquidation hasn’t gone anywhere and is getting more and more depressing to cover.

South African authorities continue to screw over MTI victims, but the Marks crime family, led by CClintonand Cheri Marks (right), who are thought to be the main owners and beneficiaries of MTI, are still at large.

If the CFTC can’t get a formal notice to MTI through its joint liquidators, it will ask the Court for a different way to get the notice to MTI.

I’ll keep an eye on the CFTC’s MTI case docket for new information.

Changes on September 6, 2022 – The CFTC changed its mind about how it was going to serve Steynberg.

Now, the regulator wants to publish a notice to Steynberg.

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