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PFGBest Accounts Frozen (PFG scandal big thread)


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PFGBest Accounts Frozen (PFG scandal big thread)

  #661 (permalink)
 flyg 
Toledo, OH
 
Experience: Advanced
Platform: TS, NinjaTrader, TOS, IB
Broker: TS,TD Ameri
Trading: ES
Posts: 16 since Oct 2011
Thanks Given: 6
Thanks Received: 3

My point exactly..why would where you traded make a difference?

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  #662 (permalink)
 olobay 
Montreal
 
Experience: Intermediate
Platform: MultiCharts
Broker: DeepDiscountTrading.com
Trading: CL
Posts: 364 since Jul 2011

Peregrine trustee seeks to distribute $123 million

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  #663 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, various
Broker: various, TDA
Trading: NQ,ES
Posts: 2,124 since Jul 2011
Thanks Given: 2,396
Thanks Received: 1,748


"Wasendorf Assets Going on the Block"
https://www.wsj.com/articles/SB10000872396390443864204577623612657001068

Wasendorf's guns to be sold.
https://www.businessweek.com:443/news/2012-08-28/wasendorf-receiver-seeks-to-set-claims-deadline-sell-guns

https://www.wsj.com/articles/SB10000872396390443864204577623612657001068

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  #664 (permalink)
 
nakachalet's Avatar
 nakachalet 
siam, west coast andaman sea
 
Experience: Master
Platform: ninja
Trading: gc, cl, tf, 6e
Posts: 512 since Aug 2011

hi lamenting former pfg clients and dear traders:

if interested you can read the whole doc per attached. it is only 18 pages long.... L O L

however, here is what was summarily stated: according to an email from pfg trustee, it stated that:

181,000,000 uad is available for distribution, however,

only 123,000,000 usd will be actually distributed.

the 58,000,000 usd will be reserved for unforeseen, which could be inclusive of service fees and such incidental, i do not dare say.

any traders in their right mind would immediately conjure up such statement as....

by george.... 58 millions out of 181 millions.... that is just about a little under 30% of the total funds, is it not?

perhaps, i got.... as former prez clinton said last night during dem national convention.... my math is wrong altogether....

well, anyway.... accordingly.... funds will be in our new trading acct or otherwise within what? 1 or 2 months....? BUT ONLY 30% for all the brave and free, and 40% for others, per document....




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  #665 (permalink)
 
nakachalet's Avatar
 nakachalet 
siam, west coast andaman sea
 
Experience: Master
Platform: ninja
Trading: gc, cl, tf, 6e
Posts: 512 since Aug 2011

this is the working link which contains the whole 18 pages of pfg trustee proposal to her honor....

enjoy everyone....

our money is practically on the way.... end of this month, perhaps....

https://www.omnimgt.com/CMSVol/CMSDocs/pub_46535/333616_147.pdf
----------------------------------------------------------------------

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  #666 (permalink)
 
nakachalet's Avatar
 nakachalet 
siam, west coast andaman sea
 
Experience: Master
Platform: ninja
Trading: gc, cl, tf, 6e
Posts: 512 since Aug 2011

alright, this linkage might work and it contains explanations as well.

if it fails to work, my most sincere apology to everyone. and i shall try to make it works later, promise.

the attached doc does not come from pfg trustee, K?

PFGBest Update: Interpreting the Distribution Motion | Attain Capital Managed Futures Blog

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  #667 (permalink)
 
nakachalet's Avatar
 nakachalet 
siam, west coast andaman sea
 
Experience: Master
Platform: ninja
Trading: gc, cl, tf, 6e
Posts: 512 since Aug 2011

this is the working link which contains the whole 18 pages of pfg trustee proposal to her honor....

enjoy everyone....

our money is practically on the way.... end of this month, perhaps....

https://www.omnimgt.com/CMSVol/CMSDocs/pub_46535/333616_147.pdf

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  #668 (permalink)
 olobay 
Montreal
 
Experience: Intermediate
Platform: MultiCharts
Broker: DeepDiscountTrading.com
Trading: CL
Posts: 364 since Jul 2011

Peregrine Financial assets far less than estimated

Doesn't look good for us.

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  #669 (permalink)
 ron99 
Cleveland, OH
 
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785

Here's why they are working to validate account balances.

Quoting 
The CFTC said it had consulted with the trustee, Ira Bodenstein, about methods for performing validity tests of commodity customer accounts, to ensure money didn’t go to any claimant who may have been involved in the theft of customer money.
...
“The CFTC believes that it would be prudent for the trustee to complete validity testing -- and, in parallel, work on the implementation of the mechanics of the distribution -- before this court authorizes the distribution,” the commission told the judge handling the liquidation.

The CFTC said its “preliminary” investigation uncovered more than $45 million in fictitious bookkeeping entries and unusual activity or balances in customer accounts.

CFTC faults Peregrine trustee $123 million distribution plan

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  #670 (permalink)
 
nakachalet's Avatar
 nakachalet 
siam, west coast andaman sea
 
Experience: Master
Platform: ninja
Trading: gc, cl, tf, 6e
Posts: 512 since Aug 2011


here is the latest linkage to the news on pfg trustee supposed proposal to pay off verified customers' acct.

hope it works. if not let me know, i'll try to fix it right away. pm or email, would be best. as my activity is somewhat curtailed here at bmt.

hope many of us would see the green soon, regardless. cheers everyone.

PFGBest Update: CFTC asks Trustee to Verify | Attain Capital Managed Futures Blog

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