In the latest twist in Mirror Trading International’s liquidation saga, Clynton Marks, a co-owner of the Bitcoin Ponzi outfit, has spoken out against attempts to get a court to issue a final liquidation order. Marks, who allegedly owned 50% of MTI, argues that the liquidation motion was “premature” and that liquidators “do not have the wellbeing of the members in mind”.
The argument against liquidation
As explained in a Mybroadband report, Marks, who recently fought a team of MTI liquidators in a South African court, argues that the liquidation process was not properly conducted. Marks claims that the notice should be served on him and his wife, Cheri Marks, Head of Communications at MTI.
Additionally, the MTI co-founder says the recovery of 1,200 bitcoins from MTI from FX Choice nullifies the liquidators’ bankruptcy argument. In their statement to Mybroadband, the Markses added:
MTI is a solvent company and every chance for the members (even if it is small) of discharge would not result from the liquidation process, but rather from the search for Johann (Steynberg) and the legitimate encouragement to correct all injustices allegedly committed. In addition, in our opinion, other options are more suitable to possibly relieve the MTI members.
The statement also suggests that if this liquidation process were continued, “Members would be seriously disadvantaged”.
Subject to judgment
Meanwhile, the report states that its sources within the liquidators legal team are confident that a definitive liquidation order will be issued. The report also shows that the court has reserved judgment for the time being in the case in which the Financial Sector Conduct Authority (FSCA) and court-appointed liquidators come up against parties who oppose the company’s dissolution.
Named the Biggest Bitcoin Scam of 2020 by a blockchain analytics firm, MTI collapsed after its CEO Johann Steynberg disappeared with investor money in December 2020. The collapse then forced angry investors to initiate liquidation proceedings against MTI and Steynberg.
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