I too must commend Igor on his good advice.

If Aleccoh is honest and is really trying to get his clients' money back to them, then he should not mind in the slightest because he is following a similar path.

Hi, to all of you wanting to get the authorities involved please take the time to read the following link. Be certain to read the user comments below. I had HUGE problems with the company they are talking about; for a while I was in a constant battle with them over everything including withdrawals, IB fees, trades, etc, etc, ETC. One of the WORST brokers I have ever seen although in truth they had some truly wonderful people working there who tried to help. I was even "accidentally" sworn at in an email. I tried everything I could to resolve these problems personally, and with the help of a dear friend, managed to get some of what I felt was actually owed me before they were shut down. This isn't meant as advice of any sort, in fact the initial story is written by the owner. However it is simply a common picture of what happens when the "authorities" are involved. And that is confusion and loss of money. Those of you who had money in Refco, etc know this. ALWAYS search out and think of the consequences of an action before you do it. Find out if you can what has happened to those who have had similar experiences. That is why I started the thread mentioned in a previous post. Until some real action is taken by traders for traders, nothing will change. Governments are not around to spoon feed you, and are not money neutral. They will take their share and their time in receiverships.

Ill fated Swiss Federal Banking Commission "INVESTIGATION" into Tradex Swiss AG - Free-Press-Release.com

I suspect at this point, all of Alecco's clients have been informed of what is going on personally and are being updated. I have not seen any of his clients on this forum talking about any of this recently. I may be wrong on this.

__________________
"If I have not love, I am nothing." So what is love? Is it our present day romantic notions? To me not. To me love is the willingness from the heart to serve others with respect, kindness and practicality in whatever way God gives us. As we serve others in this fashion we serve and reflect Him who made us all.

Not a surprise, coming from "authorities" in a country well known as a safe place to hide money stolen by politicians all over the world...

I decided to be more blunt. Not my style. But I've had too much experience in this area to just be quiet.
Again, I say openly I support Alecco and know he is an honest man.
But just as openly I will tell you about what goes on when the authorities are called.
This is precisely what will happen.
1. They will see there is money involved and will call the appropriate agency.
2. The appropriate agency will see there is money involved and lick their lips.
3. They will then FREEZE everything they can find that is connected. They will continue licking their lips and offering "comforting" words to you such as "we are working on it."
4. They will appoint a "receiver" to take control of all monies while he finds the "facts". The "receiver" will do just that. He will receive YOUR money. He will be paid about $100-300K per month to find out what's going on. He takes that money out of YOUR money. The govt DOESN'T pay.
5. It is to his advantage to keep this up as long as possible. He also has an expense account to find the "facts" with. Guess who pays the bill???? You do.
6. If there is NO wrongdoing, the company is shut down anyway.

One outstanding example of this cost a friend of mine 2 million. After all was said and done years later the receiver found that indeed the company did have the assets they claimed! It is now 4 years later and they are still finding "facts" and have not returned 10 cents to ANYONE. Those at Refco are lucky. They got 50 cents back on the dollar years later.

Another point- look at examples of corporate misbehaviors. Are any of their CEO's being punished for what they have done? Occasionally.

The government will NOT help you.

Still think calling the authorities is a good idea?

Consider this. Let's say it's true that Alecco is doing all possible.
At least that presents you with a chance to get all your money back and possibly quickly.
You call the authorities and everyone loses equally.
That's the way I see it, and I've seen it enough times to know what I'm talking about.

__________________
"If I have not love, I am nothing." So what is love? Is it our present day romantic notions? To me not. To me love is the willingness from the heart to serve others with respect, kindness and practicality in whatever way God gives us. As we serve others in this fashion we serve and reflect Him who made us all.

No so, at least not one word since

Do you mean that we should not take any actions, just sit and pray God that we receive our money?

Idontdowindoughs , do u have funds with Alecohfx?

[quote=forexwoman;196507]Do you mean that we should not take any actions, just sit and pray God that we receive our money?

What I am saying is that no action should be taken that will cause more harm than good. It is better to do nothing than cause harm.

I have been recommending action; action with longterm good for all of us, some of which can be implemented in our trading accounts immediately. See here
Broker Shutdowns
and also a better explanation of how to do this posted a bit further down in the same thread by forexmgr.

Ultimately, it is we ourselves who must help each other.

__________________
"If I have not love, I am nothing." So what is love? Is it our present day romantic notions? To me not. To me love is the willingness from the heart to serve others with respect, kindness and practicality in whatever way God gives us. As we serve others in this fashion we serve and reflect Him who made us all.

First of all I would like to address both the people who are defending me and the people who are attacking me.

For The people who are defending me , thank you from the bottom of my heart.

For the people who are attacking me , thank you too because you are vigilant and that is something i highly recommend in these days where trust is so rare.

Now for the weekly Brief to all investors in aleccohfx :

My lawyers received today a proposal from the Broker/Liquidity provider stating that they would settle for 50% of the money.
We are sending back today our refusal along with the Criminal Law suit if they don’t pay 100% of all the funds in question.
I am taking personally care of all expenses, legal and administrative in order to return the funds to their owners even though I am not asking anything for myself.
If we go ahead with the law suit, all investors will receive a copy of the law suit along with all the documents related.

I cannot brief you more , we are waiting for the answer of the Broker's/Liquidity Provider's Lawyers that should come in the next day or so.

__________________
Good Day

aleccoh

It's so sad.

What basis are they claiming that they have rights to the customers' funds???