Investor Suing For $53.5M Steps Up Forex Fraud Claim

Law360, London (January 3, 2020, 3:40 PM GMT) -- An investor suing Ikon Finance for allegedly transferring his foreign-exchange account unlawfully to another broker is arguing in court documents that the financial company perpetrated a potential fraud and caused him significant financial loss.

Hafez Fakhri Taji Al Farouqi is seeking $53.5 million from Ikon and Hantec Markets Ltd., the company to which his account was transferred.

Al Farouqi has taken aim at Ikon Finance Ltd.’s defense to his suit over the allegedly misappropriated funds, filing a reply disputing the company’s assertion that it complied with regulatory rules during the transfer of his trading account in 2017 when the Financial Conduct...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!