Expected losses from a collapsed Queen St foreign exchange broker have grown considerably as it was revealed the company owes creditors more than $10 million. 'I'm changing banks in the New Year, I'll get it sorted'," one said of Forex Brokers' managing director Russell Maher. Regan Young, listed on Linkedin as the business development manager for Forex Brokers, said he had left the company "six or seven weeks" ago. Molloy said in a statement Maher "regrets that both investors and transactional customers may lose funds due to the liquidation of the company". Forex Brokers' website, offline a week prior to liquidation, said the company was started "with the goal of providing a higher standard of service delivery".

Source: New Zealand Herald April 18, 2017 17:03 UTC