My Forex Funds Vs CFTC March 2025 Update

It’s hard to believe how long the My Forex Funds vs CFTC case dragged on. Good for the lawyers, I guess, but for the rest of us, a resolution would be nice. Here’s the latest, not-so-exciting update, with pdfs of the latest filings below.

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Where We Stand

For some time, we’ve been waiting for the judge to rule on MFF’s Motion for Sanctions and Motion to Dismiss. MFF wants the case thrown our or wants sanctions against the CFTC because they misstated some payments to Murtuza Kazmi were for personal use when they were really tax payments.

MFF claims this mistake was made on purpose to hurt their reputation and freeze their assets. The CFTC said it was just an innocent mistake made by two staffers, Ashley Burden and Matthew Edelstein. Burden and Edelstein swore in court that this was true — they had made a mistake and were sorry.

We’ve been waiting some time for these two motions to be decided, and now we know one of the reasons why: there was a settlement on the table that was nearly completed.

However, it looks like that settlement has been pulled from the table. Why? Because apparently Burden and Edelstein filed grievances with their union about how the CFTC evaluated their performance.

MFF want’s to see these grievances, thinking that maybe they reveal that Burden and Edelstein were pushed to lie under oath. The CFTC won’t show them the documents, so now we are back to waiting for the judge to decide on the two motions.

Order of Special Master March 10, 2025

Here’s a pdf of the order from the judge in the case. He explains the issue of the union grievances and encourages the two parties to meet about the union grievances.

Letter from MFF’s Lawyer March 10, 2025

Here’s the letter from MFF’s attorney explaining the importance and relevance of the union grievances filed by Burden and Edelstein. It’s pretty self-explanatory.

What’s next?

Who knows? This case continues to find ways to drag on.

If the CFTC does give up the grievances, and they don’t show anything new, perhaps the settlement is back on the table. If the CFTC refuses to show the grievances or they are caught in a lie, than surely MFF will wait to hear the judge’s decision on their Motion for Sanctions and Motion for Dismissal.

Stay tuned!