FYI... I talked to customer service at Vision today and asked about the funds I requested. He told me according to their records the check was sent on December 27 but since I haven't received it they are going to stop payment on that check and send me another one.
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The bankruptcy judge for the PFG Best case is expected to decide on the complaint filed by the forex/metals account holders at PFG. AP has an article out detailing the conflict between futures and forex customers:
Retail forex traders still have an opportunity to tell Washington that this kind of disparate treatment of retail forex customers needs to end. The CFTC comment period on additional customer reforms remains open:
I think it would be useful to first try to help all former PFG customers by suing to recover funds from other deep-pocketed potential defendants who may have been negligent by ignoring signs of problems in PFG's accounts (or even helping PFG cover up):
Let's ask for a thorough investigation of potential liability of these parties. I am not saying that all of them were negligent, but just let's look into it closely and sue them if grounds can be found.
This investigation should be done by
The PFG Trustee
The Justice Dept.
If all of these fail to investigate adequately, as a last resort it will be done in the class-action lawsuit, but it should not have to be left to private parties.
Ouch. First time I had a little sympathy. Just my opinions. I don't think justice was fully equally served. Imo, there were many collaborators. The "homemade" accountant, Wasendorf Jr., Mrs. , and all the executive staff, the CFO Brenda Cuypers who was in charge of the segregated accounting, all must have known about it and were probably complicit. Notice that up to now, the executive staff have either kept silent or denounced Wasendorf singularly. No help from them in helping the clients receive restitution and one reason I suspect is if one or a few spoke up, the depths of how they were all complicit would be quickly revealed. If they were all arraigned and sentenced it should have been split around more with Wasendorf Sr. maybe getting 15-20 years. He still was relatively small compared to Madoff and Corzine as nicest as can be said. Plus all the banking and financial execs who brought about the 2008 collapse all got away scottfree along with party bonuses from the TARP handouts. Anyways it looks like Sr. planned to assume the full blame sacrificing himself as the patriarch. Similar with Madoff and other similar cases. Everyone else probably complicit got away with their assets protected from clawbacks. Soon to come CNBC's 'American Greed' episode.
Last edited by Cloudy; February 2nd, 2013 at 11:00 AM.
I had to phis around a little but this how I did my taxes. Consult a pro if necessary.
If you have the Mark to Market designation then you fill out form 4797 part two.
Line 14 is: Net gain or loss from form 4684
Copy a form 4684 Casualties and THEFT!!!
fill out section B parts I and II.
Hope that helps.
If we recover more cash then use this form next year to report the gain.
Good luck and its better than filling out college credit crap written by morons.
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I am getting several offers for my PFG claim in the mail.
They are currently offering another 25% or so beyond the initial 30%.
These companies will be our best friends after they accumulate a large number of claims, because they will sue the banks and others involved on a class action basis and they will do so aggressively.
They would not be offering a total of 55% (less the 30% already distributed) if they thought that ultimately only 60% would be recovered.
So do not sell your claim.
If things go well when they pursue the class actions, we may eventually see a much higher recovery if the banks and auditors etc. settle. And everyone will get the benefit of the final recovery settlement if they hold out and do not sell their claim!
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