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Tuco update assets frozen permanent receiver
- Thread starter wtf
- Start date
Quote from briana:
Unregistered. Anyone who lost money was asleep at the wheel...
So, what is the point of your post?
Would you hand your trading capital to an unknown person at a restaurant? Do you respond to phishing scams? Nigerian scams? This broker was unregistered, and the customers never should have sent in their money withut checking.
Are you saying they got what they deserved?
Yes.
Does rubbing in the fact they lost money make you feel good?
That was obviously not the point. When you buy a house, do you hire a lawyer to do a title search and write up a contract to represent your interests? Do you walk through the house? Have a home inspection?
The point is, if you are in the habit of trusting your money to strangers, and refuse to check their history, you will often lose your money. I believe there was a saying? "A fool and his money are soon parted?"
Quote from TraderZones:
Would you hand your trading capital to an unknown person at a restaurant? Do you respond to phishing scams? Nigerian scams? This broker was unregistered, and the customers never should have sent in their money withut checking.
Are you saying they got what they deserved?
Yes.
Does rubbing in the fact they lost money make you feel good?
That was obviously not the point. When you buy a house, do you hire a lawyer to do a title search and write up a contract to represent your interests? Do you walk through the house? Have a home inspection?
The point is, if you are in the habit of trusting your money to strangers, and refuse to check their history, you will often lose your money. I believe there was a saying? "A fool and his money are soon parted?"
I second the "GO BACK TO YOUR HOLE"
So, the point of your post was to call people "fools". Guess that applies to LESCOR and DUSTIN. Take a look at their PL.
Check out the word sympathy. Consider if you ever did anything risky or just plain stupid. I will admit I have.
Thank you for your wisdom. Now we can get back to trading.
.
From what understand based on the report I am reading, all traders will get a portion of their money back by April 15th and the rest at a later date
Quote from briana:
So, the point of your post was to call people "fools". Guess that applies to LESCOR and DUSTIN. Take a look at their PL.
Your grasp is weaker than your understanding.
Consider if you ever did anything risky or just plain stupid. I will admit I have.
That is very apparent
Thank you for your wisdom. Now we can get back to trading.
Thank you for your naive and relatively useless attempt at censorship. You must go ballistic reading these forums and trying to correct everyone. I guess you must have been one of those with an account at Tuco.
In the meantime, you are going on Ignore. It has been a colossal waste of time responding
So, the point of your post was to call people "fools". Guess that applies to LESCOR and DUSTIN. Take a look at their PL.
Your grasp is weaker than your understanding.
Consider if you ever did anything risky or just plain stupid. I will admit I have.
That is very apparent
Thank you for your wisdom. Now we can get back to trading.
Thank you for your naive and relatively useless attempt at censorship. You must go ballistic reading these forums and trying to correct everyone. I guess you must have been one of those with an account at Tuco.
In the meantime, you are going on Ignore. It has been a colossal waste of time responding
I t looks like Tuco has settled. They are out of business. I do not know what to make of it. They have plead to running an unlicensed B/D. This is most likely has something to do with the Tuco pricipals affiliation with GLB. The LLC model does not work with a registered rep of a B/D in charge. There was no mention of Reg T or the PDT. The SEC most likely wil have to write new legislation to affect LLC,s that are structured properly. Perhaps asking that voluntary change to be enacted or they will make life misrable for all involved. As far as the people I know that operate an LLC there has been no contact from the SEC. There B/D are aware of the situation but have not been contacted either. This includes firms that clear through Penson. The judgment makes no mention of misuse or misappropriation ie. theft of members funds. I do not know if that is a separate criminal issue or if they have been cleared of any wrong doing in that regard.
i saw the email from reciever. sure as hell looks like there was something big going on. the work bk is mentioned. it doesn't look certain all money will be returned