Big elephant in a room - Genesis Securities stole traders money?

Discussion in 'Prop Firms' started by aiforce1, Dec 3, 2010.

  1. aiforce1


    Now its a fact that top management of Genesis securities not refunding ANY funds that belong to traders, there close to 1 mol dollars of my and my traders money stuck in their coffins.

    Whats even more f&* up that no one posts anything and everyone is hush hush about it.

    Wake up people, its time to get a lawyer and throw around some personal lawsuits!

    Waiting and hoping will NOT refund your money!

    God damn another TYCO!

    Fess up and stop hiding!
  2. cstfx


    It's TUCO.
  3. More details please
  4. gr8tr8r


    Did you trade prop, retail, through a group (Bear by chance?)? please explain.

  5. aiforce1


    Bart and Con i guess blew up and all the traders funds with them
  6. gr8tr8r


    This is what I have heard. Bear Trading got hit with a huge loss from a foreign group. That basically shut them down. They screwed over many of their foreign traders, but paid off US ones. They started a new group but I'm not sure what the name of it is.

    I don't think Genesis has stolen anyones money. Bear just had a retail account with them that lost it's money. I don't think Genesis can be blamed for that. However, can this be part of the reason Genesis is leaving the clearing business and just focusing on Laser?
  7. aiforce1


    All of their eastern European outfits are working fine, ppl are trading, but they moved all accounts to LEK Securities since Genesis not clearing prop accounts.. just these two Bart and Con screwed up many traders because somehow they used traders money to pay off their trading loss.. I wonder if they have a facebook page.. anyone remember their last names? Several pool leaders are left with NOTHING ... Thats the danger of having uninsured prop account account
  8. bigpapi


    didn't genesis have other prop firms under it? are they going belly up too? if i was a member of those smaller firms i would pull my money out now just in case.
  9. bigpapi


    who does business with a guy named con

  10. zdreg


    you don't do business with someone named big con. plain old con is just chicken feed. meaningless rightBIGpapi!.:D
    #10     Dec 5, 2010