Forex Peace Army Members Forums>

[forxsteve]

Let these guys try to fix this problem before you guys cry foul. Read your emails that mexbank sent you and be patient. There are families, like mine, that have hundreds of thousands on the line. Please be patient, mexbank will fix this. There lawyer is doing all he can, the legal process can take time.

[PROCHORUS]

Just two points in response to comments:
1. East Coast: Mexbank was not the vicitm, its investors were the victim.
2. forxsteve: you referenced the lawyer doing all he can - i hope so...BUT...how do we know? We have been asked to implicitly trust everything.

[forxsteve]

Dont take my word for it. Get a plane ticket, fly to Mexico City and see for yourself. Or, read up on your Swiss Banking laws. If it is a scam then you will have plenty of time to cry out. Keep in mind that its only been about a month. Minus the two weeks in December for the holidays. And read your emails. Please be patient, I know its not easy Prochorus.

[Alarm]

Brian Kelly,

I'm just curious how you're able to invest with a guy who you know has been investigated by the SEC on numerous occasions and had been involved with Ponzi Scheme's in the past?

When I first heard the talk of Mexbank from a family member, I remember Gary Mcduff's name coming up a lot. So, with no idea what I would find, I did a google search on Gary Mcduff and Mexbank. Needless to say, I was horrified to find out he had numerous investigations against him for his involvement with Ponzi Scheme's and even a felony conviction. I asked Don about this and if you've ever talked to Don you'll know he has a smooth explanation for just about everything. He told me that Mcduff didn't have any current affiliation with Mexbank other then being an investor, but that Mcduff helped setup the banking relationships between all the players in the beginning.

I should've trusted my gut but the thought of big returns and Don's slick words convinced me to put my money in Mexbank.

We can only wait and see what will happen now. As for me, I'm not that optimistic that we'll see the money again. Hopefully, I'm wrong! But I have 2 predictions as to what I think will happen.

1) We'll just never have the money returned to us for whatever legal reason they decide to come up with. Or worse...

2) They'll return a good chunk of the money (if not all) to our investment accounts but for some reason we won't be able to pull money out for at least a year while they "try to recoup the losses" or some other excuse like that. This would be the smarter option as it would buy them a ton of time and get everyone off their backs.

I truly hope that I'm wrong!

[brian kelly]

Recruit I did not know he was involved till after I invested. A friend talked to him when we found out. He also smooth talked his way out of it. The bad thing is we cannot verify if this whole story is true until, or if it actually goes to court. I want to believe this story too. But its hard.

[forxsteve]

Does anyone have any new info?

[carpenter]

Have not heard much. But it is going to be interesting to see the names that Harry Markopolos turns in tomorrow. He said in statement he had another Ponzi scheme and about dozen Swiss and European feeder funds to Madoff. gene

[Bob Colwell]

Hello,
I am also one of the investors in Mexbank and have been trying to follow
these threads to see if anyone has any information we are not hearing in
the now weekly e-mails from their attorneys. Perhaps a few of us should
take a trip to Mexico City and find out if we can get updated factually that
way ? I am from the East Coast and was introduced to Mexbank by Bob Reese
from an ad in the Oxford Club members newsletter. Please respond.
Bob

[sanantoniotxlaw]

Those who took a trip to Mexico City would be very disappointed. MexBank // MBFX Group is Mexican version of the Houston Stanford Scheme, only pitifully smaller. It currently has give-and-take 400 investor accounts - $100K a piece. Its headquarters is merely an empty sitting lounge with a fax machine on the 39th floor of the World Trade Center in Mexico City. There were no names, no telephone numbers whatsoever listed anywhere in the building directory of MexBank; not even on its own web site (MexGroup - Financial Services). The best thing to do is to get together and file official complaints to the SEC, FBI and IRS Criminal Investigation Unit in Washington DC. Contact me if you want further leads of the scam. Tell me your story in detail and I tell you who is responsible.

[Bob Colwell]

sanantoniotxlaw,
I am the person who posted just ahead of you with the suggestion of taking the
trip and would be interested in further leads of this. My e-mail is pbcolwell@gmail.com