Forex firm fined record $100m for fraud

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

The final court opinion results from an action brought by the commission in July 2002 against the firm, its former president and chief executive John Robinson and IFS board member Chan Kow Lai.

The total penalties are the largest recorded for the CFTC since it became responsible for the activities of FX futures trading firms under the December 2000 Commodity Futures Modernization Act.

The ruling found that the firm had deliberately set out to lose its clients' money while making commissions

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]