Worldco Going Out of Business

Quote from Bluedog:

So what is the latest on Worldco?

Are Worldco traders still trading there waiting for an official announcement or are the offices totally shut down?

There seems to be no official statement or press release yet and the Worldco website seems to be down now!
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no return of capital to traders promises promises
 
My buddy at Worldco got a check for 5k out of the 25k they owe him.

The firm said see ya!!!

That's all folks, nothing he can do but move on.
 
Quote from Omartrading:

My buddy at Worldco got a check for 5k out of the 25k they owe him.

The firm said see ya!!!

That's all folks, nothing he can do but move on.

So they are paying back 20 cents on the dollar? Is that to everyone or just him. I know somebody that has 750k in the firm.
Are any of the guys talking about getting together to form a class action lawsuit?
 
is this as bad a situation as at Harbor , where traders
had problems getting anything out of the firm?
sorry to ask as this prob was mentioned somewhere
in the thread , but what caused the demise of the firm?

Also ... does this again point to the risk of having money
in an LLC prop trading firm?
 
Quote from axehawk:

Please tell me why someone would leave $750,000 in an LLC?

Well he had his own office and about 50 traders under him who losses he was responsible for.
 
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