Francesc’s Weblog
  • Home
  • Join our trading community
  • Back to FXstreet.com

Francesc's Weblog

Francesc Riverola,
CEO & Founder of FXstreet.com

Subscribe

Subscribe Subscribe Subscribe using Netvibes
Or subscribe via email:

Categories

  • About FXstreet.com
  • EU Economy
  • Forex
  • International Traders Conference
  • NFA new requirements
  • Other sites
  • Personal
  • Uncategorized
  • US Economy
  • Winds of change in Switzerland
  • World Economy

Archives

Recent Comments

  • Francesc Riverola on Forex Fraud - NFA takes emergency enforcement action against Profitstars Intl and its principal
  • TradeStar Investor on Forex Fraud - NFA takes emergency enforcement action against Profitstars Intl and its principal
  • Francesc Riverola on Forex Fraud - NFA takes emergency enforcement action against Profitstars Intl and its principal
  • Concerned Investor Too on Forex Fraud - NFA takes emergency enforcement action against Profitstars Intl and its principal
  • Danny on FxPro LSE IPO Postponed Due Market Conditions

Tags

ACM blogs CAG CFTC CitiFX CME Crown Forex Currencies at a Glance Danske Bank David Solin EURUSD Financial Crisis FINMA Forex Forex.com Forex broker Forex Education Forex Fraud Forex Learning Center Forex Market Forex Mobile Forex news Forex Trader of the Year contest Forex Trading Forex Volume FXCM FxPro FXstreet.com FXstreet.com Traffic Stats Gain Capital GFT International Traders Conference IPO ITC ITC 2009 Kathy Lien NFA Retail Forex Rob Booker Saxo Bank stats traffic stats USD US Economy Wayne McDonell

FXstreet.com Weblogs

  • CEO's Weblog
  • Wayne McDonell
  • Dr. S. Sivaraman
  • Valeria Bednarik
  • James Chen
  • Ross Yamashita
  • Raghee Horner
  • Ron Schelling
  • César B. Leiceaga
  • Ian Coleman
  • Greg Michalowski
  • Mike Baghdady
  • Dale J. Pinkert
  • Trader of the Year

Links

  • Forex Crunch
  • Forex Magnates
  • FXstreet.com
FINMA suspends all Crown Forex S.A activities, including trading

Posted on May 26, 2009 at 10:08 in Forex, Winds of change in Switzerland by Francesc

Hi everyone

Sorry for the delay but I was waiting the confirmation from FINMA that the appointed liquidators of Crown Forex SA had really sent the below quoted Email before publishing it here and informing you all.

I got their confirmation so here you have it but to summarize it, the note states that as part of the opening of the bankruptcy process, the FINMA also ordered the suspension of all activities of CROWN FOREX SA, including trading.

Dear

reference is made to our previous e-mail about CROWN FOREX SA’s bankruptcy opened by the FINMA on May 19, 2009 at 8:00am (Swiss Time).

As of the opening of the bankruptcy, the FINMA has also ordered the suspension of all activities of CROWN FOREX SA, including the trading.

It however appears that the trading system and the trading platform are still operated abroad in violation of the FINMA’s decision.

That being so, we inform you that from the bankruptcy opening, May 19, 2009 at 8:00am, no transaction shall bind the bankruptcy estate of CROWN FOREX SA.

Finally, from May 29, 2009, the web site www.crownforex.info will be updated with all relevant information that can be publicly disclosed on the situation of CROWN FOREX SA.

We also draw your attention on the fact that the FINMA, as supervisory Authority, will post on its web site www.finma.ch and in the Swiss Official Gazette of Commerce www.shab.ch important legal information pertaining to the rights and obligations of the creditors and debtors of the estate of CROWN FOREX SA, in bankruptcy.

Sincerely,

Laurent WINKELMANN   Philippe von BREDOW

Tags: FINMA Suspends Crown Forex S.A activities

8 Responses to “FINMA suspends all Crown Forex S.A activities, including trading”

  1. on 05 Sep 2009 at 6:58 pm1Alan Tabot

    I am a Crown Forex account holder and do not at this time know how to contact them to request withdrawal. Can you help? thanks Alan

  2. on 07 Sep 2009 at 5:45 pm2Tiger

    Hi Alan

    Please visit site http://www.crwonforex.info . This is the official webiste by FINMA.

  3. on 08 Sep 2009 at 3:35 am3hiks

    http://www.crownforex.info/

    what make me nervous is note no 8
    “”Account statements with false account numbers may have been issued in the name of CROWN FOREX SA in favour of persons who are not registered as client of CROWN FOREX SA, in liquidation. Account statements may therefore not be sufficient to substantiate the existence of a contractual relation or of a claim against CROWN FOREX SA, in liquidation.”"

    how do we know that our account numbers is valid or not?

  4. on 09 Sep 2009 at 6:19 am4Tiger

    Thats where evrybody is standing , not sure what and how the liquidators will finalize the list of creditors or clients.

    Thats what I am confused too, so waiting for any outcome of the investigation and will see how they proceed.

  5. on 04 Nov 2009 at 11:39 am5faisal

    who says world is a global village,communication and transportation means have brought the world closer?
    but for cfsa clients,world seems too big to explore….we are not even able to derive infirmation about the fate of crown’s appeal in swiss federal court.does anyone have idea where finma officials have gone……it seems to me after plundering crown clients they have left this world and bought some property at mars….good luck winkelmann von breedow christina burgi…..atleast you are exposing that you all are the reps of black money country switzerland.
    i dont understand how some investor and creditor can trust swiss economy after this day light robery to crown clients by finma.

  6. on 04 Nov 2009 at 12:41 pm6Francesc Riverola

    Hi guys

    The last 3 weeks I’ve been sending e-mails to FINMA’s representatives and to CF liquidators.

    Got no word for an answer :(

    Francesc

  7. on 04 Nov 2009 at 9:47 pm7Tiger

    finally I got resposne from Liquidators last week, stating that the there is no new update at this point of process and it will posted on crownforex.info website as its available.

    Nore more info so I am standing where I started 12 months ago almost.

  8. on 23 Feb 2011 at 9:58 am8faisal

    hi Francese,
    its long time we are not listening about crown forex and finma affair.its more than two years and yet i have not got a single penny out of my deposited amount with crown forex.is there any body who got money back from crown liquidators?

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

© 2010 "FXstreet.com. The Forex Market" All Rights Reserved.