Problem BroCo account arrested by District judge

[released]

Consider my personal experience, my answer is that broco is honoring their compromises until now.

Yeah, right you are forexjopa. All compromises are honored.
I have a question to you thou, what are we waiting for exactly? Anyone with at least a little bit of common sense is out of there already and trading in MBT, FXPro, FXDD, FXCM, Alpari etc. They have no waiting over there, no Federal case and none expected. Their money is safe so far. They sleep well.
Meanwhile you and Lenar and Natalie are continuing this lively discussion practically among yourselves-- Broco employees.

 

[forexjosa]

Nope, you are wrong, my nick is not forexjopa.
Consider your question, it happens that I already have live accounts with all the brokers you mentioned, and actually I am trading live with two of them now. But I used trade with broco too, so I am waiting a final judgement about this case, or at least make my decision on this.

One thing I agree with you, releajed, and it is that Broco has not a proper regulation (strong one) and that is an issue indeed, special if you want to increase your money with them, trust and safe funds is very important.
Though you are wrong again when talking about mauritania, a mauritius regulation could be better than none, but, non the less is quite weak... and special now with those suspicious on them.

So I only see one route to broco, and that is first SEC retire those allegations, and second gain a EU regulation, special one with seggregation funds.

So it will be a high target for broco, but that is the only way to be around a couple of years... IMHO.

On other hand, I just keep my normal trading activity while I am looking how this will end. If broco succeed, I will be happy, cause I like their services and offers. If not, I will carry one my tradings on other brokers. Is simple as that.

Have a nice trading week fellow releajed.

 

[Natalie18]

Update

Hearings in the court will take place on April, 30.

Our lawyers hope that the case might be resolved in a pre-trial mode though.

The main version for now for SEC is that fraudulent actions on accounts were taken by Russian citizens as well as by group of people from the USA having access to accounts.

Untiil the investigation is over, funds of Broco with Genesis will be transferred to a special escrow account with the guaranteed intended use.

 

[Natalie18]

Official request to forum admins

Dear admins,

I noticed at last that thread is named as "Broco accounts arrested by District judge" which is not true actually - cause only one account of us - with the USA broker - has been frozem whereas all the rest accounts work in a normal mode.

I ask you to change accordingly the name of the thread.

 

[ernest8fingers]

lol - give it time - the thread title may yet prove 'accurate'?

 

[forexjosa]

Concerning the bad marketing, there is not much difference between "broco account" or "broco accounts"...
anyway, there is only one way to clean this, and that is broco succeed in get those accusations be retired from SEC.
Good luck!

 

[released]

Hearings in the court will take place on April, 30.

Our lawyers hope that the case might be resolved in a pre-trial mode though.

The main version for now for SEC is that fraudulent actions on accounts were taken by Russian citizens as well as by group of people from the USA having access to accounts.

Untiil the investigation is over, funds of Broco with Genesis will be transferred to a special escrow account with the guaranteed intended use.

So, now it all should be over.
Did SEC and Federal District Court change "the main version"? How is "the investigation" going? What is the "intended use" for the funds?

 

[released]

Request to change the thread's title back to original

Dear admins,

I noticed at last that thread is named as "Broco accounts arrested by District judge" which is not true actually - cause only one account of us - with the USA broker - has been frozem whereas all the rest accounts work in a normal mode.

I ask you to change accordingly the name of the thread.

Here is a quote from the Order issued by the Federal Court:
"Order the freezing of the Defendants assets and direct that all financial or
depository institutions comply with the Court's Order. Furthermore, order that the Defendants immediately repatriate any funds held at any bank or other financial institution not subject to the jurisdiction of the Court, and that they direct the deposit of such funds into the registry of the Court, pending conclusion of this matter." http://www.sec.gov/litigation/complaints/2010/comp21452.pdf, Page 10, II
The fact that the defendants failed to comply with the Courts order doesn't change the nature of it. All BroCo's assets have been frozen by the Court, all of the accounts in any country in any bank.
Dear Admins, please change the title back to what it was.

 

[Natalie18]

Respond

Hello

I inform that hearings had been postponed again and will take place on 15 - 17 of May.

Dear released, I cannot open your PDF , the link does not work

 

[AsstModerator]

This link works for me.

http://www.sec.gov/litigation/complaints/2010/comp21452.pdf

If that doesn't work. go here...

http://www.sec.gov/search/search.htm

and search for Broco.