Worldco Fined by NASD

Quote from zdreg:

Quote from I Missed Boat:

Or maybe he just didn't know to challenge the contract he'd likely signed that required a $50,000 capital account before receiving full pay-out. Or maybe he simply traded a lot of size. What kind of an asshole are you (obviously probably a member or rep of ownership asshole) to talk down $15,000 for someone and to make absurd assumptions on why he might have had $45,000 in his cap account (especially when Worldco pushed contracts requiring more).

worldco pushed those contracts but no one forced anyone to sign a golden chain contract. worldco had competitors which might have offered a better deal.

what IS your point? You made snide and absurd assumptions on why that guy might have had $45,000 in his account (when some big traders had many times more), when it could be as simple as the fact that Worldco pushed that in their contract and he signed. So now he wants his $15,000, especially since Worldco lied for over a year about the state of their financial affairs (right up until the week they went under, when they were still bringing in new money) and did other shady things.
 
Quote from zdreg:




how about a little sympathy for al guido caught in between grumbling upper management and grumbling traders.

AG is doing just fine, and didn't lose a dime. Hard to feel sympathy for that. And it is still unclear whether he knew about the financial situation early on and was then a party to the deception, or whether he was deceived himself (probably the former, but possibly the latter).
 
Quote from 2yearNewbie:

Geez ZDREG maybe you are just a moron with a keyboard and spare time. $40,000 was alot of the trader's cap requirement

what is your point?
 
Quote from Casey30:

That was certainly a good party that year. Only went down hill from there.

Free bar,plenty of food,sushi,good music.That girl who ran the agency desk Lynn Whelan looked very hot:D
 
I've known a number of people who got really screwed by this firm. I've even visited the firm in new york. really big office on wallst but im glad i didn't go with them. What happened to the initial deposits of the former traders...? Did they settle yet?
 
Quote from realstockaddict:

I've known a number of people who got really screwed by this firm. I've even visited the firm in new york. really big office on wallst but im glad i didn't go with them. What happened to the initial deposits of the former traders...? Did they settle yet?

Good question. What is the latest news on trader capital?
 
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