MyForexFunds “returns” after winning the CFTC lawsuit – a major turning point for the Prop Firm industry

MyForexFunds “returns” after winning the CFTC lawsuit - a major turning point for the Prop Firm industry

MyForexFunds has announced its comeback to the Prop Firm market following its headline-making lawsuit against the CFTC. Recognized as one of the leading Prop Firms today, MyForexFunds continues to attract significant attention from traders across the industry.

Earlier this Monday, the firm posted an update on social media platform X, informing traders about its return and promising to share the full story surrounding the CFTC case.

Following the CFTC incident, MyForexFunds has been working on its recovery plan. The U.S. Commodity Futures Trading Commission (CFTC) had previously filed a lawsuit against the company, accusing it of fraud.

In a related post on LinkedIn, the company wrote:

“It’s been a long time. A lot has happened. We will tell our story soon. Be patient, we missed you.”

Penalties and employee suspensions in the CFTC case

Penalties and employee suspensions in the CFTC case
Penalties and employee suspensions in the CFTC case

According to court documents released in early December 2024, Ashley Burden, the lead attorney for the CFTC, admitted to being “careless and negligent” throughout the investigation. One of the key errors involved falsely declaring CAD 31.5 million in tax liabilities as embezzlement, which led to the freezing of company assets.

As a result of these admissions, the regulator suffered a rare legal setback that exposed serious weaknesses in how the case was handled.

In response, the CFTC placed four attorneys and one investigator on administrative leave in May 2025. An internal review of the staff’s actions – including the submission of false information during court proceedings – revealed potential violations of government policy and professional ethics.

CFTC fraud case dismissed against MyForexFunds’ parent company

MyForexFunds “returns” after winning the CFTC lawsuit
MyForexFunds “returns” after winning the CFTC lawsuit

The CFTC’s fraud lawsuit against Traders Global Group Inc., the parent company of MyForexFunds, has officially been dismissed. This decision followed a recommendation from U.S. special judge Jose L. Linares, who identified multiple procedural errors and instances of misconduct by CFTC staff.

Furthermore, the judge ordered the CFTC to reimburse the company’s legal expenses.

This ruling underscores the importance of adhering to proper legal procedures and imposes financial consequences on the CFTC. It also highlights the potential impact that procedural missteps in regulatory investigations can have on both businesses and government agencies.

Follow Pfinsight.net to stay updated with the latest and most notable Prop Firm news!

Leave a Reply

Your email address will not be published. Required fields are marked *