Johann Steynberg and wife’s assets subject to MTI clawback

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While South African authorities continue to twiddle their thumbs and do nothing, liquidation proceedings against Mirror Trading International’s ringleaders continues.

The latest decision has seen provisional sequestration granted against Johann and Nerina Steynberg.

Johann Steynberg (right) is believed to be a puppet executive, working with MTI’s real owners Cheri and Clynton Marks. Nerina is his wife.

As reported by Jan Vermeulen of My Broadband;

The court order, which MyBroadband has seen, was handed down by Judge President Ephraim Makgoba on 13 April after the provisional liquidators of MTI applied for Steynberg to be sequestrated.

Steynberg and his wife Nerina were named as the respondents, but Steynberg is the only subject of the order.

If you’re like me and have no idea what “provisional sequestration” is, it allows for the Steynberg’s assets to be seized.

I’m not familiar with South African law, so whether this is a blanket clawback or if seized assets have to be tied to MTI is unclear.

In any event the Steynbergs or “any interested parties” have until July 20th to oppose the Steynberg asset seizure.

Johan Steynberg hasn’t been seen or heard from since he reportedly fled to South America last December. His wife Nerina is still in South Africa.

As for Cheri and Clynton Marks (right); again the failure of South African authorities to act, has seen victims take matters into their own hands.

On April 13th Vermuelen reported;

A High Court summons, seen by MyBroadband, has been issued to three people involved with BTC Global – Clynton Marks, Cheri Marks, and Andrew Caw.

Eighteen BTC Global Team victims have filed suit against the Marks and Caw.

BTC Global was a Ponzi scheme launched by the Marks and Caw in 2017. It was essentially the precursor to Mirror Trading International.

South African authorities have been investigating BTC Global Team since 2018. To date nothing has come from their investigation.

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