July 13, 2015 BY Maria Nikolova
Newborn Forex Trend set to emerge in August
The new owner of the notorious Forex broker says FXT2 will not replace or be a legal successor of the “old” Forex Trend Limited.
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July 02, 2015 BY Maria Nikolova
Troubled broker Forex Trend tries to move clients to new company FT2
After losing its registration in New Zealand and being blacklisted in Russia, the company is asking clients to submit applications to move their funds to Forex Trend 2.
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July 01, 2015 BY Andrew Saks-McLeod
Rickshaw driver discovers bag of cash, uncovers Indian FX scam
A rickshaw driver in Bangalore, India discovered a bag left behind by a customer When the customer exited the rickshaw containing 4,100 Euros, 10,000 Malaysian Ringgits, 2.99 lakh Sri Lankan Rupees, 45,805 UAE Dirham and Rs. 11,000 in cash which an employee of an FX company in Chennai was to hand to a colleague
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May 11, 2015 BY Maria Nikolova
Forex Trend debacle worsens, as website goes down
The website of the New Zealand-registered retail FX broker went dysfunctional this morning, less than a week after a director confirmed that the company was unable to meet its obligations to clients.
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May 04, 2015 BY Maria Nikolova
New Zealand's FMA says Forex Trend cannot meet obligations to clients
The FX broker, which has been blacklisted in Russia already, is unable to meet its obligations and will soon be in the hands of liquidators.
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March 24, 2015 BY Maria Nikolova
KPMG warns about fraudulent Alpari UK China Support Team
Fraudulent schemes have reached new highs and the latest example in this respect comes with regard to insolvent retail Forex broker Alpari UK. The ill-fated company, which has more than 100,000 clients still waiting to get their funds back, had subsidiaries in several other jurisdictions, including Japan and China. Clients of Alpari's Chinese business are…
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February 20, 2015 BY Andrew Saks-McLeod
State of Texas jails FX fraudster for 97 months
Kevin G. White pleaded guilty on Dec. 11, 2013, to committing mail fraud in connection with a commodity trading fraud scheme, and was sentenced to 97 months in federal prison on Wednesday by U.S. District Judge Marcia A. Crone. White was also ordered to pay restitution in the amount of $3,926,870
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January 30, 2015 BY Maria Nikolova
Forex fraudster Alex Hope gets 7-year jail term
A landmark legal prosecution concluded today in the UK, as Alex Hope and his accomplice in investment fraudulent activities Raj Von Badlo (also known as Raj Shastri), were both sentenced to prison. Alex Hope will spend the next seven years in prison, the harshest punishment imposed following prosecution by the Financial Conduct Authority (FCA) or…
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December 04, 2014 BY Andrew Saks-McLeod
Forex fraud thwarted by CFTC resulting in $819,000 fine
Christopher Engel, along with his company Pinnacle Forex Group LLC collected client funds for purchasing FX contracts, but withdrew and misappropriated them. Despite never having been registered with the CFTC, an offense in the US, the authority has successfully issued an $819,000 fine
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November 21, 2014 BY Andrew Saks-McLeod
FOREX MMCIS goes out of business, leaving 50,000 clients high and dry
After several painful months during which FOREX MMCIS attempted to resolve its financial difficulties, the firm has finally closed its doors, leaving behind a potential loss to several thousand clients
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