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Mirror Trading International’s Co-Owner Opposes Plans to End Bitcoin Scam Organization – Regulation Bitcoin News


In the latest twist in the Mirror Trading International liquidation saga, the co-owner of the Bitcoin Ponzi organization, Clinton Marks, has resisted attempts by the court to grant a final liquidation order. Marks, who reportedly owned 50% of MTI, argued that the liquidation application was “premature” and that the liquidators “may not be in the best interests of the members.”

Arguments Against Liquidation

As mentioned in mybroadband report goodMarx, who recently fought a team of MTI liquidators in a South African court, argues that the liquidation notification process was not carried out properly. Marx claims that notice should have been given to him and his wife, Cheri Marx (head of communications for MTI).

Furthermore, the co-founder of MTI says that health benefit Out of 1,200 bitcoins belonging to MTI from FX Choice, liquidators put an end to the insolvency argument. In his statement to mybroadband, Marques said:

MTI is a solvent company and any chance of any relief to the members (however minor) will come not from the liquidation process, but from finding Johann (Steinberg) and encouraging him to correct the wrongs he has allegedly committed. Furthermore, it is our belief that there are other options more appropriate for MTI members to possibly seek relief.

The statement also suggests that “members will be seriously prejudiced” if this liquidation process goes ahead.

judgment reserved

Meanwhile, the report said that sources inside the liquidator’s legal team are confident that a final liquidation order will be issued. The report also reveals that the court has reserved judgment in the case, which pits the Financial Sector Conduct Authority (FSCA) and court-appointed liquidators against parties opposing the company’s dissolution.

MTI, which was ranked as the biggest The 2020 bitcoin scam by a blockchain analysis firm collapsed after its CEO Johann Stenberg disappeared With investors’ funds in December 2020. The collapse later forced disgruntled investors to initiate liquidation proceedings against MTI and Stenberg.

Is Liquidation the Best Option for MTI Investors? Tell us what you think in the comment section below.

image credit: Shutterstock, Pixabay, WikiCommons

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