Legal eagles in MTI case are worried about what might happen if it is declared a pyramid scheme

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Shocking twist in multi-billion Mirror Trading International case

Startling allegations against the liquidators of Mirror Trading International (MTI) and the Financial Sector Conduct Authority have come to light in court papers filed to oppose the declaration of the scheme as an illegal business.

Controversial MTI stalwarts Clynton and Cheri Marks filed the counter-application, arguing that members stand to forfeit everything to the state should it be declared a pyramid or Ponzi scheme.
 
Please can it be declared as a pyramid scheme. Why don't we hear anything from Lindt bolletjies?
 
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Shocking twist in multi-billion Mirror Trading International case

Startling allegations against the liquidators of Mirror Trading International (MTI) and the Financial Sector Conduct Authority have come to light in court papers filed to oppose the declaration of the scheme as an illegal business.

Controversial MTI stalwarts Clynton and Cheri Marks filed the counter-application, arguing that members stand to forfeit everything to the state should it be declared a pyramid or Ponzi scheme.
Members have already forfeited everything to the liquidators and will likely get squat. If it's deemed a pyramid scheme (which it is, mind you), then at least some people get to see the inside of tjoekie, not?
What kind of a legal system allows it to be defined other than what it actually is anyhow based on who gets the money? Come on!
 
Just doublecheck that 29 June statement account number if it isn't a demo account number.

FXchoice and pretty much every other broker will send statements like that on real money and demo account trading.
 
Members have already forfeited everything to the liquidators and will likely get squat. If it's deemed a pyramid scheme (which it is, mind you), then at least some people get to see the inside of tjoekie, not?
What kind of a legal system allows it to be defined other than what it actually is anyhow based on who gets the money? Come on!

Complexity can arise when a scheme transitions from legitimate to illegitimate. Then a judge has to decide at what date this took place, and those who withdrew after that date will have to repay. Of course if the whole thing was a scam, that means going back years into the past.
 
Complexity can arise when a scheme transitions from legitimate to illegitimate. Then a judge has to decide at what date this took place, and those who withdrew after that date will have to repay. Of course if the whole thing was a scam, that means going back years into the past.
And this should rightfully give the Marx' and every other shill a headache till the day they retire or the day they return the money... and that retirement should NOT be on any funds they stole.
 
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This thing is as deurmekaar as kots in 'n tuimeldroeer.

And yeah the only winners will be the top dogs of the scheme who stashed away plenty of BTC...and the lawyers and legal system who will stretch this out for years
 
Lindt Bolletjie has been cr@pping Ponzi schemes out with the assistance of Andrew Caw. Wouldn't be at all surprised if he was running interference again for Cheri on this one as he did for BTC.
BTW: His mommy was a top earner!
 
Why not focus on trying to convince the courts that MTI was not a ponzi, instead of trying to scare everyone that they going to lose everything?!

Oh wait. Its because it was a ponzi.
 
Please can it be declared as a pyramid scheme. Why don't we hear anything from Lindt bolletjies?

Isn't that Cheri Marks... who filed to the counter application? Thus we (the courts at least) are hearing from her.
 
Members have already forfeited everything to the liquidators and will likely get squat. If it's deemed a pyramid scheme (which it is, mind you), then at least some people get to see the inside of tjoekie, not?
What kind of a legal system allows it to be defined other than what it actually is anyhow based on who gets the money? Come on!
What kind of legal system doesn't allow the people who originally put money in to get it back?
 
Complexity can arise when a scheme transitions from legitimate to illegitimate. Then a judge has to decide at what date this took place, and those who withdrew after that date will have to repay. Of course if the whole thing was a scam, that means going back years into the past.
The issue here is that it NEVER was legitimate and there was no transition to illegitimate. Whether or not they did trade for a time is irrelevant.
 
The issue here is that it NEVER was legitimate and there was no transition to illegitimate. Whether or not they did trade for a time is irrelevant.

They did trade technically in the FX market I believe in 2019 or something but they were making consistent losses and burning through funds while claiming daily gains and that magical trading scheme collapsed then if I have the dates correct in 2020 they started the same thing all over again using BTC and this is the start of massive fraud and straight up zero actual trading.
 
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