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South African CEO to Pay $3.4 Billion for Forex Fraud

A federal court in the United States has ordered Cornelius Johannes Steynberg, the South African CEO behind a $1.7 billion retail forex and commodity pool fraud, to pay a total of $3.4 billion. The amount comprises $1.7 billion in restitution payment to defrauded investors and another $1.7 billion in civil monetary penalty.Court Awards Record Penalty Judge Lee Yeakel of the US District Court for the Western District of Texas gave the order on Monday, the Commodity Futures Trading Commission (CFT... Read More

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Posted: Apr 27 2023, 21:59

Author Name: financemagnates

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