Ebond Securities llc
- Thread starter Shineyg
- Start date
Here's the html version of their 2016 SEC audit. https://webcache.googleusercontent....it2016.pdf+ebond+securities+llc&hl=en&ct=clnk
I think you're screwed. Those are absolute dollar amounts, ie no "000" after the amounts.
$36,000 in assets and liabilities.
Mr Fairweather is probably long gone.
Call those auditors down in Georgia. Maybe they'll tell you something.
Yeah i saw that while searching for info. Thx
This is what they sent
To All Clients:
IMPERIAL EQUITY HOLDINGS HAS NOT AND WILL NOT MERGE WITH EBOND SECURITIES LLC. PLEASE BE ADVISED THAT ANY COMMUNICATION FROM ANY FIRM IN CLAIMING TO HAVE COMPLETED A MERGER WITH EBOND SECURITIES LLC IS FALSE.
ALL EBOND SECURITIES CLIENT ACCOUNTS REMAIN AS THEY WERE BEFORE LIQUIDATION BEGAN. THE TIME AND DATES OF ALL TRADES IN EVERY CLIENT ACCOUNT ARE PRESENTLY ON RECORD. THE COMPANY EBOND SECURITIES LLC MERGES WITH WILL LEGALLY HOLD ALL RELEVANT INFORMATION PERTAINING TO EACH ACCOUNT WHICH WILL ALLEVIATE THE NEED FOR ANY CLIENT ACCOUNT TRANSFER FORMS.
To All Clients:
IMPERIAL EQUITY HOLDINGS HAS NOT AND WILL NOT MERGE WITH EBOND SECURITIES LLC. PLEASE BE ADVISED THAT ANY COMMUNICATION FROM ANY FIRM IN CLAIMING TO HAVE COMPLETED A MERGER WITH EBOND SECURITIES LLC IS FALSE.
ALL EBOND SECURITIES CLIENT ACCOUNTS REMAIN AS THEY WERE BEFORE LIQUIDATION BEGAN. THE TIME AND DATES OF ALL TRADES IN EVERY CLIENT ACCOUNT ARE PRESENTLY ON RECORD. THE COMPANY EBOND SECURITIES LLC MERGES WITH WILL LEGALLY HOLD ALL RELEVANT INFORMATION PERTAINING TO EACH ACCOUNT WHICH WILL ALLEVIATE THE NEED FOR ANY CLIENT ACCOUNT TRANSFER FORMS.
Robert Morse
Sponsor
Did they custody any funds? When I look at their brokercheck I do see any relationship with any clearing broker. What did they do before they closed for you?
They said they froze the accounts. Not too much info.
Here is the original email
Dear Clients,
We regret to inform all retail and institutional clients that EBOND Securities LLC has gone into receivership as the result of our forth quarter company audit conducted at the end of December 2016, as a requirement for our broker dealer merger in Asia.
The audit uncovered massive losses due to leveraged trades made by one of our Senior Institutional Traders over the past 2months. These trades were very large Institutional investments, which have realized a loss in excess of 50 million U.S. dollars. As a result of this discovery, the opening of EBOND Securities LLC, Hong Kong offices will be delayed and all Hong Kong & U.S bank accounts have been temporarily frozen. EBOND Securities LLC is being forced into receivership i.e. bankruptcy.
As most of you know, our retail division has been operating for over 4 years. Fortunately enough, our retail division is aseparate entity and is not legally bound to the institutional trading division of EBOND Securities LLC. We currently manage over 400 retail accounts, which have developed into a considerably valuable portfolio.
In light of establishing two separate divisions, EBOND Securities LLC retains
the option to merge our retail division with another Broker Dealer. Other than being entangled in the temporary freezing of funds, our retail division has had zero disclosure events and no previous problems.
EBOND Securities LLC has received interest from a third party Broker Dealer looking to acquire our retail division. Negotiations are currently underway to swiftly find a resolution for merging and releasing the funds of our retail division. In doing so, we hope EBOND Securities LLC’ retail division will subsequently avoid bankruptcy.
Following the acceptance of an M.O.U. by the third party Broker Dealer and the approval from the EBOND Securities board, all funds will be released and business will return as normal. We look forward to announcing a deal is in place within the next three – six weeks and avoiding our retail clients from going through the process of bankruptcy proceedings.
In addition to the chosen solution previously mentioned, we are also working around the clock with US bankruptcy attorneys to have the frozen accounts released.
We are extremely sorry for any inconvenience this might have caused. I assure you that EBOND Securities LLC has taken the correct steps forward and is extremely confidant that business will return as normal in the coming months.
In conclusion, please be advised that all retail client accounts (including active trades and/or private placements) havebeen liquidated and remain frozen until the retail Broker Dealer merger has been completed. Upon completion of the “merger agreement” all clients will be contacted and trading accounts will be back to normal.
It is also with regret that I must announce the Open House Event planned form this month, March 2017 will now be postponeduntil further notice. We will keep everyone informed.
We understand that everyone has a lot of questions and we ask you to please bear with us.EBOND Securities LLC will not be able to respond to phone calls or emails at this time.
We look to be in contact with everyone as soon as confirmation is received that our retail division’s merger arrangements are in place.
Thank you for your ongoing support.
Robert Morse
Sponsor
Maybe you should contact SIPC.
http://www.sipc.org/list-of-members?query=EBOND+Securities
http://www.sipc.org/list-of-members?query=EBOND+Securities
Thankyou. I live in Australia but will give them a call on my Thursday night.