Forex CT Customers Lost At Least $54 Million, Yet to Be Compensated
The liquidators of Forex CT released a report last week revealing that they have identified at least 11,174 former customers of the platform.
Source: financemagnates.com
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$20m penalty for Forex CT | Money Management
The Australian Securities and Investments Commission cancelled its Australian financial services licence (AFSL) after an investigation. ASIC found Yoshai was involved in Forex CT’s trading floor culture, an environment that had been likened by former account managers to ‘The Wolf of Wall Street’, where a bell or a gong was rung when clients deposited funds of certain amounts into their trading accounts and account managers could participate in incentive ‘games’ such as ‘wheel of fortune’, roulette tables and dice games to win cash if certain client deposit targets were met. The ...
Source: moneymanagement.com.au
Forex CT director gets 10-year ban | Money Management
ASIC found Yoshai was involved in Forex CT’s trading floor culture, an environment that had been likened by former account managers to ‘The Wolf of Wall Street’, where a bell or a gong was rung when clients deposited funds of certain amounts into their trading accounts and account managers could participate in incentive ‘games’ such as ‘wheel of fortune’, roulette tables and dice games to win cash if certain client deposit targets were met. Yoshai put pressure on account managers to implement high pressure sales tactics when engaging with clients, offer incentives to clients to ...
Source: moneymanagement.com.au