Problem MexBank - MexGroup

[FXR]

This is a managed account that I opened about a year ago, so did my mother. Things were going great and then at the beginning of Dec we were told that our accounts had been practically wiped out. We had a 20% stop loss on the accounts (so we thought), but they clain that some bank raised the margin calls and took their reserves (this makes no sense to me). They claim to be the victim and are trying to reslove it through the courts in Switzerland and Mexico. Our accounts went from 17,000 to under $30 and the same with a smaller account. Has anyone else experience this? or have any insight into what is going on?:unhappy:

 

[carpenter]

Mexbank

I And Several Others Are In The Same Situation. Did You Invest On Your On ? I Am Also In Houston And Was Referred To Mexbank. Carpenter/houston

 

[FXR]

MexBank

I was also referred by someone. I was under the inpression you had to be referred and could not go direct. Anyway, it sucks for all of us. Did you get the e-mail today? What do you think our chances are of getting any money back? I am also in the Houston area.

 

[carpenter]

mexbank

Received the email. And it sounds like we are all in the same boat.Just a wait and see.I am surprised there has'nt been more posts. Carpenter/Houston

 

[FXR]

MexBank

Me too. Maybe people are buying the "keep it from the media" bit. I think it's a stall tactic. I do think we will get something back (about 50%), the rest will be stolen. We'll never know who. I hope I'm wrong.

 

[Alarm]

Mexbank

There are a lot of us in California that are involved with Mexbank as well, that are waiting to hear if we'll get our money back. We've also been almost completely wiped out.

I think the reason we haven't heard much about it, is probably because this thing really isn't as back as what we've been told. I've been told that Mexbank had up to 100 billion dollars with tons of people involved world wide. The silence about it leads me to believe that it really isn't that big after all.

What I'd really like to know is who got you involved. The person that got us involved is Don Winkler. He has been the front man for this thing and he's the one that feeds us information about what's going on.

 

[FXR]

Mex Bank

My Rep is out of El Paso and I also beleive that we are not being told the truth. Everything points out to a stalling tactic. My best hope is that the next email reads that we have been given a counter offer. 50% of our balance, sign here and there gone. I have heard the name Don, is he an actual employee of MexBank? Do you still have contact with him? THe problem I am having is that I cannot get a hold of any representative of the company. Does this Don feel we are getting money back?

 

[Alarm]

Mexbank

Which company do you mean? The one in El Paso or an employee at Mexbank? Don I believe is just a representative but he says he goes down to Mexico and meets with the Executives on a regular basis. Any information that we've ever gotten has been through Don. I've never had any contact, other then email, with anyone from Mexbank itself.

Don seems to think that we'll get the money, but this may just be wishful thinking. None of this is adding up in my mind. The Madoff scandel is every where on the news, everyday since it came out. Mexbank is supposedly twice the size of the Madoff fund and you can't find any information anywhere.

It's just crazy.

 

[FXR]

Mex Bank

At least you have a contact (representative). Can you still get ahold of Don? Or is he not responding. Is he the one that told you Mexbank had 100B in accounts? You right it does not look good. No one to talk to and can't find anyone. If we don't get a settlement by end of month. I think it's over.

My main concern is the culprit is actually MexBank themselves.

 

[carpenter]

mexbank

Anything new on Mexbank? Did'nt know if you got in touch with the facilitator DON.Did send a email to Polyreg. They were shut down for the holidays. When I got their email they said VAMAG was registered with them but not MEXBANK. Carpenter