Revenge of the Clients: Multiple USGFX Employees Held Hostage in Shanghai

[kreslik.news]

ASIC-regulated Union Standard Group Forex (USGFX) has a hostage situation on its hands with a group of rogue investors holding employees of the Australian brokerage. A group of investors are holding three employees in a Shanghai office for nearly five days after losing money on foreign exchange (FX) trades, according to an FT report.

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The hostage situation was the culmination of roughly $2.6 million in losses via multiple FX trades last week – for their part, a group of upwards of fifty investors stormed USGFX’s Shanghai office ... (read more)