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PFGBest Accounts Frozen (PFG scandal big thread)
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PFGBest Accounts Frozen (PFG scandal big thread)

  #811 (permalink)
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surprised to see a few other pages of the website are still online:

PFGBEST | About
PFGBEST | Tools

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  #812 (permalink)
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siam, west coast andaman sea
 
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wanna tell us who those kind entities are, pls?

wanna share with us who those kind entities are, pls?

so we could rejoice with you and others, pls?

thx


comintel View Post
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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  #813 (permalink)
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nakachalet View Post
wanna share with us who those kind entities are, pls?

so we could rejoice with you and others, pls?

thx

Let's save any rejoicing until we get 100% (plus) recovery of our claims.

As I said, I advise NOT selling your claim. Instead, hang on to see what happens in the class action law suits. The claims buying companies are active in those suits on our side, along with other claims holders.

But if you want to find the firms buying claims, look at pfgchapter7.com under Court Docket, and look at the docket items titled "Transfer of Claim." You will see that many many people are selling their claims.

By the way, the next (and maybe last large) distribution from the Trustee is expected this summer, and will be about an additional 20% - 25% according to estimates, bringing the total recovery to about 50% - 55% so far (in view of the prior 30% distribution).

After that it will be mainly up to the class action law suits to try to get money from additional defendants (such as Auditors and Banks).


Last edited by comintel; May 3rd, 2013 at 05:51 AM.
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  #814 (permalink)
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hi comintel....

thought you have some specific info for us that you could share with, to ascertain your good news.

anyway, it is ok, if you are not ready to show the specificities.

thx any way.




comintel View Post
Let's save any rejoicing until we get 100% (plus) recovery of our claims.

As I said, I advise NOT selling your claim. Instead, hang on to see what happens in the class action law suits. The claims buying companies are active in those suits on our side, along with other claims holders.

But if you want to find the firms buying claims, look at pfgchapter7.com under Court Docket, and look at the docket items titled "Transfer of Claim." You will see that many many people are selling their claims.

By the way, the next (and maybe last large) distribution from the Trustee is expected this summer, and will be about an additional 20% - 25% according to estimates, bringing the total recovery to about 50% - 55% so far (in view of the prior 30% distribution).

After that it will be mainly up to the class action law suits to try to get money from additional defendants (such as Auditors and Banks).


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  #815 (permalink)
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nakachalet View Post
thought you have some specific info for us that you could share with, to ascertain your good news.

anyway, it is ok, if you are not ready to show the specificities.

thx any way.

The numbers are clear from various filings by the Trustee on the pfgchapter7.com site in the Court Docket. I read all the filings. That is why the claim buying companies are offering another 20% (on top of the prior 30%) - because it is clear that there will be over 50% total recovery.

Some of the Trustee's summaries and motions and reports have spreadsheets showing cash available for distribution in various classes.

There would have been a bit more money still available except that they have decided to give the forex customers close to 100% on their claims on the reasoning that the money was stolen from the commodity accounts,not from the forex accounts. That leaves a bit less for commodity futures accounts.

One good site with articles on this is Attain Capital Managed Futures Blog .

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  #816 (permalink)
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And here is potentially good news in the area of claiming against the banks:

Peregrine Financial may have "viable" claims vs banks -trustee

Peregrine Financial may have viable claims vs banks -trustee | Reuters

For all of the details, see:

http://www.omnimgt.com/cmsvol/cmsdocs/pub_46535/398429_810.pdf

Oh and to correct one thing I may have said wrong, the class that already stands to recover close to 100% is holders of accounts designated to trade futures on foreign exchanges (not forex traders, who may recover nothing).


Last edited by comintel; May 11th, 2013 at 05:43 AM.
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  #817 (permalink)
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I'm not holding my breath.

CFTC Sues US Bank for Unlawful Use of #PFGBest?s Seg Funds

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  #818 (permalink)
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it stands a good chance, per complaints



i thought the complaints are valid and straight to the point, reasonable and compelling....

now let's see what the presiding majesty will say....

thx for the post, olobay

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  #819 (permalink)
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FYI

Peregrine receiver: Wasendorf did spend most of the money - chicagotribune.com

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  #820 (permalink)
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PFGBest the "movie".


Attain Capital blog on who would star amongst the culprits in a "PFGBest the movie".

PFGBest- The Movie | Attain Capital Managed Futures Blog

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