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Interactive Brokers to pay $100,000 fine for allowing convicted felon to trade on its platform

From financefeeds.com

Online trading major Interactive Brokers LLC has agreed to pay a $100,000 fine to resolve a New Jersey Bureau of Securities investigation related to a financial scam perpetrated on Interactive’s online trading platform. The Division of Consumer Affairs and the Bureau of Securities today made the relevant announcement. The scam was run by three-time convicted financial felon Peter Zuck who used Interactive Brokers’s online trading platform in a scheme to defraud investors in his Osiris Fund Limited Partnership. The Bureau has found that Zuck was able to open at least 16 accounts on the Interactive Brokers’ platform – ... (full story)

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