MTI investors fight

COURT: CRYPTO 'EXPERT' IS EARNING 5% OF ALL BITCOIN RECOVERIES

- Ciaran Ryan

RECOVERIES. US investors say Pedersen – who admitted in court that he is not much of an expert – could make as much as $160 million. Picture: Bloomberg

(Bloomberg)

Explosive new evidence filed in a US bankruptcy court last week exposes some of the inner workings of the Mirror Trading International (MTI) liquidation process.

Several US investors are asking the bankruptcy court in southern Florida to scratch any evidence provided by MTI crypto expert Craig Pedersen after it was discovered that he was earning both an hourly rate of R2 000 for his services, as well as 5% on any bitcoin recoveries.

Pedersen failed to disclose his compensation arrangement with MTI and “testified falsely and evasively” when questioned under oath by the US court, according to papers before the Southern District of Florida bankruptcy court in Fort Lauderdale.