A clearer picture is emerging of the Mirror Trading International (MTI) scam that relieved tens of thousands of people around the world of their bitcoin (BTC) almost a year ago.
MTI was placed in provisional liquidation in December 2020, and final liquidation in July this year, when it was disclosed that liquidators had recovered 1 281 BTC from Belize-based broker FXChoice. A total of R1.05 billion was recovered from the sale of this BTC.
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The latest report by the liquidators published last week shows ‘possible debtors’ of R2.07 billion.
The final liquidators – appointed by the Master of the High Court on November 5 – are Riaan van Rooyen (Investrust Insolvency Practitioners), Herman Bester (Tygerberg Trustees), Jacolien Barnard (Barn Trust), Deidre Basson (Tshwane Trust), Christopher Roos (Sebenza Trust) and Chavonnes Coopers (CK Trust).
Preliminary investigations show total assets of about R3.1 billion, though further investigation is required to firm up the figures.
In their hunt for assets belonging to the estate of MTI, the liquidators successfully brought an application for the liquidation of JNX Online, a company controlled by former MTI CEO Johann Steynberg and his wife Nerina.