In what is seen as a boost for Mirror Trading International (MTI) investors, U.S. investigators have reportedly joined the investigation into the collapsed Bitcoin system. According to a report, the objective of US investigators in joining this investigation is to help “recover the assets of direct investors.”
The confirmation of the US Federal Bureau of Investigation’s involvement in the MTI case comes just days after reports were released that the masterminds of the program had filed a request to block the liquidation process. As Bitcoin.com News reported, the app also opposes attempts to declare MTI – which has been called the biggest bitcoin scam – an illegal business.
Despite this and other attempts to stop the proceedings against MTI, the Bloomberg report suggests that the US law enforcement agency is already hiring liquidators of MTI. The report explains:
[Liquidators] had meetings with international law enforcement agencies like the Federal Bureau of Investigation [FBI], after being approached by them. The FBI is partnering with the liquidators of Mirror Trading International for the benefit of several US and local investors.
While the majority of MTI’s investors are said to be based in South Africa, a significant number of the company’s 260,000 investors are also reportedly based outside the country. In fact, as past actions of US regulators already indicate, some of these investors are based in the US and this helps explain the FBI’s interest in the matter.
Liquidators reject brand claims
In the meantime, the Bloomberg report also cites MTI liquidators responding to claims by Cheri and Cylnton Marks that declaring MTI an illegal business would be detrimental to investors’ interests. The liquidators explained:
It is not correct that declaring MTI’s business model a fraudulent and illegal scheme would allow the liquidators to seize all the money that flowed into the scheme. The liquidators will only have the right to recover payments made to investors which were not legally due to them.
According to the liquidators, the funds recovered will only be “spent to reimburse the real victims of ATM”.
Do you think the involvement of the FBI will increase the chances of recovering the funds? Let us know what you think in the comments section below.
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