It is believed that Tariomix is unable to pay its debts to its creditors.

An application was made in the Mahikeng High Court as the registered place of business of Tariomix (Pty) Ltd falls within the jurisdiction of said High Court, being Farm Rietdraai, Lichtenburg..  Tariomix was represented by an advocate.  After argument, the court granted a provisional liquidation order.

Who are the provisional liquidators?

The provisional liquidators are appointed by the Master of the High Court as per the court documents available here.

What does this mean for the Creditors?

Creditors may apply to be recognised as such in the provisional liquidation. To do so, you need to complete the basic details of your claim and confirm your identity.  On receipt of the said information, the provisional liquidators, you will be sent a claim form to complete.

Is Tariomix T/a Forever Diamonds and Gold a Ponzi Scheme?

An illegal investment scheme is a form of fraud in which new investors’ money is used to pay older investors either their capital and/or “return on investment”.

This is also known as a “rob Peter to pay Paul” scheme.

As such Investors who have taken out more money than they put in may be required to pay those funds back. Any investors who have withdrawn more than they put into the scheme are advised to ringfence those funds pending finalisation of the liquidation.  At this time while it is believed that Tariomix T/a Forever Diamonds and Gold may have been an illegal investment scheme, the liquidation is still under way.

What about the other companies linked to Tariomix?

The interaction between the companies, for example Zircon, are currently being investigated by the provisional liquidators.

Why do the provisional liquidators need to confirm my Identity?

In order to establish the authenticity of claims, it is necessary to validate the identity of those who wish to claim against the estate.

Will I receive any of my money?

This is entirely dependant on how many assets of the company the provisional liquidators can identify and dispose of for reasonable value.

Typically, a percentage is paid out to creditors of the estate as soon as the bulk of claims in favour of the company have been collected. This would include the collection of “profits” received by those who took more out of the scheme than they invested in it.