Investors in the Dundee-based Coinit Trading “pyramid scheme” have hope of getting some of their money back.

This after Coinit director Malcolm Henry de Beer lost a bid to appeal against a court order authorising the disposal of Coinit’s assets for the benefit of investors.

The liquidators of the scheme said they have the green light to proceed with the sale of certain assets, after the Pietermaritzburg high court dismissed an application for leave to appeal a forfeiture order granted last year, as well as an application for the court to condone the late filing of the appeal application...