A dividend of 50c to 60c in the rand is reportedly imminent.
Liquidators for crypto Ponzi scheme Mirror Trading International say roughly 10 000 members – out of the hundreds of thousands that signed up – could receive a dividend payout of 50c to 60c in the rand.
It is still unclear how many people actually participated in the scheme, as many were registered with MTI under the names of family members, domestic servants, even pets. This likely inflated the actual number of participants, as members could earn 10% commissions for referrals, which provided an incentive to make multiple deposits under different names.
Read: Court rules MTI a Ponzi scheme In August, the US Western District of Texas court ordered MTI to refund $1.73 billion after defrauding more than 23 000 US residents through an “unregistered commodity pool”. “Defendants [MTI and Steynberg] misappropriated, either directly or indirectly, all of the Bitcoin they accepted from pool participants,” says the Texas court ruling.
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