The New Jersey courtroom, tonight (Tuesday), partially granted My Foreign exchange Fund’s request within the lawsuit filed by the CFTC towards the corporate. The courtroom ordered the discharge and return of many of the belongings belonging to founder and CEO Murtuza Kazmi, valued at roughly $100 million. Nonetheless, $12.08 million of those belongings will stay frozen.
Moreover, the courtroom determined to discharge the present momentary receiver and dominated towards appointing a brand new one.
My Foreign exchange Funds is entangled in a regulatory tussle with
the Commodity Futures Buying and selling Fee (CFTC). The prop buying and selling agency is at present
underneath a statutory restraining order. Nonetheless, it just lately contended that the
CFTC “recklessly mischaracterized transfers” involving vital
tax funds.
Kazmi and his authorized workforce have fired again,
difficult the elemental points of the lawsuit pitting it with the commodities watchdog. They’ve raised questions
concerning the alleged fraudulent actions. Moreover, the agency has raised
questions over the jurisdiction of the CFTC over its transactions.
Based on a current report by Finance Magnates,
the agency’s protection workforce just lately dismissed CFTC’s accusations. It asserted that
My Foreign exchange Funds by no means solicited or accepted buyer investments. The agency’s
attorneys have questioned the regulator’s jurisdiction, arguing that transactions
with clients are past the scope of anti-fraud provisions.
The New Jersey courtroom, tonight (Tuesday), partially granted My Foreign exchange Fund’s request within the lawsuit filed by the CFTC towards the corporate. The courtroom ordered the discharge and return of many of the belongings belonging to founder and CEO Murtuza Kazmi, valued at roughly $100 million. Nonetheless, $12.08 million of those belongings will stay frozen.
Moreover, the courtroom determined to discharge the present momentary receiver and dominated towards appointing a brand new one.
My Foreign exchange Funds is entangled in a regulatory tussle with
the Commodity Futures Buying and selling Fee (CFTC). The prop buying and selling agency is at present
underneath a statutory restraining order. Nonetheless, it just lately contended that the
CFTC “recklessly mischaracterized transfers” involving vital
tax funds.
Kazmi and his authorized workforce have fired again,
difficult the elemental points of the lawsuit pitting it with the commodities watchdog. They’ve raised questions
concerning the alleged fraudulent actions. Moreover, the agency has raised
questions over the jurisdiction of the CFTC over its transactions.
Based on a current report by Finance Magnates,
the agency’s protection workforce just lately dismissed CFTC’s accusations. It asserted that
My Foreign exchange Funds by no means solicited or accepted buyer investments. The agency’s
attorneys have questioned the regulator’s jurisdiction, arguing that transactions
with clients are past the scope of anti-fraud provisions.
