MARS FX INVESTMENT LOSSES – BANKRUPTCY AND ALLGATIONS OF MISSING FUNDS
MARS FX INVESTMENT LOSSES – BANKRUPTCY AND ALLGATIONS OF MISSING FUNDS
Investors who purchased interests in Mars FX US LP and suffered losses may want to have their investments and the circumstances surrounding the sale reviewed.
Call 800-500-4442 for a free consultation with Goodman & Nekvasil, P.A.
Mars FX Filed for Bankruptcy
Mars FX US LP filed for Chapter 11 bankruptcy in March 2026 in the U.S. Bankruptcy Court for the Southern District of New York, Case No. 26-22287. The bankruptcy case is now proceeding as a liquidation, with the court confirming a first amended plan of liquidation on September 21, 2026.
In April 2026, Bloomberg reported that nearly $600 million was missing from Mars FX and that a global effort was underway to determine what happened to the money. Bloomberg also reported that U.S. prosecutors, the FBI and a grand jury had sought information concerning Mars FX and that the matter had been referred to the SEC, CFTC and regulators in other jurisdictions.
MARS FX INVESTMENT LOSSES – BANKRUPTCY AND ALLGATIONS OF MISSING FUNDS
Mars FX Was Sold Through Registered Broker-Dealers
Mars FX’s SEC Form D filings identify individuals who received sales compensation in connection with the offering and identify their associated broker-dealers.
The filing identifies:
- Tamara Totah (CRD #6592304) — Old City Securities LLC (CRD #171910)
- Andrew Kalt (CRD #4681242) — Frontier Solutions, LLC (CRD #136102)
- Brent Gillett (CRD #2729346) — Frontier Solutions, LLC (CRD #136102)
The Form D reported approximately $239.3 million sold to 280 investors and estimated $191,333 in sales commissions.
For investors who purchased Mars FX through a registered representative, the role of the representative and broker-dealer may be important. The circumstances surrounding the recommendation, the information provided to the investor, the compensation received, and the due diligence performed before recommending the investment may be relevant to a potential claim.
Pending Mars FX Customer Complaint Against Tamara Totah
A publicly reported August 2026 customer complaint against Tamara Totah and Old City Securities alleges approximately $7.25 million in damages relating to a Mars FX investment. The complaint reportedly alleges unsuitable recommendations, misrepresentations and omissions of material facts, and securities-law violations.
Mars FX Investors May Have Claims
The Mars FX bankruptcy may leave investors pursuing recovery through the bankruptcy process. Investors who purchased Mars FX through a broker-dealer or registered representative should also consider whether they have potential claims relating to the sale or recommendation of the investment.
Goodman & Nekvasil, P.A. represents investors in FINRA arbitration and other investment-related claims.
If you invested in Mars FX through a broker or financial professional and suffered losses, call 800-500-4442 for a free consultation.
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to its clients.
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $400 million dollars on behalf of victimized investors.
We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some information in this article was obtained from SEC filings, FINRA records, and other public sources reviewed on 9/23/26. If you believe any information is inaccurate, please contact our office at 1-800-500-4442.