CoinWorld reports:
My Forex Fund Investigation Exposed by CFTC Commissioner for Improper Conduct
Commodity Futures Trading Commission (CFTC) Commissioner Caroline Pham issued a statement urging immediate action to address alleged misconduct by CFTC staff in ongoing enforcement actions against Traders Global Group, operator of My Forex Funds (MFF).
Commissioner Pham expressed concern in her statement over allegations raised in a motion accusing CFTC staff of making false statements to the court within a six-month period. This development could mark a turning point for MFF, which has argued that the commission misunderstood some of its payments, leading to asset freezes since September last year.
Breakthrough: My Forex Fund Seeks Sanctions Against CFTC
However, legal representatives of Traders Global Group, operating My Forex Fund, are seeking sanctions against the CFTC. In a motion filed this week, attorneys allege regulatory misconduct and “dishonest conduct by staff.”
The motion is part of ongoing litigation involving MFF and its CEO, Murtuza Kazmi, highlighting false statements by regulators regarding Debtbox as grounds for sanctions. Most accusations stem from earlier claims that the CFTC intentionally misrepresented certain tax situations. Payments are one of the fundamental mediums of exchange in the modern world, with one party transferring legal tender or equivalent currency to another in exchange for goods or services.
