Forex Liquidity CEO In Contempt Over $7M Assets

Law360, New York (July 24, 2009, 1:02 PM EDT) -- The chief executive of futures commission merchant Forex Liquidity LLC has been found in contempt of court for refusing to turn over more than $7 million in firm assets as part of orders issued in a case brought by the U.S. Commodity Futures Trading Commission.

Judge Cormac Carney of the U.S. District Court for the Central District of California on Thursday found Robert Gray in civil contempt and ordered the CEO to immediately relinquish the funds, which are currently held offshore by San Marino-based Pro Fi,...
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