CFTC Gets $12 Million Freeze in Alleged Forex Trading Fraud Case

bli litigation judge

Forex trading platform Traders Global Group Inc. will have more than $12 million of its corporate assets remain frozen pending a trial over fraud allegations, a federal judge said in an opinion.

Judge Zahid Quraishi partially granted the Commodity Futures Trading Commission’s motion for a preliminary injunction, ruling that no receiver would be necessary to carry out the asset freeze and declining inspection of defendants’ books and records, according to the complaint filed Tuesday in US District Court for the District of New Jersey.

The CFTC initially alleged in August that Traders Global and CEO Murtuza Kazmi used a website …

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