Roe said he doesn't think the forex customers' argument will succeed because they were warned when they opened the accounts that they wouldn't receive the same protections as commodities investors. "That's one of the things that's going to tear apart their case," he said.

Attorneys for the forex customers, however, argue that they were promised by PFG representatives that their funds would remain customer property and be held separately for their trading. They say the warning that their funds lacked safeguards was vague and contradicted by other statements. Given the "top down culture of corporate fraud at PFG," the court should resolve the ambiguity in their favor, their attorneys argued in a court filing.

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