Registered: Oct 2002
04-09-08 12:15 AM
just received this email from the receiver when I inquired him about his supposed 'help'
"The Securities and Exchange Commission filed its case against Tuco
Trading and Douglas Frederick because it believed that Tuco Trading and
Mr. Frederick were violating securities laws and that if Tuco continued
to operate, its members and creditors would be further damaged. The SEC
asked the District Court that I be appointed as receiver for Tuco and
the District Court agreed that my appointment was in the best interests
of the company, its members and creditors. My fees and costs, and those
of my professionals, are paid from the assets of Tuco and Mr. Frederick.
My ultimate goal is to see that the members and creditors of Tuco
receive as much of the amounts they are owed from Tuco as possible.
Substantial accounting, investigation and legal work are required.
However, my team is experienced, works efficiently and is able to
minimize expenses. I hope this addresses your concerns.
Thomas F. Lennon
Receiver for Tuco Trading, LLC"
What I want to know is if the deposits consitute tuco's 'assets'