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Broker sued for links to Ponzi-like fraud

Nov 24, 2020 - The Daily Telegraph (London)

A LONDON foreign exchange broker is facing a multimillion-pound legal claim over its alleged links to a suspected $125m (£93m) Ponzi-like fraud being investigated by the US Securities and Exchange Commission (SEC).

Equiti Capital, which denies wrongdoing, is facing a demand from investors in the scheme to repay part of the $13m in commissions it received as prime broker for complex investment products offered by a firm controlled by Mediatrix Capital.

Mediatrix promised to use tradi...