BSI Capital accounts frozen

Discussion in 'Prop Firms' started by gpieraccini, Jul 28, 2013.

  1. Anyone else have their account frozen? Wondering if I have any recourse or what the likely outcome will be here?
  2. see the other posts about ibworldwide, nonko, lake street, etc. the international firms are being pursued and shut down. The wise thing to do would be pull your money out and find a registered U.S.-based firm to trade with.
  3. Frozen with my money tied up and they are not sending wires :(
  4. Broad Street shut down last year. Lake Street, Broad Street, IB Worldwide, TMG were all related.
  5. My account is also frozen. Need some legal help. One of the owners lives in FL. I have three of their phone numbers but their mailbox is all full right now. I could imagine how many people are calling them.

    Could we start a conversation on what kind of legal issues we are facing?
  6. You sure TMGC is related?
  7. not related in terms of ownership or accounts. I meant related in terms of providing services to trader off-shore. For a long time, it seemed to be acceptable to operate under foreign exemptions. Judging by what I have seen this year, this isn't the case. There is a good article up about the SEC switching it's role from "sophisticated investors" model to a top-down consumer-protection-bureau. They no longer are comfortable with Americans trading for foreign firms and foreign customers are becoming the proverbial "wrong side of the stick". I've been saying this for YEARS here that the small investor keeps getting more and more hurt by these regulations, small firms proceed to shut down, and we're left with fewer and fewer choices.
  8. hey guys any word yet about your funds?
  9. I had an account at Titan with a small stock position, the $$$ in the account was very small, <1k, however I have heard some people had 5 or 6 figures. They seem to have gone ghostship last Monday, Das trader turned off. I spoke to tradereporting,com which is a very good and professional service, I was told Titan has not paid its bill. The clearing firm is also a ghost at this point.
    I have a letter from the BSI law firm in Belize, below is their contact info. Seems all funds were frozen (seized seems more likely)
    I will post the contact number for the BSI lawyers in Belize below.

    All of the principals involved with firms like Titan smell of low level mob scum to me. Anyhow, amazingly they are trying to do it all over again here.

    This is a link to recruiting video for Titan thru a questionable firm called out in Vegas

    and here is the website today....same thing, just a different prop firm. Anybody stung by BSI and Titan should contact the guy associated with that website...Mario Marciano

    looks like the same slimy bunch, just a lil different makeup!
  10. Anyone have a rough estimate of how many traders' funds are held up and who exactly froze the funds? the bank? regulators?
    #10     Aug 25, 2013