I think a chunk of that was overdue commissions from GLB too... think total receivables was closer to 3.5M... but yea, 7-fig surplus if you count it all.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Tuco not an anomaly
- Thread starter downtickboy
- Start date
I think a chunk of that was overdue commissions from GLB too... think total receivables was closer to 3.5M... but yea, 7-fig surplus if you count it all.
Quote from propseeker:
Try not thinking then, doesn't suit you. Just look here... all you will need is basic word and number recognition and a couple bucks to register a pacer acct:
http://dockets.justia.com/docket/court-ilndce/case_no-1:2008cv01685/case_id-218370/
Yea, they were ECN rebate receivables and IMO they should've been counted, but to each his own... in the very least it would have dispelled the whole fraud allegation.
I liked your whole russian shpeel though... funny.
The russian shpeel came from tuco apologists on the initial thread that was deleted. Excuse me for believing tuco apologists. I think it was lescor, but it might have been another one. If you wish to taunt someone, I suppose I'm an easy target, seeing as how i'm not an apologist for these grey area operations, but then I didn't get stuck in one of these places when it went down, after all the warnings on this forum. Did you?...think?
Quote from propseeker:
I liked your whole russian shpeel though... funny.
The "whole russian shpeel" actually originated from a Tuco trader who had been in contact with your man Doug Frederick.
http://www.elitetrader.com/vb/showthread.php?s=&postid=1821977#post1821977
I know exactly where it came from... what I think is FUNNY, is you guys putting some negative spin on it and using that as proof of fraud, when all throughout this thread there have been links to the court papers where the acct docs are viewable. Nowhere on those docs will you see anything resembling "Receivables: 1M - Untrustworthy Russians".
I'll say it again, register your pacer account, read the docs and come back and have a serious discussion... otherwise, just like you said, you're easy targets, because your arguments are based on absolutely nothing.
I'll say it again, register your pacer account, read the docs and come back and have a serious discussion... otherwise, just like you said, you're easy targets, because your arguments are based on absolutely nothing.
It seems to me it would pay for Tuco traders who have monies frozen by the reciever to complain to the judge who appointed the reciever . and here is a link to the contact information
http://pview.findlaw.com/view/2144241_1?noconfirm=0
http://pview.findlaw.com/view/2144241_1?noconfirm=0
great link.... now there's a really easy way to be proactive about this:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1894410#post1894410
http://www.elitetrader.com/vb/showthread.php?s=&postid=1894410#post1894410
Quote from lescor:
There was no capital shortfall at Tuco, no missing money. It was stuff like a group taking a payout of their profits at the end of the month and the account used to make the payment showed the debit, but the sec accountants wouldn't recognize the offsetting equity in the trader's sub accounts, so they counted it as 'missing money'. Or ecn's that owe the firm credits, but pay a month after the fact.
Tuco had excess capital when the sec stepped in, more than enough to pay all the traders all of their money. The way the sec handled things though, making the company pay for all the sec's expenses and the disgusting money grab of the court appointed receiver, we hope we'll get it all back. If we don't get every dime back, well, I guess that's the cost of having the government 'protect' us. Exactly the same as having the Corleone family protect your business.
Funny how you knew to pull out your funds days b4 sec came knocking. Keep up the great work.