In the news releas
In the news release, FOREX TRADING PLATORM FXWINNING AND ITS PRINCIPALS ACCUSED OF ENGAGING IN FRAUD AND DECEPTIVE TRADE PRACTICES, issued 02-Aug-2023 by Sanchez Fischer Levine, LLP over PR Newswire, it is issuing a clarification to state that the lawsuit alleges that David Merino and Rafael Brito Cutie are the co-owners of FxWinning and that Renan da Rocha Gomes Bastos was FxWinning’s “de facto principal operations manager” in the United States. The lawsuit also alleges that Jonathan Lopez and Julian Kuschner held themselves out as “partners” with David Merino and “partners in FXWinning.” The previous press release had stated that the lawsuit 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.” Neither the August 2, 2023 press release, nor the lawsuit, refer to Jonathan Lopez, Julian Kuschner, or Renan da Rocha Gomes Bastos as owners or principals of FxWinning. The complete, clarified release follows:
LAWSUIT ALLEGES FOREX TRADING PLATFORM FXWINNING AND ITS AGENTS ENGAGED IN FRAUD AND DECEPTIVE TRADE PRACTICES
MIAMI, Aug. 4, 2023 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.pro. The lawsuit seeks more than $28 million and alleges that FxWinning’s owners (David Merino and Rafael Brito Cutie), its de facto principal operations manager in the United States (Renan da Rocha Gomes Bastos), and two individuals who held themselves out as Merino’s partner and “partners in FXWinning” (Jonathan Lopez and Julian Kuschner) engaged in a conspiracy to commit fraud, deceptive trade practices, and 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, the lawsuit alleges, despite later advising plaintiffs that they had passed their compliance requirements, FxWinning shut down its websites. The Plaintiffs allege that they were left with no method of withdrawing their funds from their FxWinning accounts, and that FxWinning simply stole the 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
View original content to download multimedia:https://www.prnewswire.com/news-releases/forex-trading-platorm-fxwinning-and-its-principals-accused-of-engaging-in-fraud-and-deceptive-trade-practices-301891622.html
SOURCE Sanchez Fischer Levine, LLP
www.news-journal.com