The South African Mirror Trading International (MTI) pyramid has been finally liquidated. The investigation found another 8,000 BTC appropriated by the founders of the pyramid.
The Cape High Court approved the final liquidation of MTI this week, according to Moneyweb. The company was temporarily liquidated in December following numerous customer complaints of fraud. In January, South African regulators officially shut down Mirror Trading International.
Investigators found the 8,000 BTC collected by the organizers of MTI, worth about $ 268 million, in addition to the 1,281 BTC received from broker FX Choice. According to Moneyweb, the liquidators believe they will be able to trace the rest of the 29,000 BTC coins collected by MTI. The liquidators of the company will return to court on September 8 with a statement on the need to recognize MTI as a Ponzi scheme.
Recall that the Texas regulator ordered Mirror Trading International (MTI) to stop trading BTC and foreign currencies, calling the company a multi-level fraudulent scheme, back in July last year.
It was also reported last month that the founders of the South African investment platform AfriCrypt Amir and Raees Kajee have stolen 69,000 BTC from users. However, the founders of AfriCrypt deny these allegations. If the accusations against AfriCrypt are correct, this incident will outweigh Mirror Trading International’s losses.
