THELOGICALINDIAN - The Texas State Balance Board TSSB issued a cease and abandon adjustment Wednesday adjoin on Mirror Trading International MTI Forexandbitcoincom and four individuals complex in a multilevel business scamOut of the four individuals Cornelius Johannes Steynberg is a citizen of South Africa while Micheal Aaron Cullison Steve Herceg and Brian D Knott accept US residential addressesIn its allegation area TSSB is alleging aboriginal that MTI is perpetrating a multilevel business aggregation that promises advantageous commissions to its marketersRegistered in South Africa MTI claims it has recruited 76000 associates from added than 170 countries Alone back March 1 2024 MTI says it has recruited 22500 membersHowever TSSB says MTIs marketers are illegally soliciting Texans to acquirement counterfeit investments in the cryptocurrency and forex trading poolThe Texan regulator asserts that investments in the cryptocurrency and forex trading basin are balance as that appellation is authentic in Section 4A of the Balance ActThe cease and abandon adjustment says the four respondents are not registered with the Balance Commissioner as dealers and agents at the time back the balance area offered to TexansTherefore the respondents are affianced in artifice in affiliation with the auction of the securitiesTSSB additionally states that Forexandbitcoincom Cullision Herceg and Knott are acting as multilevel marketers for MTIThe four are accused of touting the advantage of not alone the investments but the multilevel business affairs as wellMeanwhile TSSB additionally singles out Herceg for targeting Texans impacted by changes to the abridgement in the deathwatch of COVID19
Respondents accept 31 canicule to address the decision. If there are no representations, the four will face a accomplished of up to $10,000 or imprisonment if they abide operating.
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