FNG Exclusive… Further to our Reported First at FNG article from early July that FCA regulated CFDs broker City Credit Capital (UK) Ltd has been placed in administration, FNG has learned via regulatory filings that about £10 million in Professional Client money at CCCUK is missing offshore, and may not be recovered.
CCCUK Background
As we reported in July, City Credit Capital (which operated website cccapital.co.uk) and related “downmarket” brand CIX Markets (cixmarkets.com) were controlled by US entrepreneur Alfred Tang. The company had seen a significant downturn in activity over the past few years. In 2021 (the company has yet to release 2022 results) CCCUK did just £1.2 million in Revenues, posting a £3.8 million loss. As recently as 2017…
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