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Civil Mirror Trading International liquidation processes continue as South African authorities do nothing.

A ten-page temporary order detailing genuine victims of the scam versus net winners is the most recent.

MTI’s liquidators have been told to classify bitcoin deposited in the Ponzi scam as “property” by the High Court’s judgment from August 31.

Following that, liquidators will divide up MTI investors into the following categories:

Victims who invested but received nothing from MTI are considered Class 1 Investors.

Class 2 Investors: People who lost money after investing, yet still came out ahead.

Scumbags who stole money through MTI are considered Class 3 Investors.

Investors belonging to Classes 1 and 2 must submit claims in South African Rand, computed at the time of investment.

Please take note that claims for back office sums of Monopoly Money are not accepted. Only what the Class 1 and 2 Investors invested is recoverable.

The court permitted liquidators to pursue Class 3 Investors by the Insolvency Act. I’m not clear why Class 3 Investors would file claims, which appears to be a need for this.

As this is a preliminary ruling, the High Court has not yet given its blessing to any of this.

The deadline for complaining to the court over the order (Clinton and Cheri Marks, etc.) is October 31. The court will probably make the order final once those objections have been addressed.

The purpose of the MTI liquidation procedures is still unclear. The Revenue Service of South Africa said back in July that they intended to seize more money than had already been collected.

Sorting investors into victim categories is mostly meaningless unless someone takes action against the Marks criminal family and other insiders at MTI.

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