FPFX Technologies, LLC, a retail trading technology provider, has lodged a lawsuit against Funded Engineer, a proprietary trading firm, and its operators. The lawsuit, filed in Palm Beach County, Florida, alleges breach of contract by Tristian Talbot of Thailand and Harri Jean David Sawicki of Vietnam, who are believed to control Funded Engineer.
FPFX Tech claims that under the terms of a software services agreement established on June 2, 2023, the defendants were authorized to utilize FPFX Tech’s software in exchange for regular payments. However, allegations have surfaced following an audit in January 2024 that suggest the defendants manipulated records to lessen the amounts payable to FPFX. The complaint details fraudulent practices such as the creation of fictitious trading accounts and “wash trading,” leading to an estimated loss of $700,000 in revenue for FPFX Tech.
In the wake of these allegations, described as “nefarious, illegal and unethical activities,” FPFX Tech terminated the agreement on February 7, 2024. Subsequently, the company demanded mediation in March, aiming to amicably resolve the dispute as outlined in the agreement’s terms.
FinanceFeeds, upon reaching out for comments, received no immediate response from either FPFX or Funded Engineer.
FPFX Technologies had previously informed FinanceFeeds of an audit that purportedly exposed “a months-long scheme” by Funded Engineer. The scheme was said to inflate payout figures deceitfully, impacting both FPFX Tech and its public image. The audit identified numerous fraudulent actions, including bypassing Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, all of which were allegedly orchestrated to manipulate the company’s payment statistics.
Additional audit findings suggested that Funded Engineer manually created fake user profiles, bypassed AML/KYC checks, and engaged in wash trading to artificially boost payout statistics. Moreover, despite recording payouts in their system, the firm allegedly did not disburse actual funds, feigning transactions through cryptocurrency wallets and payroll services without real financial transfer.
The investigations concluded that Funded Engineer had exaggerated its payouts by over $2 million, a claim promoted on social media by Tristian Talbot, a founding member of the firm.
In response to FPFX Tech terminating its licensing agreement, Funded Engineer addressed its community, expressing disappointment over the termination and the negative publicity that ensued. The firm highlighted the sudden nature of the termination and the lack of dialogue or communication prior to FPFX Tech’s public relations campaign against them.
While Funded Engineer acknowledges the legal nature of the dispute, which restricts their capacity to discuss the matter openly, they reassure their community of their serious approach to the allegations.
