FXstreet.com (Barcelona) - Last week Francesc Riverola, CEO at FXstreet.com, announced in his blog that the Swiss Financial Market Supervisory Authority (FINMA) decision in its investigation on Crown Forex was to liquidate the company even though it had not yet being enforced as the company still had the opportunity to opposite.
That announcement was based on reliable information from Swiss regulators. Upon Crown Forex S.A request, Mr. Riverola contacted with a member of FINMA's staff that was very close to the investigation. The source confirmed that the decision had indeed been taken but at this time FINMA refuses to talk about liquidation. Once the decision will be enforced, then it will be made public and it can be liquidation, a fine or just a go to keep business as usual. If the company does not opposite, the decision to liquidate will be enforced around March 23rd and if they opposite, then the issue will go to court and would take longer.
On the other hand, Shadi Swais, CEO at Crown Forex S.A, says that Crown Forex has enough assets to afford all of its clients deposits: Crown Forex have more than enough assets to cover clients liabilities further more Crown shareholders are ready to pump CHF 10Mil into the company as capital when the current situation subsides.