It’s in the complaint. They were using a third party vendor for both the live accounts and the training accounts:
In the summer of 2014, the firm that owned and licensed Platform A discovered Nonko’s training accounts scheme, after a technical inquiry from a Nonko customer revealed that the customer wrongly believed that his training account was a live one. On August 29, 2014, the owner of Platform A sent out an email blast to all Nonko customers alerting them that accounts starting with “TR” were training accounts; the firm then discontinued its relationship with Nonko, accusing Nonko of deceiving its customers.
Ah, thanks for the update. The wheels of justice turn really slowly though. Some of those account holders could've been long dead before they got their money back. :(
Well, for starters, they were operating as an unregistered broker. [1] So I'm guessing that they were already in trouble for that, first, and the rest was turned up in the course of investigating and prosecuting that case.
