USGFX

The administrator blamed him for the company’s troubles.

ASIC cancelled the FX broker’s licence on the 14th of September 2020.

The headquarters will be moved following the demise of USGFX in Australia.

USGFX applied to the Federal Court of Australia to have an alternate liquidator appointed to the broker.

The external administrator earlier raised concerns over the broker’s financials.

The amount of creditor claims far surpasses what was disclosed in USGFX’s financial records.

The administrators have been granted an order allowing the extension of the convening period until 18 September.

The Board of USG has also confirmed the resignation of USGFX’s CEO, Shay Zakhaim.

The AFSL of USGFX has been suspended under section 915B of the Corporations Act 2001.

He was in the apex position of the company for almost 6 years.

BRI Ferrier has been appointed as the administrator.

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