CFTC clashes with My Forex Funds over privileged info
The lawsuit brought by the CFTC against Murtuza Kazmi and Traders Global Group Inc., d/b/a “My Forex Funds”, continues in New Jersey.
The lawsuit brought by the CFTC against Murtuza Kazmi and Traders Global Group Inc., d/b/a “My Forex Funds”, continues in New Jersey.
The Court sided with the CFTC insofar as $12,080,000 of My Forex Funds’ assets shall remain frozen.
The CFTC moves the Court to approve a preliminary injunction, asset freeze and the appointment of a permanent receiver in the case against My Forex Funds.
CFTC alleges that My Forex Funds minimizes the likelihood that customers trade profitably, by using pretexts to terminate customer accounts.