Mirror (non)Trading International 2 - The Fallout

PsyWulf · Dec 20, 2020

JSbot said:
Even under South African law inappropriate acts must be proven. Consulting a duly registered member of the legal fraternity, held in high regard is also reasonable due diligence, and then acting on that advice . What are we supposed to do if we seek opinion from a legal expert and it turns out his advice was wrong.

Cheriiiiiiiiiii

Nobody's buying you didn't know...again...

r00igev@@r · Dec 20, 2020

JSbot said:
Even under South African law inappropriate acts must be proven. Consulting a duly registered member of the legal fraternity, held in high regard is also reasonable due diligence, and then acting on that advice . What are we supposed to do if we seek opinion from a legal expert and it turns out his advice was wrong.

Report him to the bar if he was condoning criminal activity.

r00igev@@r · Dec 20, 2020

PsyWulf said:
Cheriiiiiiiiiii

Nobody's buying you didn't know...again...

Cheri has climbed off all the Telegram groups and graced us with her Lindtbolletjies? Can we get a Lindtbolletjies sponsor for Monday?

JSbot · Dec 20, 2020

But I didn't know, once I had a suspicion and consulted a recognised legal expert who advised me everything was legitimate , do I have to employ a legal panel ?

PsyWulf · Dec 20, 2020

JSbot said:
But I didn't know, once I had a suspicion and consulted a recognised legal expert who advised me everything was legitimate , do I have to employ a legal panel ?

See there's the problem: there are guidelines against multiplication/high yield schemes that say they are illegal.Having fiduciary and compliance duties as a director means you take responsibility for decisions you make.You can't merely wash your hands and say another party said its fine
This isn't a corner spaza shop,this is a collective investment scheme across country lines.The duty is that much higher

TheRoDent · Dec 20, 2020

Def-e-nition said:
Spider: could shillers Be prosecuted Simply due to their benefitting Out of Mti Financially?THey will obviously have profitted into the Millions.
CLyntons' video confessions of withdrawals, on MMM on you Tube , Still Give Me Nightmares .
6th grader Stuff. He sounds like he Was reading from a prompt machine .
I Sound jaded : it's because the Stuff worked , and people bought in regardless of How Stupid He Sounded.
F Me blind.............

Yeah the scary thing is how easily people are duped, by such simple messages.

TheRoDent · Dec 20, 2020

Mamajyot said:
I didn't see any facebook or WhatsApp statuses of Binary Bonuses dropping yesterday! bwahahah

The bot is snorting cocaine, off the breast side of 20 Apple Macbooks with loose morals.

JSbot · Dec 20, 2020

W

PsyWulf said:
See there's the problem: there are guidelines against multiplication/high yield schemes that say they are illegal.Having fiduciary and compliance duties as a director means you take responsibility for decisions you make.You can't merely wash your hands and say another party said its fine
This isn't a corner spaza shop,this is a collective investment scheme across country lines.The duty is that much higher

Will take years to prove if ever

Barbarian Conan · Dec 20, 2020

Def-e-nition said:
Spider: could shillers Be prosecuted Simply due to their benefitting Out of Mti Financially?THey will obviously have profitted into the Millions.
CLyntons' video confessions of withdrawals, on MMM on you Tube , Still Give Me Nightmares .
6th grader Stuff. He sounds like he Was reading from a prompt machine .
I Sound jaded : it's because the Stuff worked , and people bought in regardless of How Stupid He Sounded.
F Me blind.............

People sometimes can't help but trust "one of us".

PsyWulf · Dec 20, 2020

JSbot said:
Will take years to prove if ever

And

John Tempus · Dec 20, 2020

JSbot said:
But I didn't know, once I had a suspicion and consulted a recognised legal expert who advised me everything was legitimate , do I have to employ a legal panel ?

LMAO

Wary GOM · Dec 20, 2020

Spxdxrbxtxs said:
As directors they're culpable regardless of intent or belief.

