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Thursday, July 16, 2020

SOUTH AFRICAN BITCOIN INVESTMENT COMPANY PUSHES AGAINST TEXAS FRAUD ALLEGATIONS


Mirror Trading International (MTI), sebuah perusahaan investasi bitcoin Afrika Selatan di pusat gencatan dan menghentikan pesanan yang dikeluarkan oleh Texas State Securities Board (TSSB), telah mendorong kembali tuduhan bahwa ia menjalankan skema Ponzi atau penipuan.



MTI CEO Johann Steynberg issued a statement convincing MTI members that the organization was in discussions with the South African Financial Services Behavior Authority (FSCA).

Steynberg, who issued stop and stop orders with three other people living in the United States, also said he had corresponded with TSSB on this issue.

In a report brought by Global Crypto, a South African crypto website, Steynberg stressed in his letter that his organization did not run the Ponzi scheme because its members had full control over their bitcoins at all times.

"Another important point that distinguishes MTI from Ponzi and fraud is that members have full control over their funds (bitcoin) at all times.

Members can add or withdraw their funds (bitcoin) at any time, without any hassle and without fees, "read part of Steynberg's letter.

Steynberg claims that none of the more than 75,000 members worldwide "have ever complained" or failed to "withdraw their BTC whenever they choose."

However, Steynberg's letter, which is very similar to that circulated to members, did not directly answer the core allegations of the TSSB.

Instead, the letter focuses on handling MTI's perception and characterization as a Ponzi scheme.

According to the TSSB cease and termination, MTI and its US-based affiliates are suspected of violating state law by operating an unregistered business.

In addition, TSSB alleges that Steynberg committed international multilevel marketing fraud and recruited salespeople who did not have securities trading licenses. The regulator said Texas residents were among the victims.

Even so, Steynberg said MTI in the coming period would place "great emphasis on engaging with and working with any regulator with clear objectives at all times."

The online passive income industry - where MTI has been operating for 15 months - has a bad reputation and shows fraud and Ponzi schemes, admitted Steynberg.

Meanwhile, Steynberg said his organization wanted to "be fully compliant as a professionally managed company" that provided its stakeholders for the future.

What do you think of MTI's response to the allegations made against it? Tell us what you think in the comments section below.

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