MTI opposes final liquidation
Mirror Trading International (MTI), suspected of fleecing investors of up to R8bn, put a spanner in the works by informing the Western Cape High Court that the company is opposing a final liquidation.
According to a Beeld report, the liquidation matter had to be postponed yesterday until May.
The court placed MTI under provisional liquidation in January and the Master appointed four provisional liquidators to investigate the scheme.
MTI has more than 280 000 investors queuing for the return of their money and has been described as one of the largest crypto currency scandals in the world.
The chief executive, Johann Steynberg (37), has since disappeared and nobody has had contact with him since January.
Lawyers for MTI yesterday informed the court that they have been instructed to oppose the liquidation and need time to study the outcome of an investigation by the Financial Sector Conduct Authority.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
