UK Payments Co. Escapes Claims It Aided $75M Forex Fraud
By Elise Hansen (May 27, 2022, 5:36 PM EDT) -- Investors who say they were defrauded in a foreign-exchange trading scheme didn't adequately allege that U.K. digital payment company ePayments knowingly took part in the fraud, a Florida federal judge found in dismissing the claims against the company.
ePayments Systems Ltd. had faced a proposed class action brought by hundreds of investors in foreign exchange platform RoFx, who said that ePayments was implicated in RoFx.net's "sham" foreign exchange scheme. But they didn't adequately connect ePayments to the alleged conspiracy, so Florida courts can't hear the case, U.S. District Judge Robert N. Scola Jr. said Thursday.
"For the court to assert personal...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!