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DanFX Trade former director Daniel Ali jailed for fraud
Daniel Farook Ali, former director of DanFX Trade Pty Ltd, has been sentenced in the Brisbane District Court to seven years and three months imprisonment for fraud, following an ASIC investigation. On 23 May 2024, Mr Ali pleaded guilty to five counts of fraud totalling $771,303 relating to his misappropriation of funds invested for trading and investment purposes. Mr Ali was the director of DanFX Trade Pty Ltd, which operated an unlicensed foreign exchange trading business. Between May 2016 and November 2017, Mr Ali dishonestly used funds provided by investors to purchase a BMW motor vehicle for a personal associate ... (full story)