Australia financial regulator ASIC has reported that the Australia Federal Court has unveiled another side of the bankruptcy of former AFS licensed CFDs broker USGFX, indicating that the “unconscionable conduct” that led to the demise of USGFX went well beyond its own four walls.
The 2020 bankruptcy of USGFX operator Union Standard International Group Pty Ltd, and subsequent disappearance of its controlling shareholder Soe Hein Minn, has not yet been resolved, with a staggering $357 million in client and creditor claims made against just $8 million in funds to distribute. Soe Hein Minn remains at large and in contempt of the courts in Australia.
Earlier this year ASIC banned Read More
