Liquidators for Mirror Trading International (MTI) in South Africa have refuted accusations that declaring the collapsed bitcoin investment platform an illegal organisation will result in victims losing their whole investment. A few MTI investors and their legal representatives, according to the liquidators, are spreading the ‘unsubstantiated’ assertion.
The liquidators, according to a Mybroadband report citing an Investrust circular, are adamant that there is no evidence to back up the claims.
According to the liquidators, MTI investors who stand to lose everything should not be deceived by claims that the firm merely failed due to “bad trading.” The liquidators claim in their circular that MTI was always a “scheme run by top-tier investors and promoters to milk bitcoin from later investors and the lower tiers on a daily basis.”
The report showed that liquidators were required to react to claims made by Hendrik van Staden, a lawyer representing a group of creditors, whose High Court suit to have MTI liquidated is slated to be heard on March 2, 2022. Van Staden has reportedly told his clients that if MTI is ruled an unlawful business, they will lose everything.
It’s a wrap for this story.
