Another email from Eclipse COO
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Dear valued client,
I hope this email finds you well.
I do apologize for the delay in my response, I am aware that this devastating situation came out of the blue and shocked everyone so you would expect immediate answers. However, as you can understand, this is something that took our whole organization off-guard and we are putting enormous efforts into looking for ways to resolve the mess that Top-Binary-Signals.com (TBS) have put us all in. Over the past few weeks we have been working closely with the senior management of TBS in order to find the best possible solution for our clients to come out on top with profits in hand or at the very least with their initial investment. I will go into that after I comment on the comments/questions/concerns which have been raised from Apr 28 to May 19, 2016, namely:
The TBS Managed Account Service (MAS) Agreement, where some of the sections mention:
- fixed trading size,
- initial Agreement Stop Level (ASL)
- Investment protection
Please bear in mind that the MAS agreement which was authorized by Eclipse Finance (as TBS is one of our leading money managers which have flawless reputation of achieving great trading results) does not hold us responsible for your money manager’s actions. As was stated in my last email you have authorized TBS to act on your behalf and trade your account in any way they see fit taking into account your best interests. Eclipse Finance (EF) has no legal right to control your money manager with regards to the trade size (which is unlimited at EF for accounts with $15k+ investments) or to stop them from executing trades on your behalf until you send us the signed Revocation of MAS LPOA form. All this information can be found in our terms and conditions (T&C) which you have agreed to and signed prior to opening and funding your Eclipse Finance account.
With regards to the investment protection and insurance, yes it’s true that we have a promotion in which we give a 100% insurance and money back guarantee that during the 5-day MAS trial your $1000 investment will be fully protected and that you will make money; otherwise you will be fully refunded with an extra compensation of $350. This is done because in 99% of the cases clients whose accounts are managed by TBS do make money during the 5-day trial and ever after. Hence we are fully confident in TBS’s abilities and are in a position to offer this promotion.
Next, I would like to explain about International Offshore Investment Regulatory Commission ‘s (IOIRC) Investor Compensation Fund in which any one client is eligible for maximum payable compensation of up to $500,000 USD. Please bear in mind that since the first days of this incident we have been in contact with IOIRC who have been explaining to us that they are not in a position assist any of our clients in this particular case. Their reasoning behind this was put in the 1st paragraph of the Investors’ Compensation Fund (
http://ioirc.com/investor-compensation-fund):
“The purpose of the Investor Compensation Fund (“ICF”) is to pay compensation to retail investors in those cases in which the investment firm concerned is unable to pay over clients’ assets due to its financial circumstances, and there is no realistic prospect of these circumstances improving in the near future.”
The main issue here is that there are no clients’ assets that are held by Eclipse Finance as you have lost all your investment while trading the markets; and for this reason, IOIRC are not able to compensate you for losing your money. I am sure that you have heard that around 95% of people trading the market lose their investments; and do you suppose that IOIRC would be able to refund all of them? It sure does not work this way, IOIRC are protecting clients against brokers who scam clients by not returning their initially invested funds or profits which are sitting on their trading accounts. With regards to Eclipse Finance, there is not a single case which has ever been recorded by anyone including IOIRC or our auditors from IBOFAudit where we were unable to refund our client’s investment/assets/profits or that we have ever attempted to scam any client or violate our T&C.
Coming back to the compensation plan that we have been able to coordinate with TBS, as outlined by Mr. Otto Ebersbach on 17th May 2016 here are the four aspects:
1. TBS would be able to fund each affected account with their own funds amounting up to $25,000 or approximately up to 33% of each of your initial investments. Since accounts affected range from +15k to 100k+ we would do our best to be most fair to our valued investors in order to recoup them loses based on the size of their initial investment.
2. Eclipse Finance would provide a sufficient bonus in order to recoup the loses as fast as that is possible via a $100k Premium MAS package. Hence, we are willing to put up enough bonus funds for all of your accounts to achieve $100k Premium MAS status no matter what your initial investment was.
3. TBS would be able to manage your MAS accounts with $1,500 trade size, meaning that in about half a year your accounts would be eligible for full withdrawal of all balance and profit accumulated. That sounds quite reasonable if we take an average month with 250 trades issued by TBS, doing $1500 per trade would give us 250x1500= 375,000 volume per month. With a bonus of 75,000 you would need to hit a turnover of 2,625,000, which is achievable in exactly 7 months.
4. Seeing that 7 months is not a very short time, we would be able to provide a compensation for such inconvenience by offer interest of 7.5% annual on the deposit funded by TBS. This will be funds which you may withdraw on a monthly basis via a personal debit card that will be delivered to your home/office address via express courier.
5. A special agreement outlining all of this will be drafted and it will be signed by all parties.
6. TBS is waiving the rights for the profit sharing for the time being until all accounts have their initially invested funds recovered via trading on MAS and withdrawn.
7. The compensation plan can be implemented as soon as on 1st June 2016 by and between those clients who choose to remove or reverse of any derogatory remarks/comments/requests about Eclipse Finance.
Henceforth, if you still have some slight faith in us, do give us a chance to recoup your investment as well as profits by responding to this email and cooperating with us to get this compensation plan executed.
Looking forward to your kind consideration.
Sincerely,
Daniel Wright
