Refco Sues Cantor Over $8M Stake In Drained Tech Assets
By Kathryn Brenzel
Law360, New York (July 16, 2013, 6:04 PM ET) -- The bankruptcy estate of Refco Inc. has launched a suit in New York federal court alleging Cantor Fitzgerald LP cheated it out of profits netted from gambling technology produced by the company's shuttered subsidiaries, alleging that it was never compensated for an $8 million investment.
Refco provided $8 million in 2002 in exchange for a 10 percent stake in Cantor Fitzgerald's subsidiary Cantor Index Holdings, according to the complaint, which was filed in March but unsealed Monday. After several years of success in developing “revolutionary” gaming...