SFO confirms CFX Trade Safe investigation
The Serious Fraud Office suspects false documents were used to hide information from investors.
Concerns false documents were used to hide losses from investors has led the Serious Fraud Office to launch an investigation into foreign exchange trader, CFX Trade Safe Limited.
The SFO was alerted to the case by a former CFX Trade Safe employee.
“It appears that, at some point, the company suffered a major financial loss and we suspect that falsified documents may have been used in an attempt to hide this information from investors," SFO acting director Simon McArley says.
A financial analysis is underway to determine the scale of the losses involved and number of people affected. The SFO is also working with the Companies Office, which is managing the recovery of assets from the company.
CFX Trade Safe, based in Whangarei, traded foreign currency on behalf of an estimated 50 clients, both in New Zealand and overseas.
NBR staff
Thu, 08 Sep 2011
Thu, 08 Sep 2011
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SFO confirms CFX Trade Safe investigation
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