Exclusive: BT Deal with Forexware Imminent amid Potential Ownership Irregularities, CFH Group Makes a Statement

BT about to conclude a deal with FXDD rumoured since the beginning of May in a matter of days. CFH


As previous reports by Forex Magnates stated, sources connected to the market have been talking about a deal between FXDD and Boston Technologies for the current CEO George Popescu’s controlling stake of 50% +1 share, which was awarded to him in a court decision back in February this year. According to current information provided by sources aware of the matter, the deal is with Forexware and may be concluded in a matter of days, possibly as early as tomorrow (Friday). Forex Magnates’ reporters reached out to Boston Technologies for a statement but the company has declined to comment.

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Meanwhile, back in the latter part of May, CFH Group announced its intentions (pending due diligence) to acquire the other half of the company held by former COO and co-founder Kevin Millien. Apparently, this move has not affected the plans of the current CEO of Boston Technologies to sell his controlling stake to Forexware.

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Forex Magnates received information that as part of the deal, a corporate entity based in Belize, BT Trading Ltd., which holds 100% of BT Prime and Boston Prime and is a separate company from US incorporated Boston Technologies Inc., will be sold to Forexware. Forex Magnates’ reporters have obtained documents whose validity is unconfirmed, but according to them, the Belize company’s structure has been called into question, therefore our reporters reached out to the CFH Group and Boston Technologies for a comment.

The CFH Group confirmed, “Our company will proceed with acquiring Kevin Millien’s stake and according to all documents in our possession – the ownership matches with our initial statement.”  The firm also informed Forex Magnates that they intend to put in a full offer for the rest of company pending final due diligence. CFH Group concluded, “Should there be any discrepancies between assumed ownership and the latest registrar data – this is of course a serious matter, which will be addressed separately.”

When asked for a comment on the ownership of BT Trading Ltd., George Popescu denied any changes to its ownership structure and confirmed that the venture’s holding is divided into equal stakes between Mr. Popescu and Mr. Millien.

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