GAIN Capital To Acquire Refco FX Accounts

Ok, first did you go to our site and ask how people that are there feel about what is being done for them?

Second, 199 paid members to a legal fund is very impressive when you consider that we're all volunteers. Attorneys that are competent in this area of law involving this case were impressed when our numbers were 60.

Let me ask you something. Are you a RefcoFX account holder? If so, what are you doing to protect your money in the account that is frozen? Are you paying for your own legal advice by yourself?

Yours,
Robert M. Burns
moderator
www.refcofxaccountholders.com



Quote from mlollar:

I read all that already. Copying and pasting didn't help me.
180 members isn't impressive.
Mike
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Quote from lenwhistler:

Anyone from the Refcofx account holders group care to take a stab at this?

http://www.elitetrader.com/vb/showthread.php?s=&postid=1130136#post1130136

How did Mr Duffy arrive at 240 trades per month? Or was that a typo? I come up with 45 trades per month.
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Why is this such a tough question to answer?

Since the Refcofx account holders group has posted this information to Elite Trader I would think that they would answer it. How does Mr. Duffy come up with 240 trades per month?
 
We have about 400 that are watching what is going on, of whom 200 have paid contributions to our legal fund.

And you didn't answer my questions in the earlier post. So you must not be an account holder. If you were you would be looking at what we've accomplished with appreciation.

Quote from mlollar:

I was comparing the impresiveness of 180 (199 whatever it is) to the total 10,000 plus account holders.
Mike
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Since my first question is being ignored by the Refcofx account holders group I will try a second question regarding this quote from Mr. Duffy:
"The 17,000 RefcoFX traders, who have about $103 million in the firm, plan to file an official protest today in the U.S. Bankruptcy Court in New York against the deal, according to Todd Duffy, an attorney representing the customers."
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17,000? Shouldn't that number be about 200? Mr Duffy appears to inflate his numbers.
 
Len,

Why don't you ask Mr. Duffy yourself. His email is:

tduffy@duffyamedeo.com

Perhaps he was computing the number incorrectly. My guess is he was applying the number required for 6 months instead of just one month. In any event, the numbers required for most traders is excessive. There is little debate about that.

Quote from lenwhistler:

Since my first question is being ignored by the Refcofx account holders group I will try a second question regarding this quote from Mr. Duffy:

17,000? Shouldn't that number be about 200? Mr Duffy appears to inflate his numbers.
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