An Interpol red notice and a warrant of arrest were issued against Michael Atkins following his arrest and release on bail in July 2014.On April 15, Michael Philip Atkins, 51, pleaded guilty in a Singapore district court to carrying on a business for a fraudulent purpose. This came 10 years after he was first arrested here in 2014. He jumped bail subsequently. In March 2023, he was extradited from the US to Singapore.
In the end, the clients received around $12.7 million in total from Aureus Capital and they suffered nearly $6 million in losses. At the time of the offence, Aureus Capital maintained two trading accounts with Oanda Asia Pacific, a separate company which offers foreign exchange trading. Instead of using the amount for forex trading, more than $14.7 million was used for other purposes, such as paying Aureus Capital’s directors, including Atkins.Weekly statements sent to clients concealed the fact that only a small portion of clients’ funds was used for forex trading.
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