Forex Agents Banned For Misusing £8M Of Client Cash
Law360, London (October 5, 2020, 3:12 PM BST) -- Two foreign exchange agents have been banned from running a company for a total of 24 years after they misappropriated over £8 million ($10 million) of client money to pay back previous customers instead of investing the cash in trades, a government agency said Monday.
The Secretary of State for Business, Energy and Industrial Strategy disqualified Peter Roebuck and Francis Tarling from acting as directors of a company for 12 years each, the Insolvency Service said. The fraudsters accepted disqualification undertakings, which do not involve court proceedings, after investigators found that they used at least £8.4 million of client funds to...
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!