Breaking: CWM Responds to City of London Police Investigation

The newest development around the investigation of CWM, which was confirmed by the City of London Police this morning, is an official reply by the firm about the press allegations in previous days and the official police announcement.

The company has been under investigation by the City of London Police department, after ten men and three women, working for the “City-based foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term trading company,” were arrested at the Heron Tower in Bishopsgate on suspicion of fraud by false representation, conspiracy to defraud and money laundering.

According to a company spokesperson, “CWM believe that they have been the victim of an orchestrated campaign initiated by individuals motivated by personal animosity."

Sources close to the company have shared with Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates that some former employees of CWM might be behind a move to damage the reputation of the brand.

"CWM understands from third parties that clients have received calls from an individual; the purpose of the calls appears to have been to raise doubt about CWM as a business. Despite requests made of the police, they have thus far failed to provide the name of a single investor who has raised concerns with them," the spokesperson continued.

According to a company statement obtained by Forex Magnates reporters, CWM have made an offer to the City of London Police to ring fence client funds, additional to those invested, to underwrite investors’ protection and allay any genuine concerns.

"CWM World is a respected group of companies with a multi-million pound turnover, operating with dozens of partners in a number of countries. There is no sustainable basis for these allegations and we will continue to operate as a premier brand," the official CWM statement concluded.