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Mexbank Resolution / Progress?

Discussion in 'Scam Alerts' started by destado, Mar 6, 2010.

  1. destado

    destado Recruit

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    Anyone seen progress toward prosecuting the fraudsters at Mexbank?


    <Ref Document>

    Dear Customers,

    Our Chairman Eduardo Trejo and Mexbank management have written a letter updating you with progress toward restoring your assets.

    Thank You,
    MBFX

    Note: This is an automated email, please do not respond to this email directly.

    Dear MBFX Customer,

    I am writing you this letter to provide you with an update on the progress we are making in our efforts to secure the return of all funds that our previous STP liquidity provider removed from our trading accounts by margin manipulation contrary to any agreement or consent on our part.
    As you may already know we have set up a helpdesk USA based phone line so you will not have to pay any international long distance fees to take your calls and messages so that the proper department can respond back to you. It has been brought to my attention that there have been sound quality problems, and that the lines are busy most of the time sending new calls to the mailbox which is quite often full. I have taken measures to correct these problems and trust that as soon as Monday it will operate as intended.
    Now I would like to address the most important matter at hand. Our legal team in Mexico and in Switzerland are working together to finalize the combining of evidence that they had to gather from outside sources to present to the defense attorneys of the STP liquidity provider we have taken legal action against. This evidence is substantial and fully supports our legal position.
    The primary complication in our legal team presenting this evidence to the defense attorneys is that the holiday season is upon us and the attorneys and the courts are closed or on vacation until the new year. However, our lawyers are making good use of this time to refine the presentation of our evidence for the earliest date possible in January.
    Our lead attorney in Mexico and Switzerland has asked me to provide you with enough information to understand what we are doing without compromising the impact of the evidence that is to be presented when they make the demand for repayment in their efforts to secure an out-of-court settlement for us all.
    On the first opportunity to secure an agreed fixed date in January our Swiss legal team will take our evidence and an independent expert witness, recognized by the court, who has reviewed the evidence and found it to be substantially in our favor, to the office of the defense lawyers and lay out our evidence and demand restitution. The primary objective is to present such overwhelming evidence that they will agree to settle out-of-court as opposed to trying to defend themselves (their client) in court against our convincing proof. They will be told that if they do not settle with us we will release the evidence to the media and make it a matter of public record by filing it into the court case. Until that meeting happens, and our demand for restitution is agreed to or rejected, both our Swiss and Mexican lawyers have instructed us not to release any further details.
    Depending on us obtaining an agreement to settle out-of-court or the rejection of our demand by their lawyers, our lawyers will make the decision whether or not to file the evidence into the record and request the earliest possible hearing. If they agree to settle our legal team tells us that it will be conditional upon us withdrawing our legal action and agreeing not to make the evidence public.
    In the event our demand for restitution is rejected, even when faced with our proof of harm, our lawyers will immediately file the evidence into the record and ask the numerous other institutions that suffered the same method of manipulated losses to join with us in our legal action. This added pressure may be enough to force them to settle before the matter develops into a media covered trial.
    Presently there is nothing we can do to provide you with any details until after the meeting described takes place and we know the results of that meeting. We are trusting that the evidence alone will be all that is required to obtain a fast resolution.
    I greatly appreciate the kind emails of support many of you have sent in expressing your support and even offering the assistance of your legal counsel.
    I anticipate being able to provide you with positive results from the meeting between the opposing lawyers and ours in early January. At that time we will know if we will need any information or assistance from you. Our lawyer will contact you directly and provide you with information from a legal point of view of anything you may need to do to assist him. Like you we want to put this matter behind us as soon as possible with a positive ending for all of our customers who were affected.
    I want to personally thank you for your support and wish you the very best this year.

    Kindest regards,

    Eduardo Trejo
    Mexbank Chairman

    Gary McDuff
    Mexbank FOREX Funds Director

    Don Winkler
    Mexbank New Customer Accounts Manager

    Bill Michael
    Lancaster Gold Value Asset Manager
     
  2. ironwine

    ironwine Recruit

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    How recent is this response from Mexbank? Also, does anyone know of a process to file with any agencies (AG, BBB, CFTC)? I no longer receive any updates. I lost only $3K as a neighbor/investor recommended I try it out with a small amount. Fortunately I didn't throw any more $$ at it. Again with 4% per month returns, it should have registered it was too good to be true. Thanks!
     

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