Offer to have Mti Ponzi explained to be illegal, suffers setback - more investors oppose the application -

A number of late court applications from lawyers, which represented investors from Mirror Trading International (MTI), have forced a South African judge to dislike the liquidator's application to explain the online bitcoin fraud as an illegal business.

concern about the effects of the declaration arrangement

as mybroad band test report explains that investors' delayed decisions of opposing the application stir from the growing concern that such an explanation would give the liquidators too much power. Before the recent counter-applications, only Clynton and Cheri Marks-the co-masterminds of MTI-opposed the liquidators' application.

As the report states, other investors have now come to the conclusion that the liquidators could "strive for power that would enable them to recalculate the payouts of all members, even if they have lost money as part of the system".

In other cases, investors were warned if "MTI is declared as a pyramid or ponzi, then all profits would be declared as revenues of a criminal company and would fall into the state." This means that instead of receiving part of your invested funds after completing the liquidation procedure, you would also pay back what you have withdrawn.

liquidators reject claims

Nevertheless, liquidators have refuted the claims according to the report. They insist that they are "only entitled to reclaim payments to investors who have not been legally due to them".

mti, the brand largest Bitcoin was in 2020, collapsed after the company leader Johann Steynberg disappeared. Since then, there have tried to regain all Bitcoins in connection with MTI, but have been on mainly from the Marksen. However, some believe that if they are equipped with the explanation, some believe that they will be able to pursue people who have benefited inappropriately from the system without betting many legal hurdles.

In the meantime, the order of the judge, in addition to the determination of the new hearing date, also indicates the applicants to supplement their affidavit to support the legal remedies they have requested by September 30, 2021 to add another affidavit if they decide.

In a similar way, both opponents and supporters of the application to "have MTI explain as illegal, until September 30, 2021 time to submit an affidavit for it".

do you agree with the demand of the liquidators to have MTI explained to be illegal? Tell us your opinion in the comments below.

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