Forex Liquidity Founder Can't Block Funds Payout

Law360, New York (June 21, 2010, 7:47 PM EDT) -- A federal appeals court has turned down an attempt by the owner of Forex Liquidity LLC to intervene in a suit brought by the U.S. Commodity Futures Trading Commission that accused his firm of accounting irregularities and saw him jailed briefly for contempt.

Robert Gray's motion to intervene was untimely, and a district court did not abuse its discretion in turning down his request, the U.S. Court of Appeals for the Ninth Circuit said Friday.

Gray had been trying to prevent Forex Liquidity receiver Robb Evans...
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