U.S. and Canadian financial regulators have shut down Toronto based prop trading firm My Forex Funds (operating at website myforexfunds.com), charging the company and its operator Murtuza Kazmi with running a $300 million+ fraud on retail traders.
The company’s website now carries the following message:
Traders
Yesterday we learned that, without prior notice or discussion, a provincial securities regulator in Canada and the commodities regulator in the United States issued orders preventing us from trading securities or accessing funds in our bank accounts.
Until these freeze orders are lifted or modified, our business is effectively, and at least temporarily, frozen as well.
We will be reaching out to the regulators to discuss their concerns, and the first court date to determine whether the freeze orders should be lifted or modified is currently scheduled for September 11 in the US, with another hearing later that same…
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