I think a chunk of that was overdue commissions from GLB too... think total receivables was closer to 3.5M... but yea, 7-fig surplus if you count it all.
The russian shpeel came from tuco apologists on the initial thread that was deleted. Excuse me for believing tuco apologists. I think it was lescor, but it might have been another one. If you wish to taunt someone, I suppose I'm an easy target, seeing as how i'm not an apologist for these grey area operations, but then I didn't get stuck in one of these places when it went down, after all the warnings on this forum. Did you?...think?
The "whole russian shpeel" actually originated from a Tuco trader who had been in contact with your man Doug Frederick. http://www.elitetrader.com/vb/showthread.php?s=&postid=1821977#post1821977
I know exactly where it came from... what I think is FUNNY, is you guys putting some negative spin on it and using that as proof of fraud, when all throughout this thread there have been links to the court papers where the acct docs are viewable. Nowhere on those docs will you see anything resembling "Receivables: 1M - Untrustworthy Russians". I'll say it again, register your pacer account, read the docs and come back and have a serious discussion... otherwise, just like you said, you're easy targets, because your arguments are based on absolutely nothing.
It seems to me it would pay for Tuco traders who have monies frozen by the reciever to complain to the judge who appointed the reciever . and here is a link to the contact information http://pview.findlaw.com/view/2144241_1?noconfirm=0
great link.... now there's a really easy way to be proactive about this: http://www.elitetrader.com/vb/showthread.php?s=&postid=1894410#post1894410