7.21.09
Dear Investors:
The purpose of this letter is to inform you of recent developments at Universal Brokerage FX (“UBFX”) and the UBS Diversified FX Growth Fund (“UBS Fund”). UBFX and UBS Fund have received subpoenas from the U.S. Securities and Exchange Commission requesting certain documents. Our attorneys are responding to these requests. In addition, nine individuals have filed a civil lawsuit making allegations including fraud.
UBFX and UBS Fund are not accepting investor funds. Investors should not send funds to UBFX, UBS Fund, Crown Forex, or indirectly to Crown Forex via Entrust or Millenium. UBFX and UBS Fund have received information that Crown Forex is in bankruptcy proceedings. For more information regarding Crown Forex, see the following website:
CROWN FOREX SA. UBFX and UBS Fund are unable to fulfill withdrawal or redemption requests.
Sincerely,
Universal Brokerage FX & UBS Fund