Monex Defends Its Model, Wants CFTC Suit Moved Or Tossed

Law360, New York (October 4, 2017, 3:41 PM EDT) -- The precious metals trading company Monex and its principals asked an Illinois federal judge on Tuesday to throw out the Commodity Futures Trading Commission’s fraud case against them or move it to their home state of California, saying they have been clear with investors about the risks of their so-called Atlas program and the regulator lacks authority over them.

Monex Credit Co., its bosses Louis and Michael Carabini and affiliated companies have been accused of fleecing customers out of $290 million in an alleged long-running scheme...
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