The liquidators say they have not managed to recover any funds of significant value. Moneyweb cryptos bitcoin cryptoscam
A better picture has emerged of what happened to the R1.4 billion ploughed by investors into forex trading company Imagina FX, which was placed in liquidation in October 2020 when the company put a freeze on withdrawals. In May this year, court-appointed liquidator Christian Bester of JJS Administrators sent out a notice to investors, and it’s not good news. Of the R1.42 billion deposited into Imagina FX, only roughly R280 million was used for trading.
Creditors voice fury at MTI liquidators after all investor claims rejected Investigations by the Financial Sector Conduct Authority found no evidence of any successful trading by MTI, and the liquidators have asked the court to declare it a Ponzi scheme, in which case all payouts received by investors would have to be returned. It is not certain that the same fate awaits Imagina FX investors, though funds paid out to Massyn’s family trusts and other beneficiaries could certainly be targeted.
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