Refco FX, one of the largest firms in the Forex industry, has recently announced it’s filing for bankruptcy protection. Refco FX, a subsidiary of Refco Group, has finally fallen to its parent company’s financial troubles and has been forced to suspend all trading.
Refco Group experienced a massive devaluation earlier this year as a result of its CEO, Phillip R. Bennet, being accused of a scheme to falsely inflate the company’s stock price through improper accounting practices. Refco FX was initially unaffected by the scandal, but has recently announced its inability to proceed.
Read more here.
Monday, June 19, 2006
Subscribe to:
Post Comments
(Atom)
No comments:
Post a Comment