{"id":15060,"date":"2021-12-07T14:54:07","date_gmt":"2021-12-07T14:54:07","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/report-mirror-trading-international-said-to-be-owed-over-129-million-by-previously-unaccounted-for-debtors\/"},"modified":"2021-12-07T14:54:07","modified_gmt":"2021-12-07T14:54:07","slug":"report-mirror-trading-international-said-to-be-owed-over-129-million-by-previously-unaccounted-for-debtors","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/report-mirror-trading-international-said-to-be-owed-over-129-million-by-previously-unaccounted-for-debtors\/","title":{"rendered":"Report: Mirror Trading International Said to Be Owed Over $129 Million by Previously Unaccounted for Debtors"},"content":{"rendered":"<p><strong>Mirror Trading International, the now-defunct fraudulent bitcoin investment platform, is said to be owed more than $129 million by debtors that had not been declared previously. <\/strong><\/p>\n<h2>Unaccounted for Debtors<\/h2>\n<p><span>Liquidators of the collapsed South African bitcoin Ponzi scheme, Mirror Trading International (MTI), recently released a statement that suggested the scheme is owed as much as $129.6 million (2.07 billion rands) by previously unaccounted for debtors. <\/span><\/p>\n<p><span>According to a <a href=\"https:\/\/www.moneyweb.co.za\/moneyweb-crypto\/mti-liquidators-chasing-down-an-additional-r2bn-in-possible-debtors\/\">report<\/a> by Moneyweb, preliminary investigations by liquidators also show that MTI had assets valued at over $190 million. However, the report said liquidators conceded they still needed to carry out more investigations. <\/span><\/p>\n<p><span>These reports of fresh claims against MTI follow the confirmation by liquidators that they had successfully applied for the liquidation of JNX Online, a firm that is allegedly controlled by Johann Steynberg, the scheme\u2019s former CEO.<\/span><\/p>\n<p><span>As explained in the report, Steynberg and his wife, Nerina, had allegedly used JNX Online to buy and sell bitcoins. The same company was also used to make payments to MTI\u2019s creditors and to Nerina. <\/span><\/p>\n<\/p>\n<h2>Legal Action Option<\/h2>\n<p><span>The liquidators, according to the report, believe that legal action \u2014 which enables them to investigate fraudulent claims against MTI \u2014 might be required. Besides the mooted legal action, the report said \u201ccrypto specialists\u201d have since been appointed to assist in quantifying and identifying claims that were obtained from MTI\u2019s back-office platform.<\/span><\/p>\n<p><span>Before running into legal and regulatory <a href=\"https:\/\/news.bitcoin.com\/south-african-crypto-investment-company-issued-cease-and-desist-order-in-texas\/\">troubles<\/a>, MTI projected itself as a legitimate bitcoin investment platform with some 300,000+ investors. Yet as the findings of an investigation by liquidators show, the number of investors is in fact well below that. <\/span><\/p>\n<p><span>Meanwhile, the Moneyweb report said liquidators will continue to investigate the circumstances leading to the collapse of MTI \u201cby way of Section 417 and 418 enquiries in terms of the Companies Act.\u201d<\/span><\/p>\n<p><em><strong>What are your thoughts about this story? Tell us what you think in the comments section below. <\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nRegulation, Bitcoin Ponzi scheme, Bitcoins, Johann Steynberg, Mirror Trading International (MTI), MTI liquidation, MTI liquidator<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mirror Trading International, the now-defunct fraudulent bitcoin investment platform, is said to be owed more than $129 million by debtors that had not been declared previously. Unaccounted for Debtors Liquidators of the collapsed South African bitcoin Ponzi scheme, Mirror Trading International (MTI), recently released a statement that suggested the scheme is owed as much as&hellip;<\/p>\n","protected":false},"author":0,"featured_media":15061,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-15060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15060"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=15060"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/15061"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=15060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=15060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=15060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}