Dodgy ratbag Forex scamsters in liquidation

The dodgy ratbag forex scamsters Phoenix Forex have gone into liquidation.

We have featured these ratbags extensively on the blog. Unfortunately it appears that many people may well lose their money entirely.

Phoenix Forex, which the Financial Markets Authority issued a warning about in August, has been placed in liquidation.

Foreign exchange software company Phoenix Forex was the New Zealand distributor of the OakFX foreign exchange trading system, which customers paid up to $25,000 to access.

At the end of August, the FMA warned the public about doing business with the Auckland-based company or buying the OakFX system. 

“The FMA believes that Phoenix Forex’s claims about the level of returns made by its trading system are untrue, and that Phoenix Forex is misrepresenting the profitability of, and risks associated with, its trading system,” the regulator said.

Phoenix Forex has now been placed in liquidation, according to the Companies Office.

Documents show Jared Booth and Tony Maginness from McDonald Vague, an insolvency and business recovery firm based in Auckland, have been appointed as liquidators for the company.

The pair will take control of the company’s assets and sell them to repay creditors.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.