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Refco FX Accused Of Not Returning Investment Profits

Law360 (November 14, 2006, 12:00 AM EST) -- Refco FX was hit with a multimillion-dollar lawsuit on Tuesday by a financial company alleging that Refco allowed it to continue trading on its foreign exchange trading platform after it filed for bankruptcy, then denied it the profits.

On the date that Refco filed for bankruptcy, New York Financial LLC had deposits of $4.1 million in its account with Refco FX. After the petition date, New York Financial traded through and with its account, adding up to over $2.5 million in post-petition profits through June 30,...
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