MIAMI, Aug. 2, 2023 /PRNewswire/ -- A group of plaintiffs represented by Sanchez Fischer Levine, LLP and led by Cody Kerns filed a lawsuit last week
MIAMI, Aug. 2, 2023 /PRNewswire/ — A group of plaintiffs represented by Sanchez Fischer Levine, LLP and led by Cody Kerns filed a lawsuit last week in the Complex Business Litigation Division in Miami-Dade County, Florida, against the forex trading platform FxWinning, Ltd., which runs two well-known foreign exchange trading websites: fxwinning.net and fxwinning.pr. The lawsuit seeks more than $28 million and alleges that FxWinning’s owners and partners, David Merino, Renan da Rocha Gomes Bastos, Jonathan Lopez, Julian Kuschner, and Rafael Brito Cutie, engaged in a conspiracy to commit fraud and deceptive trade practices, along with several other causes of action.
The 27-page lawsuit, filed by the Miami-based law firm, alleges that FxWinning’s platform and its highly touted trading algorithm were used to lure tens of millions of dollars in investments based on false promises, misrepresentations, and outright lies. According to the lawsuit, Kerns and his fellow plaintiffs claim that FxWinning and its agents engaged in a sophisticated scheme intended to induce them to invest – and subsequently substantially increase those investments – on the false promise of lucrative returns. Included in the complaint is what purports to be a screenshot of FxWinning’s website, within which it states FxWinning “will guarantee you the best spreads and trading conditions.”
However, according to the plaintiffs, after they collectively deposited millions of dollars, “FxWinning abruptly stopped all withdrawals from client accounts,” citing to a compliance audit. But despite later advising plaintiffs that they had passed their compliance requirements, FxWinning shut down its websites. Plaintiffs were left with no method of withdrawing their funds from their FxWinning accounts, and FxWinning and its principals simply stole their investors’ money.
“We look forward to litigating this matter and diving into discovery as soon as possible,” said David M. Levine, Esq., lead counsel for the plaintiffs. “Our clients entrusted FxWinning with millions of dollars, and we will be diligent and steadfast in our pursuit of these claims.”
Contact:
David Levine
[email protected]
SOURCE Sanchez Fischer Levine, LLP
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