Battle for MTI’s leftovers gets messy

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About R1.1 billion is already in the liquidators’ bank account thanks to bitcoin that was tracked down and sold. Photo: iStock
About R1.1 billion is already in the liquidators’ bank account thanks to bitcoin that was tracked down and sold. Photo: iStock

BUSINESS

The fight over the remnants of the Mirror Trading International Investment Scheme (MTI) is becoming increasingly messy, with four parties last week opposing a court application to have the scheme declared illegal from its inception.

If the application by the provisional liquidators succeeds, they would be able to reclaim all money made by investors from this bitcoin investment scheme – even commission paid out for the recruitment of new members. What investors have ploughed in will first be deducted to calculate those profits.

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