That has been my point for a while now. By being given fancy titles, they become responsible for management of the company. In their arrogance, many have indicated that they are in charge of various functions - all one needs is to point at Penni's, Mike's or Monica's way of dealing with member's queries to demonstrate their central roles in MTI. JS is undoubtedly the one most involved but Cheri and Clynton at least are directly responsible for promoting and acting in managerial roles in an illegal pyramid scheme irrespective of whether it is a ponzi or not. Clynton is apparently the co-owner, so his balls are in the pliers.

The same will go for any of the recruiters who made presentations using the MTI materials. Monica, Penny etc etc will be complicit there. In the same way, unless they can prove that all the back-office creation was by JS alone, any of the likes of Claudette will be caught up because they will have known that the figures they were sending out were fabrications. Similarly, whoever produced the cockamamie "audit" will be drawn into the net.

Give the Maddoff ponzi a quick read and see how people around him were caught up.

Spxdxrbxtxs · Dec 20, 2020

JSbot said:
Even under South African law inappropriate acts must be proven. Consulting a duly registered member of the legal fraternity, held in high regard is also reasonable due diligence, and then acting on that advice . What are we supposed to do if we seek opinion from a legal expert and it turns out his advice was wrong.

Only applicable if the legal authority in question is considered an expert in said business.

Having said that, after overseeing Caw's case in BTC Global, Ulrich might rightly be considered a Ponzi expert.

Wary GOM · Dec 20, 2020

JSbot said:
Many countries will provide protection from liability for business directors provider it is not shown that they acted in bad faith and contrary to their obligations to the business, It will be a long and complex operation to obtain witnesses to specific acts which might be deemed inappropriate,

Granted that they like most of the members may be in trouble for actively participating in an illegal operation. They can however claim that they did so under the legal advice of a pre-imminent legal expert as mitigiating factors

Which will make it interesting to see how Ulrich Roux handle that.

quovadis · Dec 20, 2020

JSbot said:
Even under South African law inappropriate acts must be proven. Consulting a duly registered member of the legal fraternity, held in high regard is also reasonable due diligence, and then acting on that advice . What are we supposed to do if we seek opinion from a legal expert and it turns out his advice was wrong.

If you consider that show and dance as due diligence and solid legal advice you're even more naïve than you're claiming they are. Legal advice is only as good as the person giving it and it does not absolve anyone of wrongdoing or provide protection for those who rely on it. There have been plenty of wonderful people who thought their lawyers' views were good and landed up in legal jeopardy. It happens all the time.

What you're missing is that because crypto is unregulated does not mean that any activity facilitated by crypto is not subject to laws governing such activities. eg. The collective investment scheme act is applicable to any activity where anything is held collectively and invested. This whole notion that crypto is not fiat and thus not subject to any financial legislation is moot.

Spxdxrbxtxs · Dec 20, 2020

scud said:
"PRUDLY" SOUTH AFRICAN

There. Fixed it for you.

Wary GOM · Dec 20, 2020

Spxdxrbxtxs said:
Only applicable if the legal authority in question is considered an expert in said business.

Having said that, after overseeing Caw's case in BTC Global, Ulrich might rightly be considered a Ponzi expert.

That is where the information that either Ulrich Roux or one of his associates was a member would be devastating to them.

Wary GOM · Dec 20, 2020

quovadis said:
If you consider that show and dance as due diligence and solid legal advice you're even more naïve than you're claiming they are. Legal advice is only as good as the person giving it and it does not absolve anyone of wrongdoing or provide protection for those who rely on it. There have been plenty of wonderful people who thought their lawyers' views were good and landed up in legal jeopardy. It happens all the time.

What you're missing is that because crypto is unregulated does not mean that any activity facilitated by crypto is not subject to laws governing such activities. eg. The collective investment scheme act is applicable to any activity where anything is held collectively and invested. This whole notion that crypto is not fiat and thus not subject to any financial legislation is moot.

100% except that the issues of whether bitcoin is fiat or not is actually completely irrelevant. It is being given to MTI and traded for profit and is a security.

Wary GOM · Dec 20, 2020

PsyWulf said:
And

In some ways, that will be the ideal thing to have happen. If many of the shills are tied up with legal wrangle for years, especially civil cases, they will be rather unhappy bunnies.

Venator · Dec 20, 2020

Any recordings of the latest zoom call?

Mirror (non)Trading International 2 - The Fallout

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