Mirror Trading International pyramid hearing delayed to 2022
The hearing to decide official classify Mirror Trading International as a pyramid scheme has been delayed.
What was a relatively straight-forward case, albeit slow-moving, has since devolved into a circus.
At a hearing on Wednesday September 8th, no less than twenty lawyers attended proceedings.
As reported by Jan Vermeulen at My Broadband, most of the attorneys were working in pairs.
In addition to representing representing liquidators and Clynton and Cheri Marks, a number of attorneys are also representing Mirror Trading International victims.
Between these teams of lawyers, they claimed to represent the interests of hundreds of members who had signed affidavits opposing the declaration of MTI is a pyramid or Ponzi scheme.
Turns out victims have gotten it into their heads that, should Mirror Trading International, be declared a pyramid scheme, they will have to pay back any money paid out.
This is not true.
Misinformation has been an ongoing issue throughout proceedings. Clynton and Cheri Marks (right) have faced no repercussions for spreading misinformation directly or indirectly among MTI investors.
Owing to the new representation, parties have been given new deadlines to respond and participate in proceedings.
The deadline for paperwork is January 31st, 2022. Following roughly four weeks for Acting Justice Alma de Wet to go through everything, a hearing has been scheduled for March 2nd.
Nothing is going to happen. The Tigon case is still dragging on 15 years later in SA with the principal accused likely to die before any resolution or anyone getting any funds back
An article on crypto scams in Africa, including MTI: