CWM FX was a foreign exchange trading firm located at the Heron Tower at 110 Bishopsgate, otherwise known as Salesforce Tower. Dealing at the firm was suspended in March 2015 following a police raid on the firm and 13 arrests. There have been no convictions relating to these arrests as of 15 June 2015. CEO Anthony Constantinou was convicted in 2016 of sexual assault and sentenced to serve 12 months in jail.[1] London Police later revealed that most of the company's revenue came from a £50m alleged Ponzi scheme which promised returns of 5% per month.[2]
Operations
The firm formerly used the foreign exchange trading "white label" trading platform of Leverate Financial Services Limited,[3] a Cyprus Investment Firm (CIF) licensed and regulated by the Cyprus Securities and Exchange Commission[4] that operated in London using the MiFID rules of the European Community.