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MTI liquidators, SARS settle tax dispute for R283 million | Business

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The liquidators for bitcoin Ponzi scheme Mirror Trading International say they have reached a R283-million settlement with the SA Revenue Service after months of negotiations. | News24_Business

The agreement means there will be more available in the"pot" for creditors and investors who lost hundreds of millions of rands when MTI collapsed.

Its liquidators have recovered 1 281 bitcoin – which they have already cashed in for just over R1 billion - from FXChoice, an online forex broker which froze MTI's assets three years ago. Last month, a US court found that MTI founder Johann Steynberg"misappropriated" an eye-watering 27 574 bitcoin. In proceedings before SA courts, estimates of the number of"missing" bitcoin have ranged from around 3 000 to 10 000.awaiting a hearing to determine whether he should be extradited to South Africa. In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.

 

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