Liquidators Recover Only $720k From BlackFortFX, Despite $4.68M Owed

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Liquidators Recover Only $720k From BlackFortFX, Despite $4.68M Owed

Postby » Wed Feb 24, 2016 4:57 pm

New Zealand-based Arena Capital Limited, operating the website BlackfortFX has yielded only NZ$1.07 million ($720,000) in liquidated funds, far short of the NZ$7.0 million ($4.68 million) owed after a recent NZ High Court ruling earlier this week.

On Monday, BlackfortFX had been ruled as a Ponzi scheme by a NZ High Court, having which decreed that the firm owed clients a total of $4.68 million for illicit activity,

BlackfortFX had been under investigation and under pressure by New Zealand’s Financial Markets Authority (FMA) since last May, which consequently froze its assets, paving the way for liquidation ... ([url=]read more)

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