Prospero Markets’ Liquidators Distributed AU$18.1 Million in Customer Claims

The liquidators of Prospero Markets have distributed about AU$18.1 million to the clients of the now-shuttered contracts for differences (CFDs) broker. They also determined the total client claims to be AU$19.2 million.

Customers Are Receiving Their Claims

BRI Ferrier could not pay the entire amount in claims, as some Prospero clients did not provide proper bank details. The liquidators gave them until 15 October to provide the details and receive the claims in the next distribution in November 2025.

“There remains approximately AU$1.1 million that has been withheld from clients with admitted entitlements,” the liquidators noted in a report to creditors published today (Wednesday). “If those clients do not provide bank account details, their funds will be paid to ASIC unclaimed monies at the end of the liquidation.”

The three liquidators further revealed that they also rejected some client claims, mainly from offshore clients.

A federal court in Australia ordered Prospero Markets' shutdown in April last year and appointed the liquidators to oversee the return of client funds.

Read more: ASIC to Wind Up 95 Financial Services Firms: Multiple CFDs Brokers Named

A CFDs Broker and Money Laundering

Prospero Markets obtained the AFS licence in late 2012, authorising it to offer over-the-counter derivatives and foreign exchange contracts to retail and wholesale clients. It offered services in Chinese in addition to English, indicating a significant proportion of Chinese-speaking clients, although none of the numbers are in the public domain.

However, ASIC’s action against the broker came after an investigation that began in 2023.

In October 2023, Australian police charged former officers and responsible managers of the brokerage with money laundering. These charges were linked to the Changjiang Currency Exchange money remitting chain, which was accused of laundering nearly AU$229 million over three years.

In its investigation into the brokerage business, ASIC found a “broad range of concerns regarding the management of Prospero’s business.” The regulator highlighted potential breaches of the broker's licensing conditions and its obligations as an issuer of over-the-counter derivatives.

While suspending Prospero’s licence in December 2023, the Australian regulator cited the broker's failure to submit annual financial statements and audit reports on time. ASIC finally cancelled the licence last year.