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My Forex Funds Claims CFTC “Mischaracterized” Its Tax Payments to Freeze Assets
As My Forex Funds's regulatory quagmire continues, new details of its legal line of defence emerge. The lawyers representing the now defunct funded accounts provider claim that the Commodity Futures Trading Commission (CFTC) has “recklessly mischaracterized transfers to and from Defendants’ bank accounts before the SRO [statutory restraining order] was entered.” Specifically, “the CFTC misrepresented that Traders Global transferred $31.55 million CAD to Mr. Kazmi, when in reality Traders Global transferred that money to the Canadian tax authorities.” According to My Forex Funds, its bank records show two ... (full story)