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US court issues $22.9 million fraud judgement against IKON Global Markets
LeapRate has learned from court documents that about two weeks ago a US judge in Illinois entered a $22.9 judgement in favor of several plaintiffs which had sued Retail Forex broker IKON Global Markets for fraud, as well as its former principals Diwakar Jagganath, Ioannis Litinas and George Daskaleas. IKON Global Markets was the NFA-licensed subsidiary of the IKON Finance group, controlled by Turkish businessman Engin Yikilmazoglu, which at one point was a leading Retail FX firm with global reach. IKON exited the US retail forex market earlier this decade when US regulators tightened capital requirements and other ... (full story)