The Texas State Securities Board TSSB issued a cease and desist order Wednesday against on Mirror Trading International MTI Forexandbitcoincom and four individuals involved in a multilevel marketing scamOut of the four individuals Cornelius Johannes Steynberg is a resident of South Africa while Micheal Aaron Cullison Steve Herceg and Brian D Knott have US residential addressesIn its charge sheet TSSB is alleging first that MTI is perpetrating a multilevel marketing company that promises lucrative commissions to its marketersRegistered in South Africa MTI claims it has recruited 76000 members from more than 170 countries Only since March 1 2025 MTI says it has recruited 22500 membersHowever TSSB says MTIs marketers are illegally soliciting Texans to purchase fraudulent investments in the cryptocurrency and forex trading poolThe Texan regulator asserts that investments in the cryptocurrency and forex trading pool are securities as that term is defined in Section 4A of the Securities ActThe cease and desist order says the four respondents are not registered with the Securities Commissioner as dealers and agents at the time when the securities where offered to TexansTherefore the respondents are engaged in fraud in connection with the sale of the securitiesTSSB also states that Forexandbitcoincom Cullision Herceg and Knott are acting as multilevel marketers for MTIThe four are accused of touting the profitability of not only the investments but the multilevel marketing program as wellMeanwhile TSSB also singles out Herceg for targeting Texans impacted by changes to the economy in the wake of COVID19