I REQUESTED MY APPLICATION FROM REFCO RX THAT I SIGNED. UNDER ----TRADER AGREEMENT--- # 6 ---IT LOOKS LIKE WE GAVE POWER OF ATTORNEY TO REFCO TO BORROW AGAINST OUR ACCOUNT. PLEASE REVEIW YOUR APPLICATION AND RESPOND THANKS MR D.
FACT: A family member of mine requested a check for $25,000 to be cut from a REFCO segregated futures account at REFCO last Monday, October 24th. On Tuesday, October 25th a check for the above sum was received via FED-EX. Said check was deposited in a California bank that same day and later cleared. The above is completely factual and from personal experience, as opposed to much of the inflammatory rhetoric that has been posted on ET by posters with agendas and axes to grind against REFCO. From my very first post regarding this situation I stated that there was an important distinction to be made between unregulated accounts like that of REFCO-FX, and those of segregated futures accounts such as the ones under REFCO LLC. The above example that I witnessed personally via a family trust is proof positive of such a distinction. Too bad that there are so many ignorant posters that still don't understand how the FCM business actually works. Good luck to all.
perhaps thats one of the reasons they come to this board, apex... because they know there r loads of kind people like you who wldn't just give everybody abuse and wld be willing to share factual information of substance... thks so much...
milbank apparently... think yr best bet is to approach the creditors' committee: http://sg.biz.yahoo.com/051028/3/3w1lh.html good luck
HAVE YOU READ THE INTERVIEW WITH THE OWNER OF FXCM DREW NIV ON DAILYFX.COM HE PLANS ON BUYING BACK REFCOFX SHARES AND TAKING THE CUSTOMERS WITH HIM . HE PLANS TO MAKE THEM WHOLE SOME GOOD NEWS CHECK IT OUT MR D.
THIS THREAD IS BACK IN BUSINESS Somebody, I believe it was Apex Capital, persuaded Baron to close this thread; but then, I persuaded Baron to re-open it.
I recently made, in this thread, the following post, which was then deleted, Baron told me, by one of the moderators. Baron couldn't tell me which moderator deleted it, or why. I think I deserve an explanation as to why my posting was deleted. I also think that my posting should not have been deleted. Here was the deleted post: END OF PREVIOUSLY DELETED POST My post intended to use humour to make a deadly serious point. I was trying to show the absurdity of Apex Capital's latest argument, that the fact that one customer got his money back proves that Refco futures accounts are safe. The facts are exactly the opposite. The famous Jim Rogers alleges he deposited hundreds of millions of dollars, of client funds, into the Refco futures unit's segregated customer funds, just in the past few weeks, but then, Refco embezzled the money by transferring it to a non-segregated account in another Refco entity that went bankrupt, so that the money is gone and Jim Rogers can't get it back. The Jim Rogers allegations disprove everything Apex Capital has been telling us, in various EliteTrader threads, about Refco futures being a safe place to deposit funds. The Refco futures unit has a long history of embezzling segregated customer funds, which is documented in its CFTC enforcement history as far back as 1994. Refco was previously able to use those embezzled funds to cover debts so as to remain afloat long enough so that they could later return the embezzled funds to the segregated customer accounts. I suffered a lot of personal attacks, in retaliation for my warning that this always exposed customers to the risk that embezzled "borrowed" funds would someday not be returned in the event of a bankruptcy. They told us, through Apex Capital, through much of October, in many EliteTrader threads, that this was impossible, but then within days, the headlines told us that the impossible had just happened. I got no apology from Refco or Apex Capital. They instead instigated EliteTrader censorship of my criticisms, even though the headlines proved that I had been absolutely correct all along. So the question now is, why did EliteTrader help Refco to mislead us about these dangers? Why was my posting deleted? What are the rules? Did I break the rules? Are the rules made up as we go along, simply to protect the guilty? Are there any rules? Will postings be deleted, simply because they challenge the constant stream of dangerous lies, spread by Refco or other frauds, on EliteTrader bulletin boards? Do Refco and other fraudulent brokers have the ability to use EliteTrader to accomplish their fraudulent schemes and public relations goals? Do Refco and other fraudulent brokers have the ability to get posts deleted and threads closed, just because those threads and posts challenge brokerage frauds?
END OF PREVIOUSLY DELETED POST My post intended to use humour to make a deadly serious point. I was trying to show the absurdity of Apex Capital's latest argument, that the fact that one customer got his money back proves that Refco futures accounts are safe. The facts are exactly the opposite. The famous Jim Rogers alleges he deposited hundreds of millions of dollars, of client funds, into the Refco futures unit's segregated customer funds, just in the past few weeks, but then, Refco embezzled the money by transferring it to a non-segregated account in another Refco entity that went bankrupt, so that the money is gone and Jim Rogers can't get it back. The Jim Rogers allegations disprove everything Apex Capital has been telling us, in various EliteTrader threads, about Refco futures being a safe place to deposit funds. The Refco futures unit has a long history of embezzling segregated customer funds, which is documented in its CFTC enforcement history as far back as 1994. Refco was previously able to use those embezzled funds to cover debts so as to remain afloat long enough so that they could later return the embezzled funds to the segregated customer accounts. I suffered a lot of personal attacks, in retaliation for my warning that this always exposed customers to the risk that embezzled "borrowed" funds would someday not be returned in the event of a bankruptcy. They told us, through Apex Capital, through much of October, in many EliteTrader threads, that this was impossible, but then within days, the headlines told us that the impossible had just happened. I got no apology from Refco or Apex Capital. They instead instigated EliteTrader censorship of my criticisms, even though the headlines proved that I had been absolutely correct all along. So the question now is, why did EliteTrader help Refco to mislead us about these dangers? Why was my posting deleted? What are the rules? Did I break the rules? Are the rules made up as we go along, simply to protect the guilty? Are there any rules? Will postings be deleted, simply because they challenge the constant stream of dangerous lies, spread by Refco or other frauds, on EliteTrader bulletin boards? Do Refco and other fraudulent brokers have the ability to use EliteTrader to accomplish their fraudulent schemes and public relations goals? Do Refco and other fraudulent brokers have the ability to get posts deleted and threads closed, just because those threads and posts challenge brokerage frauds? [/QUOTE] Neither you, I, or 99.9999% of people here know how JR's money ended up at RCM. Some have proposed explainations but you are not prepared to entertain any view other than your own conspiracy theories. It's pointless debating this with you because you are so blinkered. However you have now excelled yourself in accusing ET of being on the side of REFCO or other "fraudulent brokers" - more conspiracy theories - when on ET there is a whole host of your prior posts on this subject, that would indicate otherwise. You are obsessed.