Today, before New York City Criminal Court Administrative Judge Kevin McGrath, each company pleaded guilty to one count of securities fraud under New York’s Martin Act. NEW YORK – Attorney General Barbara Underwood announced the criminal convictions of brokerage firms TFS-ICAP LIMITED and TFS-ICAP LLC for posting fake trades in emerging market foreign exchange currency options to New York-based traders. News from the New York Attorney General's OfficeĪttorney General's Office Press Office / Brokerage Firm TFS-ICAP LIMITED, and Its U.S.-Based Affiliate TFS-ICAP LLC, Plead Guilty to Securities Fraud for Posting Fake Trades in Emerging Market Foreign Exchange Currency OptionsĬompanies Must Implement Remedial Procedures Verified by Independent Monitor, Remove High-Level Managers, Pay $1.15 Million in Penalties, and Cooperate in AG’s Ongoing Criminal Investigation of Managers and Brokers at TFS-ICAP
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