mksummny since you're close to fredricks there's only one question not answered. why and who turned in fredricks?also will the sec go after the other 100's of llc's set up like tuco?the sec had to get the word out as within a week or 2 of this case hitting assent and several other prop firms changed there paper work not allowing this type of structure.
Its pretty sad when you're up against, basically an unlimited budget. The gummit probably wins most of their cases on this edge alone.
Stand up guy? Like f@#k he is. Now that he has his furniture back he is gonna grab a pro bono ride and fight the power? Give it a rest. Tuco was run by a moron. So unless you mean he is a stand up f#cking moron, then yea, hard to argue that.
i wonder if this appeal will freeze the supposed distribution which was supposed to occur end of May? and if so it doesnt do much to help all the tuco traders does it?
Is there any info on the basis of the appeal? The only filing I have seen is a "notice of appeal" that does not say what is being appealed.
Lennon is going to milk this puppy. Take a look at some other cases he's working on and read the applications for fees and disbursements. Check out Learn Waterhouse Inc on his site. Between his company and his lawyers, nearly 400K to his company and over a million to his lawyers!!!! He will milk this puppy worse than a farmer milking cows. Good luck folks.
my friend who was with tuco said he talked with lennons secretary this week. she said the books were a mess and there were large open positions that were never closed. she said there was no fraud. he said she acted like the total payout wouldn't be anywere near 100%. again just passing along the info
Did tuco have a compliance officer? Isn't this the first hire you make when you're in the securities industry to make sure you're, well... compliant?
Not sure what the point of this post is since Lennon did not file the appeal. Lennon is only going to get away with what the court allows him to get away with. What good does it do to stir things up and rub it in that people are losing money?
Tuco was operating as an unregistered broker/dealer, and being in compliance with SEC rules apparently was placed in the backburner. The owners made up for this shortcoming though by being "stand up guys".