Hopefully the investors will recover something, but it does look pretty grim.

I don't know how Allecoh is going to spin this into something positive. But I look forward to him trying.

This thread had big glaring problems from the get-go. In fact, under the current Forex-TSD rules - I don't think it would have lasted a day.

And since this is a public forum - that was greatly abused - there shouldn't be any problem with those who were right all along putting the finishing touches on this disaster. Who else would we trust with that task? Plus there's always the possibility that someone will read this conclusion and learn a valuable lesson for the future.

So what am I talking about? Here's a few of Allecoh's Greatest Hits that should have had you running for the hills from the very beginning.

1. "Never Loose, Never Break Even, Always Win Since 1987"

2. His 200 pips were worth all of 2 bucks!

3. Nobody was ever allowed to show their statements to the public because it was against some BS, imaginary rule that defied common sense and standard practices.

4. Few, if any, of the original "happy campers" ever participated in the thread after confirming that their accounts were up by a whopping $2. They vanished without a trace.

5. The continual shifting explanations of just about anything, including his trading techniques and the technical deficiencies of his "brokerage" firm.

6. Repeatedly ignoring direct questions from customers like Omelette (and probably yourself) - who to this day - still hasn't gotten an answer to the most basic of questions.

7. As AllecohFX was clearly experiencing problems in recent months - the issues were TOO SECRET for him to share any meaningful information with his investors. That is just sooooo laughable!

Have you ever read the Wall Street Journal or a similar publication? They're FULL of business problems.

And we still had new people (idontdowindoughs) coming out of the woodwork to counter the alarm that was being expressed by distressed investors. In fact, those investors were advised to DO NOTHING!

So those are just a few of Allecoh's Greatest Hits. Maybe you have some of your own that you could add to the list.

Again, this is a public forum. The real problem is that the warnings from the non-believers weren't listened to as those Greatest Hits were being produced.

We're the only ones who ever tried to help. So don't even think of complaining about us now.

One of the greatest hit is that many people wired money into his personal bank account.

The one sure 'scam' perpetrated involved the so-called 'EA hosting service'. I emailed Support at least 5-6 times looking for specific info on what platform the "99% accurate" backtests were being performed on, only to be fobbed off each time. To get me off his back on this, his final "exasperated" rambling email provided vague references to different O.S's the setup was running on, but again, no specific info. that could be researched... Remember also, when Aleccoh was spinning this initially, we were told that customers would be able to download this 99% accurate pricedata themselves for backtesting, but were not allowed to share it with non-customers (one of the primary reasons I opened an account). On emailing Support about this I was told that I was mistaken - even though his posts on this still exist - that all testing was performed at Aleccohfx. Finally, when one customer submitted an EA that the 'Aleccohfx Trading Team' confirmed as profitable and sought a copy of these backtest results, Aleccoh refused, citing some other ridiculous reason why this was not allowed...

Bottom-line - the hosting service was simply an attempt by Aleccoh to get is hands on profitable EA's for free! Now, why would someone who has supposedly not had an unprofitable year since 1987, be on the prowl for profitable EA's you may ask! Well, as I have already posted, my real, managed account was traded exclusively with a couple of shoddy EA's, the Bulldozer EA being one (which incidently, is nothing more than a lame martingaler). Also don't forget that Aleccoh is on record here on TSD in old posts (that he neglected to delete) of bragging openly of making big money with scalping EA's!

There is in fact zero proof that Aleccoh is in fact a 'proper' trader to begin with, all there is to back it up is the continuous rhetoric he spewed. Whereas there is quite a bit of evidence to suggest the opposite - recall that on several occasions in this thread, Aleccoh was actively trying to recruit traders, even opening a new thread in his quest, on one occasion.

So although there is absolute proof that Aleccoh has continuously lied about various things throughout, (though some deluded individuals still voice support for him - mind-boggling!) I actually believe that Aleccoh himself was probably one of the biggest losers in this sad episode, both financially (in all likelyhood, he was ripped off by Spacevision as well) and personally - his reputation has been totally destroyed...

sorry to say guys, but i am not sure how much this country can help you in this issue, especially that they r in a crisis and they cant help themselves
but always keep the faith

You are wrong about that.
You will always have more recourse against an individual. That is the whole point of opening a company - it it LIMITED LIABILITY.

I'm going to go with what the Liquidator said, that is, if you submitted money via the Lebanon account, then you're basically screwed (which I did, so I have given up all hope of seeing my $500 bucks) - there is afterall, little or no money left in this account...

Anyone think we have seen the last of Aleccoh? He appears to have gone to ground again, probably for the last time! All there is left to do is hope that he has lost more financially than any of his customers...

I get the sick feeling that he's gone.

But he sure as hell owes you folks an explanation. Even the horrific truth would beat nothing at all.

Explain what - that he has been lying from the beginning? Don't think we will see that happen...

To summarise, he lied about account security, he lied about Spacevision, he lied about not being a White Label, he lied the worthless accreditation, he almost certainly lied about AFX's net-worth, he lied about the no dealing desk, he lied about scalping, he lied about slippage, he lied about stop-hunting - the list goes on. All of these lies are easily verifiable from customer feedback and retractions by Aleccoh, in this thread alone. And I'm not even considering all of what one would consider 'lies by omission' - as I have said repeatedly, getting specific information from AFX support on anything was a nightmare. Only bits of questions that they felt comfortable answering were responded to, the rest was either ignored, or if you demanded an answer, were responded to in an implied or suggestive manner - hardly ever directly. It used to crack me up to hear the Aleccoh supporters, some of them customers, openly defend him on numerous occasions, despite all that had already been documented - and this was well before the S.H.T F...

Well, s..t, if that isn't the nail in the coffin, I don't know what is. Mr. A (for Assclown now) will probably never show his face around here again. I knew it was too fishy, and all his stalling techniques just didn't make any sense. But come on, I would not even send funds outside of the US, to Lebanon that's as good as gone when it hit the mail.

Omelette

Goto the FxOpen thread, the same thing is going on there. You cant tell them that its a scam wating to happen. It like their in love and blind to the reality or something.

In FxOpens case you cant get ANY information about who there are. not even were there are located. The people there tell you to bug out. As they say If You dont have an account with them you dont know anything. Well thats another case of a broker that going under a half dozen names and will disappear with everones money. In the end they will still defend them too. Dumb as a stump, some people just have to believe that theres good under every rock.

May be we should start a brokerage office, I have a small area in my basement that I can move the junk out. Only need a phone, fax, and a bank wire account. There dont have to be in the same area, either. as FxOpen has the phone and fax machine 1800 miles apart and their wire bank is on the other side of the world. Talk about a global outfit.


Keit