‘Dissembling, Combative’ Trader Must Pay $22M, Judge Says

Law360 (February 14, 2020, 9:18 PM EST) -- A former trader and his two companies are on the hook for nearly $22.7 million in connection with fraudulent foreign exchange trading, an Alabama federal judge said Friday.

U.S. District Judge Andrew L. Brasher said order that individual defendant Husam Tayeh and two companies, Dinar Corp. Inc. and My Monex Inc., must disgorge $22,559,153.85 and pay a $140,000 civil penalty in a civil action brought by the U.S. Commodity Futures Trading Commission. The parties had already agreed that Tayeh and the two companies had violated the Commodity Exchange Act and agreed on a bar on Tayeh continuing to trade.

In his...

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