Dead Forex Firm Just Cashed $7.2 Million Settlement - Here's What Traders Need to Know
Key Points
- Lucid Markets, a defunct trading firm, received a surprise $...
Sometimes dead companies make better money than live ones. Lucid Markets, which shut down trading operations in 2018, just received a $7.2 million check from the Foreign Exchange Benchmark Rates Antitrust Litigation - proving that sometimes the best trading strategy is to stop trading altogether.
This unexpected payday comes from a massive lawsuit against 15 major banks accused of rigging forex markets between 2003 and 2015. The banks collectively paid $2.31 billion in settlements, and apparently forgot to check if all the recipients were still breathing (financially speaking).
**When Crime ...
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