Liquidators of Mirror Trading International (MTI) have attacked the claim that declaring the collapsed bitcoin investment platform an unlawful scheme would jeopardize investors’ chances of recovering their funds.
The Claim Not Supported
South African liquidators for Mirror Trading International (MTI), have dismissed the claims that declaring the collapsed Bitcoin investment platform illegal would mean victims lose everything. The liquidators suggested that the “unsubstantiated” claim is being propagated by a few MTI investors and their legal representatives.
Mybroadband reports that cites a circular by Investrust claim that the liquidators insist that no evidence is available to support the claims. It stated:
All evidence available is overwhelming. MTI was an enormous fraud scheme. This will not change.
The liquidators also warned MTI investors who stand to lose everything that they should not be hoodwinked by claims that the business only collapsed due to “bad trading.” In their circular, the liquidators insist MTI was from the start a “scheme run by top-tier investors and promoters to milk bitcoin from later investors and the lower tiers daily.”
MTI Not Solvent
Meanwhile, the report suggested that liquidators — whose High Court application to have MTI liquidated is set to be heard on March 2, 2022 — were seemingly forced to respond to claims being made by Hendrik van Staden, a lawyer who represents a group of creditors. Van Staden, who reportedly advised his clients that they would lose all their investments, also stated that everything would be taken to the state in the event that MTI was declared an illegal business.
“This statement is completely wrong and disingenuous. This is the trite legal situation. It is irresponsible and shockingly inaccurate statements like this, that cause investors to unfairly question the motives and integrity of the liquidators,” the liquidators said in their response to Van Staden’s claims.
The liquidators supported claims that MTI is still solvent in their circular. According to them, the increasing number of MTI claims means that creditors are likely to owe more than the 1,282 Bitcoins recovered so far.
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