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Investigators from the Hawks probing bitcoin trading platform Mirror Trading International are working with colleagues investigating an earlier alleged bitcoin scam uncovered in 2018, called BTC Global.
BTC was a South African cryptocurrency trading platform that imploded in 2018 after its founder trader abruptly vanished, leaving over 25 000 members unable to withdraw their investments.
Two and half years later, Mirror Trading International - another cryptocurrency trading platform promising lavish returns, was placed into provisional liquidation after its founder disappeared.
Investigators from the Hawks probing bitcoin trading platform Mirror Trading International (MTI) – which was provisionally liquidated last month and whose CEO has hasn t been heard from in weeks, are working with colleagues investigating an earlier alleged bitcoin scam uncovered in 2018.
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Finalmente Global placed in final liquidation as MTI dominoes start falling
Pretoria High Court skips the provisional step and jumps straight to final liquidation for the first MTI-linked organisation to fall. More are expected. 14:54
Fletcher says Finalmente can be classified as a multi-level marketing scheme where investors or members earn commissions for introducing new members.
Finalmente Global, a company which purported to be an advertising company but appears to have been linked to the now-collapsed Mirror Trading International (MTI), was placed in final liquidation in the Pretoria High Court on January 12.
This follows an application to the court by three Finalmente Global investors: Robert and Candice Fletcher, and Marcel Beech.
As MTI Bitcoin dominoes start to fall Finalmente Global placed liquidation Ciaran Ryan
MTI promised investors up to 10% return a month using a computerised trading system, first trading forex, then bitcoin, although the Financial Sector Conduct Authority (FSCA) could not find any evidence of trading success by the company. Picture: GETTY IMAGES NORTH AMERICA/AFP/GEORGE FREY Liquidators are expected to be appointed by the court in the coming days, and will then be tasked with tracing whatever assets remain in the company.
Finalmente Global, a company which purported to be an advertising company but appears to have been linked to the now-collapsed Mirror Trading International (MTI), was placed in final liquidation in the Pretoria High Court on January 12.
Money down the drain: Bitcoin scheme Mirror Trading International to be liquidated Ciaran Ryan , Moneyweb
MTI promised investors up to 10% return a month using a computerised trading system, first trading forex, then bitcoin, although the Financial Sector Conduct Authority (FSCA) could not find any evidence of trading success by the company. Picture: GETTY IMAGES NORTH AMERICA/AFP/GEORGE FREY Anyuschka Nett, senior attorney with Luitingh Attorneys, says creditors can now start to submit claims in anticipation of the final liquidation order being granted.
The Master of the Cape High Court has appointed four provisional liquidators to track down whatever assets they can from Mirror Trading International (MTI), the bitcoin investment scheme that stopped paying out memb