GUILTY Case# 2014-095 | BlyPIPs vs PellucidFX.com

[BlyPIPs]

AsstMod and Pharoah? Hello? This doesn't add up. I don't like calling your integrity into question, but as I asked before and challenged your own apparent incongruence and you have not responded it leaves me hoping you're just too busy. Please could you take a minute to allay my fears here?
You'd said you had it on reasonably good authority that Damon was forced out of the company, this more than implies you have either a contact in the company or someone who does. You then state that you are only communicating with their support (who we all know are an outsourced team as you will see from Damon's own mouth in my attached evidence) and that you are getting no response - which is fine but not congruent with the previous display of having a contact who knows....
any clarity on this would be greatly appreciated. I am still massively out of pocket as are a shedload of others now.

 

[AsstModerator]

Sometimes, the source of information must remain confidential. If I get confidential information and then post all the details of how I got it and who gave it to me, that will be the last time anyone shares any confidential information with the FPA. If Pharaoh shares his sources, the same thing will happen.

So, the balance is that your fears can be allayed at the cost of wrecking dozens of future investigations. I believe that Damon departe PellucidFX between the time you complained to the FPA and the issue with all withdrawals being stopped began. Since I will can not share the source at this time, I can't fault you if you chose to not believe this.

You aren't the only one out of pocket. The amount was much less than yours, but one FPA associate also is waiting to hear back from the liquidators.

The only additional comment I have at the moment is that I believe there is a good chance I will be able to share more information in a few months.

 

[BlyPIPs]

That's great thanks ASstMod - I wasn't at any point asking you to divulge your contacts or breach confidentiality; as one of many who are feeling the sting of this in no small measure I was simply looking for some clarity from the only semblance of support we have.

It's appreciated thank you.

 

[Pharaoh]

I wish I could say more too, but am also tied up under a promise of confidentiality.

At least one of my close friends has some money trapped in a PellucidFx account. If I can dig anything up independently, I'll happily share it. I want the names of each and every person who was involved in wrecking what looked like a promising company, if for no other reason than to keep an eye on any future forex-related businesses they get involved in.

 

[BlyPIPs]

It looks like the name you want is pretty evident already isn't it? Damon Hunt; it's very clear from his responses that the way he had his trading servers setup meant that whatever was happening in the market he was taking the other side of trades which made no sense, where any ordinary broker would just reject the order! The upshot being that he's strung a load of investors along and then subsequently, apparently, been kicked out of his own gig.
What else is there to know?

 

[forexstarter]

Is it possible to post the name and contact information of the liquidator?

 

[BlyPIPs]

Pharoah, re-reading all this I'm struggling to understand your position. You guys have always seemed to run a tight ship here and it's always been a real help to punters like me. In this particular case it is really clear that Damon Hunt screwed us over, if not deliberately (we can't know due to his choice to remain silent) then by his sheer ineptitude with the technical setup (now I've seen this elsewhere too - a broker promising STP and actually making the market themselves on a load of trades then finding they can't afford it and trying any tricks to get out of paying).

Your last comment seems to imply that you think someone did this TO Pellucid?! Could you please clarify as I really don't understand whether, in this case which has been voted unanimously Guilty, the main moderator of Forex Peace Army is actually siding with the broker here??

Thanks

 

[Pharaoh]

I'll share what little else I can at this point.

Some companies have a "founder" who serves as "the face of the company". In a few cases, this person really is 100% completely in charge and cannot possibly be over-ridden or displaced.

In many other cases, there are others in stockholder and director positions. Individually, their power is limited, but a group of them can over-ride anything from above. If everyone is happy with the way things are gong, the "face of the company" can still set policy by decree. On the other hand, if enough of the lower ranked people form a coalition, they can effectively control a company. This can be done quietly, from behind the scenes, while keeping the founder as a figurehead. Or, if things get ugly, the situation can escalate and the person everyone views as the man in charge can find himself locked outside the company's gates.

If you don't believe this is possible, check the history of Steve Jobs and Apple, Inc. Focus on 1985. Yes, that's right. Steve Jobs ended up out on the street and didn't come back until 1996.


Maybe my source is wrong. Maybe Damon is the sole proprietor and no one could have possibly taken over. At this stage, the best approach I can see is to try to find out more about who is in charge of the liquidation of PellucidFx as well as what jurisdiction it is taking place in. At that point, it may be possible for creditors to demand a full list of the directors and shareholders. That would end all questions about who was in charge when things failed.

 

[Dottie]

I got burned by investing in PellucidFX too - I lost the money that I invested in them too - without any replies from their management - and the same thiing happened in the end with all their clients, they went off the air!

 

[robertfx]

also got scammed out of 3780 usd and got the same email about the 'liquidators'. liquidators my ass! that money is gone and ain't never coming back. the worst part about all of this is the 'recommendation' by or in association with sive & FPA. i opened an account based on that and really trusted that i was in good hands. i hope there is some kind of resolution in the coming months but i ain't holding my breath!

I got burned by investing in PellucidFX too - I lost the money that I invested in them too - without any replies from their management - and the same thiing happened in the end with all their clients, they went off the air!