Tuco update

Discussion in 'Prop Firms' started by drukes1234, Jul 10, 2008.

  1. Based on the email just sent it seems like July 25th will be the day that the 40% interim distribution occurs. I believe we traders will get at least 80%+ money back at the end of this. There is a light at the end fo the tunnel!!!!
  2. go read the summons dated for july 18th. it sums up the case pretty much. tuco near the end was doing 2 billion shares a month as they brought on a few groups that they made no overides on to combine there shares to get a better rate. tuco was grossing a min of $800k-$1 mil a month in overides i calculated. my question is since they made so much money why can't they make make the pot whole again?according to the summons kestler reopened another llc called ocean view.
  3. I think they can and may.. at very least I think 80%+ which is better than the 0% I thought a few months ago.
  4. Another LLC to do what? Not the same old tricks????
  5. 80% is the bare minimum. It could be as high as 90-95%. I was told 85% by one of the "head" sources. 90% would be super. It is terrible that us traders lose 1 penney at all for not doing one thing wrong but what can you do....
  6. I agree it's terrible that we are going to lose a single penny but at this point 85% would be phenomenal.
  7. Anyone have any info on ocenview or who to contact regarding trading...Thanks
  8. cstfx


    80-90%? You guys are lucky. It sucks that any trader is going to lose any money not from trading and I hope in time you guys are made whole again. But what you are getting is far better than the >40% we got when Refco collapsed.

    Still, I hope you guys get this settled soon! And you can finally get out from under this cloud.
  9. You need to add in opportunity cost as this market the last few months has been rocking and that money was idle not working for all those traders. That was very costly.
  10. +10.

    Good post.
    #10     Jul 11, 2008