Tuco Receiver's Site Down

Discussion in 'Prop Firms' started by reg, Feb 26, 2009.

  1. reg


    The website for Tuco's receiver, Thomas Lennon, is currently down and no one is answering the phone in his office.
    Does anyone know what's going on with this guy and the remaining distribution for ex-Tuco members?
  2. cstfx


    Jeez, it's been a year now and you guys haven't got ALL your money yet?
  3. reg


    I was able to get a hold of them by dialing an alternate number.
    They just switched servers and their site should be back up later today.
    FWIW, final distribution is not going to happen end of this quarter as was previously made known to members. A more definite date of distribution should be expected after March 20th, according to Laura.
  4. reg


    Nope - and I fully deserve this aggravation for signing up with an unregistered firm against my better judgement.
  5. Ditto, was told sometime in the 2nd qtr. GLB right now is the problem, there fighting this tooth and nail and prepared to go to appeals court I was told.

    They could distribute whats there now but supposedly its too costly to do 2 more distributions.

    Easy to say when there money isnt sitting there.
  6. Daal


    How can GLB deny a judge decision
  7. not a lawer but there fighting it, legally they can. got to love appeals. in the meantime were stuck with money in limbo.
  8. any idea how much we will lose?
  9. i was told we will get 20-35% more. received 40% so doing the math, 60-75% we will get back. Nice heh?
  10. Daal


    Now why is that. Last I time saw the expenditures from the receiver is amounted to $300k. The company had $10m in funds
    #10     Feb 26, 2009