Funds Win Retrial Of Forex Trading Fraud Suit On Appeal

By Paige Long (August 9, 2019, 1:02 PM BST) -- An appellate court revived a fraud suit brought by two investment funds accusing foreign-exchange firm Ikon Finance of participating in a fictitious currency-trading scheme, ruling on Friday that a retrial is "the only just recourse" given the lower judge's failure to explain why he dismissed the suit.

The British Virgin Islands-based funds brought their suit after they transferred hundreds of millions of dollars based on Ikon accounts showing large profits, which they learnt were fictitious. (AP) The Court of Appeal found that High Court Judge Robin Knowles had not properly analyzed and tested evidence given during a three-week trial in 2018,...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!