{"id":9094,"date":"2021-07-03T14:54:05","date_gmt":"2021-07-03T14:54:05","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/south-african-court-grants-final-liquidation-order-against-the-biggest-cryptocurrency-scam-in-2020\/"},"modified":"2021-07-03T14:54:05","modified_gmt":"2021-07-03T14:54:05","slug":"south-african-court-grants-final-liquidation-order-against-the-biggest-cryptocurrency-scam-in-2020","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/south-african-court-grants-final-liquidation-order-against-the-biggest-cryptocurrency-scam-in-2020\/","title":{"rendered":"South African Court Grants Final Liquidation Order Against the \u2018Biggest Cryptocurrency Scam in 2020\u2019"},"content":{"rendered":"<p><strong>A South African judge, Justice Alma de Wet, has ruled in favor of granting a final liquidation order against Mirror Trading International (MTI), the country\u2019s biggest bitcoin scam in the past year. Nevertheless, the judge postponed a ruling on an application by MTI liquidators to have the company declared an unlawful business to September 8, 2021.<\/strong><\/p>\n<p>According to a <a href=\"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/391313-bitcoin-worth-r1-billion-recovered-from-mirror-trading-international-broker.html\">report<\/a>, interested parties that are opposed to the liquidators\u2019 intervening application now \u201chave until July 30 to file their answering affidavits.\u201d On the other hand, liquidators \u201chave until August 13 to file responding affidavits and must file their heads of argument before 24 August.\u201d<\/p>\n<p>Meanwhile, the latest court ruling, which came almost six months after the provisional liquidation order was granted, represents a victory for liquidators who have faced opposition from MTI shareholders led by Clynton Marks. As previously <a href=\"https:\/\/news.bitcoin.com\/co-owner-of-mirror-trading-international-opposes-plans-to-liquidate-the-bitcoin-scam-outfit\/\">reported<\/a> by Bitcoin.com News, Marks, a 50% shareholder in MTI, argued against liquidation claiming this would prejudice investors.<\/p>\n<h2>MTI Shareholder Arguments<\/h2>\n<p>Together with other opponents of the liquidation proposal, Marks claimed that MTI was still solvent and that liquidating the company would be premature. In addition, the MTI co-owner raised a series of technicals arguments which according to him proves that the process that led to the granting of the provisional order was not handled properly.<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<p>After several delays, however, the liquidation hearing was finally held on June 15 with the judgment being delivered 15 days later. It remains unclear if the investing platform\u2019s assets and <a href=\"https:\/\/news.bitcoin.com\/a-forex-broker-transfers-1200-btc-belonging-to-the-mirror-trading-international-to-a-south-african-liquidator\/\">proceeds<\/a> from the sale of recovered MTI bitcoins are going to be sufficient to meet all claims against the company.<\/p>\n<p><em><strong>Does the liquidation of Ponzi operations like MTI help the cause of the victims? Tell us what you think in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nRegulation, Bitcoin, Clynton Marks, cryptocurrency scam, final liquidation, Mirror Trading International (MTI), MTI bitcoin scam<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A South African judge, Justice Alma de Wet, has ruled in favor of granting a final liquidation order against Mirror Trading International (MTI), the country\u2019s biggest bitcoin scam in the past year. Nevertheless, the judge postponed a ruling on an application by MTI liquidators to have the company declared an unlawful business to September 8,&hellip;<\/p>\n","protected":false},"author":0,"featured_media":9095,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-9094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9094"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=9094"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9094\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/9095"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=9094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=9094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=9094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}