Interim injunction against Forex Capital Trading extended

The Australian Securities and Investments Commission (ASIC) has been granted an extension of its interim orders against OTC derivatives issuer, Forex Capital Trading, in a bid to protect investor funds.

The move followed the Federal Court’s decision on 12 March to grant the regulator interim orders against the firm, which disposed of their property and froze monies in their bank account, as well as prevented its director, Shlomi Yoshai, from leaving the country.

The matter returned to the court on 18 and 19 March, and while the court declined the extension of the freezing orders, it made orders preventing Yoshai from leaving the country until 25 March, and to restrain the firm from transferring any property, including client money, overseas.

The matter is set to appear before the court again on 20 May this year.




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