Apart from conspiracy theories (appealing as they might be) and amount of "naughtiness", there is a lot to try and unravel to develop a straightforward case to give to the NPA. MTI has done a pretty good job of building a whole set of stories behind which to hide. There is only one way to get a quick solution and that is for them to not be able to make withdrawal payments. THAT makes it possible to nail them as a Ponzi easily.
Showing that it is a pyramid that isn't the same as HerbalLife might flounder on how the recruitment bonuses differ from legal recruitment incentives. Similarly, showing that governance and administration does not meet Companies Act regulations needs considerable delving and probably showing that it isn't a Pty but a CIS.
The argument that bitcoin isn't regulated can be shown to be crap because it meets the criteria of the Howey test fully. As used here it meets the criteria of a security and therefore puts MTI solidly under FASC regulation.
I am as impatient as anyone to see MTI come to a sticky end, but I realise that it isn't an easy process to get it done legally. So to borrow from lindbolletjies, "be patient"!
Showing that it is a pyramid that isn't the same as HerbalLife might flounder on how the recruitment bonuses differ from legal recruitment incentives. Similarly, showing that governance and administration does not meet Companies Act regulations needs considerable delving and probably showing that it isn't a Pty but a CIS.
The argument that bitcoin isn't regulated can be shown to be crap because it meets the criteria of the Howey test fully. As used here it meets the criteria of a security and therefore puts MTI solidly under FASC regulation.
I am as impatient as anyone to see MTI come to a sticky end, but I realise that it isn't an easy process to get it done legally. So to borrow from lindbolletjies, "be patient"!
