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A South African High Court recently granted a provisional liquidation order against Mirror Trading International (MTI) following an application for relief by two investors who failed to withdraw their bitcoin. According to a statement released by lawyers of one of the aggrieved investors, this provisional order paves the way for the appointment of a liquidator to take control of MTI\u2019s assets and liabilities. <\/strong><\/p>\n The order by the Cape Town court came after the Financial Sector Conduct Authority (FSCA) reported<\/a> receiving complaints from investors who failed to withdraw invested funds. The court\u2019s decision also follows reports that Johann Steynberg, the CEO of the alleged online bitcoin scam platform, had skipped<\/a> the country.<\/p>\n At the same time, a statement released by MTI management alleges that Steynberg, who is no longer communicating with fellow executives, blocked his colleagues from accessing the company\u2019s funds. The management team says it is now working with law enforcement as it tries to recover investor funds.<\/p>\n Meanwhile, as one local publication reports<\/a>, the court\u2019s provisional order also calls on \u201ccreditors and interested parties to reconvene in early March to show why a final liquidation order should not be granted.\u201d However, in the meantime, the provisional order \u201cwill now be served on MTI\u2019s registered business premises.\u201d<\/p>\n <\/ins> <\/ins> <\/p>\n Nevertheless, the report explains that there are doubts that the court can successfully serve the CEO with the order since his exact whereabouts are unknown. News.bitcoin.com has previously reported that Steynberg fled to Brazil and left his wife Nerina in control of MTI\u2019s funds.<\/p>\n Furthermore, MTI\u2019s former lawyers, Ulrich Roux, and Associates confirmed in a December 21 letter that the CEO had left South Africa. Interestingly, the lawyers used the same letter to announce the end of their business relationship with MTI.<\/p>\n In the meantime, the law firm that represents one of the investors that approached the court, Luitingh, and Associates, says it is willing to assist other creditors and aggrieved investors to lodge claims against MTI. Aggrieved investors can download the liquidation form<\/a> from a website dedicated to victims of the MTI scam.<\/p>\n Do you believe that MTI investors will succeed in recovering all the lost funds? Tell us what you think in the comments section below.<\/strong><\/em><\/p>\n The post South African Court Grants Order to Liquidate Mirror Trading International After Investors Fail to Withdraw Their BTC<\/a> appeared first on Bitcoin News<\/a>.<\/p>\nProvisional Order<\/h2>\n
MTI Ditched by Lawyers<\/h2>\n