CFTC Sues Broker IFinix Over Allegedly Fake Bank Docs

Law360, New York (September 27, 2012, 10:47 PM EDT) -- The U.S. Commodity Futures Trading Commission on Thursday hit independent introducing broker iFinix Futures Inc. with a lawsuit alleging that it gave auditors falsified bank statements to cover up its lack of capital.

The commission says Plainville, N.Y.-based iFinix and CEO Benhope M. Munroe made false statements and concealed material facts from the National Futures Association during an unannounced audit last year.

In addition to its failure to maintain its required $45,000 in capital, iFinix “failed to maintain required records, and failed to cease doing business...
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