A liquidation meant to recover stolen money from Mirror Trading International has stalled for over a year, leaving victims empty-handed while court-appointed liquidators dodge accountability.

MTI collapsed in late 2020. Rather than prosecuting the scammers, authorities threw the company into liquidation. Now, nearly two years later, victim restitution remains stuck in limbo. A circular issued to creditors on February 11th after a second meeting on February 4th reveals why: the liquidators are making excuses instead of doing their job.

During the meeting, liquidators rejected criticism as "unfounded allegations." When pressed, they offered vague reassurances about maintaining an "open-door policy" for creditors. The promise rang hollow.

The real problem emerged when liquidators explained their reluctance to communicate directly with creditor groups. Their concern sounds reasonable on paper—they claim groups contain "winners and losers" with conflicting interests. But this objection collapses under scrutiny. A single communication portal would solve the issue instantly. Instead, liquidators demand that creditors police themselves, requiring groups to internally verify that all members have identical financial interests before reaching out.

This is absurd. The liquidators hold the lists. They know who invested what. They could verify creditor status tomorrow if they wanted to. Instead they're passing the buck, expecting victims to do administrative work that should be handled by professionals paid to do exactly this.

The claims process has become a farce. Liquidators insist they're not rejecting all victim claims, calling such talk "misinformation." Yet the facts contradict them. The Master of the Court rejected all victim claims as "illegible." Someone stuffed up the paperwork—either the liquidators submitted defective claims knowing they'd be rejected, or they failed to provide victims with clear instructions on how to file properly.

Either way, liquidators deserve blame. Their job is to collect claims, validate them, and present them to court in a format the court will accept. The circular reveals they don't even know what the court wants. Yet they keep encouraging victims to file anyway, creating a bureaucratic dead end.

The circular's language about "wrong perceptions" and "misinformation being spread to discourage actual creditors" reads like gaslighting. Victims watched their money disappear into a known scam. They're filing legitimate claims. When those claims get rejected as illegible, that's not misinformation—that's evidence of failure.

Liquidators need to get specific. They must tell victims exactly what documentation is required, in what format, by what deadline. They must validate each claim before submission. They must explain precisely why the court rejected previous filings and what needs fixing.

Until that happens, the circular to creditors is just another excuse dressed up in bureaucratic language. And Mirror Trading International's victims will remain where they've been for over a year: waiting, with nothing.

🤖 Quick Answer

What is Mirror Trading International and what led to its liquidation?
Mirror Trading International (MTI) was a trading company that collapsed in late 2020 following fraud allegations. Rather than pursuing criminal prosecution against those responsible for the scam, authorities initiated a liquidation process intended to recover stolen funds and compensate affected victims through court-appointed liquidators.

Why has the MTI liquidation process stalled?
The liquidation has remained incomplete for over a year due to liquidators' inaction and lack of accountability. During creditor meetings, liquidators dismissed complaints as unfounded allegations and provided only vague reassurances about maintaining communication channels, without demonstrating concrete progress in fund recovery or victim restitution efforts.

What concerns have emerged regarding the liquidators' conduct?
A February 11th circular distributed to creditors revealed significant gaps in the liquidation process. Liquidators have avoided responsibility for delays, deflected criticism,

🔗 Related Articles

- Chinese govt to keep $4.2 billion in seized Plus Token funds
- More victims come forward in Argentinian OneCoin crim case
- Rodrigues’ escape accomplices back in custody, more warrants
- TriumphFX run by Singaporean scammer Hermes Leong
- uFun Club scammers arrested in Samoa