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Article: Australia first to sue over US forex scheme.
- Article from:
- Australasian Business Intelligence
- Article date:
- November 14, 2001
CopyrightCOPYRIGHT 2001 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nov 15, 2001 (The Australian Financial Review
ABIX via COMTEX) -- An Australian land developer has filed a suit in the Manhattan Federal Court against a US currency trading firm. Dirk Karreman was one of 1,400 investors from 14 countries around the world who placed money into a forex trading scheme run by Evergreen International Spot Trading and First Equity Enterprises. Karreman alleges that the owner of these companies, Andrei Koudachev, and his associates, absconded with hundreds of millions of dollars that had been invested in the forex scheme. Karreman has accused Evergreen's executives of using the funds raised to finance "an elaborate and extravagant ...