CWM FX and the owner Anthony Constantinou, in March 2015, were investigated on suspicion of fraud by false representation, conspiracy to defraud and money laundering.
The police raided offices in the Heron Tower, hauling 13 City workers out of the building and away for questioning ostensibly to do with alleged fraud and anti-money laundering activities. CW World was formed in 2012, and then a host of financial service entities followed, including CWM FX. CWM FX is one of a dozen companies formed in the last two years by Anthony Gregory Constantinou, having formed, grown, and then sold his last company venture after seven years in order to pursue his passion, the financial services market.
Police said that by February 2016 they had not found any money which was genuinely invested and believed the scheme was a Ponzi fraud, in which investors get small dividends before their money is stolen.
But CWM claims it was being unfairly associated with “Operation Broadway”, a police clampdown on “boiler rooms” carrying out suspected investment frauds. The operation involved raids on 21 premises, 20 of which were not connected in any way with CWM, the firm said.
Today, CWM FX is back in the legal spotlight, the City of London Police have made confirmations that they have been working with the authorities in the Cayman Islands on an investigation into the now defunct CWM FX.
It is significant to keep in mind that a condemnation contains allegations only, and that defendants are assumed innocent until confirmed guilty.
The head of the company – Mr. Anthony Constantinou- has hired to join his legal team, a high-profile lawyer as adviser. Now, one of the renowned lawyers in Israel Moshe Strugano Attorney with his company Moshe Strugano & CO has joined as a legal counsel. Moshe Strugano, graduated from law school in London and worked for JP Morgan as a professional lawyer. He offered the most cost-effective deal for the client in terms of opening business abroad, offering a huge number of legal, financial, and business-related services.