On the request of the CFTC, an Entry of Default has been recorded in opposition to Mirror Buying and selling Worldwide CEO Johannes Steynberg.
Following service by publication on Steynberg, he had till November fifteenth to file a solution.
Steynberg (proper) failed to take action, prompting the regulator to file for an Entry of Default on November seventeenth.
The courtroom clerk recorded an Entry of Default in opposition to Steynberg on November 18th.
The Entry of Default permits the CFTC to file for default judgment at a later date.
Steynberg is at the moment being held in a jail in Brazil, following his arrest on a global warrant.
Steynberg’s standing hasn’t been confirmed for the higher a part of a 12 months, however he’s believed to be within the midst of extradition proceedings to South Africa.
The CFTC alleges MTI was a $1.7 billion greenback Ponzi scheme. Regardless of this and the culprits behind MTI being identified to them and residing brazenly in South Africa, South African authorities have made no arrests.
Ongoing inaction in opposition to Clynton and Cheri Marks (proper), suggests if Steynberg is extradited to South Africa nothing a lot will occur.
Pending additional clarification from the CFTC, it’s unclear how their case will influence liquidation proceedings in South Africa.
Underneath the farcical pretense of MTI being a authentic enterprise, civil liquidation proceedings commenced in lieu of felony prices.
BehindMLM maintains that so far, MTI liquidation proceedings have been a waste of time.
