Tag: ib capital FX

SFC fines
November 16, 2016 BY LeapRate Staff

IB Capital FX hit with $35 million restitution and fine payments by US court for illegal Forex trading

The U.S. Commodity Futures Trading Commission (CFTC) obtained a Consent Order against Defendants IB Capital FX, LLC and its principals Michel Geurkink, and Emad Echadi, requiring them to pay, jointly and severally, $35 million in restitution to defrauded customers and a $420,000 civil monetary penalty for soliciting and accepting at least $50 million from approximately 1,850…

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