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LBKM Secures Full Return of Client Funds Seized by DOJ

April 18, 2022

Arthur Middlemiss and Cristián Francos secured the return of all funds seized by the U.S. Department of Justice from U.S. accounts maintained by two broker-dealers based in Uruguay and New Zealand, respectively, both of which operated in Argentina. Middlemiss and Francos argued successfully that their clients’ activities were wholly legitimate, that neither client made misrepresentations to their U.S. banking partners to secure services, and that their operations did not run afoul of U.S. laws barring the operation of unlicensed money service businesses.