Three members of Finalmente Global have applied for a provisional liquidation order against the company from the Gauteng High Court.
This follows a notice published to the Finalmente website informing its members that it was shutting down after losing “a substantial amount of money”.
Finalmente was a bitcoin-based multilevel marketing scheme which claimed to operate a business that takes bitcoin investments from members to buy online advertising space “in bulk”.
In its final message to members, Finalmente stated that it was invested in Mirror Trading International (MTI), and that MTI was one of its larger clients.
Finalmente also stated that a large portion of its clients cancelled due to the “false impression of [its] association with MTI”, causing it to lose a significant proportion of its income.
MTI was also a bitcoin-based multilevel marketing scheme which failed at the end of 2020. It claimed to offer a trading pool where an automated software program traded cryptocurrencies on members’ behalf and paid them a portion of the profits.
A provisional liquidation order was granted against MTI on 29 December.
MyBroadband asked Finalmente Global about the apparent contradiction in its statement that it was associated with MTI, yet its clients had a false impression about the association.
“We have forwarded this to our legal team for comment and have been advised that at we cannot comment on the questions posed, at this stage,” Finalmente Global Kobus van der Merwe said.
The attorneys who brought the liquidation application against Finalmente Global are the same ones that brought the successful application against MTI — Vezi & De Beer.
The advocate leading the charge in these liquidation applications is Vaughn Victor. Victor is currently embroiled in several other cases against scams such as Mirror Trading International, VaultAge Solutions, Bitclub Network, BTC Global, and Thrive International.
Victor told MyBroadband that he is acting pro bono in all of these cases.
The liquidation application against Finalmente is set to be heard on 12 January 2021.
The full application is embedded below.