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SFO confirms investigation into CFX Trade Safe Limited
8 September 2011
SFO confirms investigation into CFX Trade Safe Limited
The Serious Fraud Office (SFO) confirmed today that it has commenced a Part II investigation into foreign exchange trader, CFX Trade Safe Limited.
CFX Trade Safe, based in Whangarei, traded foreign currency on behalf of an estimated 50 clients, both in New Zealand and overseas.
SFO Acting Director Simon McArley says: “It appears that, at some point, the company suffered a major financial loss and we suspect that falsified documents may have been used in an attempt to hide this information from investors.
“We encourage any past or current clients of CFX Trade Safe that may have information that would be relevant to our investigation to contact the Office.”
The SFO was alerted to the case after being contacted by an employee of CFX Trade Safe. They are receiving full cooperation in their investigation from all parties involved.
A financial analysis has already been commenced in order to determine the scale of the losses involved and number of people affected. The SFO is also working with the Companies Office, who are managing the recovery of assets from the company.
Investors who have information relating to this case that may be of interest to the SFO are encouraged to contact Case Manager Willie Harris on 09 301 0135 or willie.harris@sfo.govt.nz in the first instance.
ENDS
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