The Globe and Mail reports in its Tuesday edition that website My Forex Funds said it wanted to find profitable, successful foreign-exchange traders and split profits with them in long-term partnerships. The Globe's David Milstead writes, however, regulators in the United States and Canada allege it was all a fraud, and a receiver will now take control of $90-million held by the company's Toronto-area founder and chief executive officer as the matter is tested in courts on both sides of the border. In late December, the Ontario Securities Commission obtained a court order to freeze the assets of Canadian and U.S. corporations behind My Forex Funds, both named Traders Global Group Inc., and their sole owner, Murtuza Kazmi. The OSC argued that the $90-million in frozen funds will not come close to covering the $310-million (U.S.) regulators allege Traders Global fraudulently collected in just under two years. The OSC, which was brought into an investigation by the U.S. Commodity Futures Trading Commission (CFTC) in 2022, has not launched a formal fraud case against Mr. Kazmi or Traders Global, which is based in Vaughan, Ont. The CFTC filed a civil case in August that alleged that "Traders Global is a fraud."