[forex scholar]

Having a rough day trading? Well, things could always be worse. You could have an account at one of the bankrupt forex firms described below. Perhaps the worst thing about having an account locked up in bankruptcy is the uncertainty and the legalese that gets spit in your face by court ordered receivers, (although in the case of Aleccoh FX all you get is some ass clown appearing once a month on a bulletin board hiding behind a mug shot of George Soros.)

Here is the latest correspondence from the court appointed receiver at FXLQ:

Robb Evans & Associates LLC
Receiver of Forex Liquidity LLC

Notice to Customers and Creditors of Forex Liquidity LLC

May 28, 2008

The Receiver has communicated with many of you that it intended to file a motion this week with the United States District Court seeking approval of an interim distribution.

In the last few days certain unexpected events have taken place that will cause a delay in the Receiver’s motion. Those events involve creditor and other related issues which may or may not impact the ultimate distribution proposal to be made by the Receiver. The Receiver is not currently able to disclose the nature of what has transpired, but hopes to have these issues resolved very soon.

If these issues can be resolved, the Receiver should be in a position to make a distribution recommendation to the Court by mid-June.

There is a lot of hedging in those three paragraphs. A lot of “if’s, should’s, unexpected’s, may’s, and hope’s” tossed in, which makes it far more likely that the customers stuck at FXLQ aren’t going to get all of their money back.

Of course his Holiness, Aleccoh FX, can’t be bothered to communicate in such a professional manner. He continues to hide behind a .jpg of George Soros and in his latest bloviation to the masses states: http://www.forex-tsd.com/212268-post1815.html

Good Day All

I am sorry for the delay in briefing you all but please be sure that my lawyers and I are following through this matter daily and recently by the hour.

Here is a small brief :

After many tractations and stallings by the -----------.SA staff and by its president, all the funds of the privatly owned account of its president has been frozen.

The good thing is that unofficialy the aleccohfx account holder's funds are there.

I of course refused to drop the criminal charges against these scammers unless they return the funds to each and every investor to the last penny.

As it seems, they are sending emails to the account holders giving them the choice to either continue trading with them or withdraw their funds.

I couldn't emphasize enough to send an immediate withdrawal of your funds to this email because i do not trust these people a bit , and if you read the postings on this thread, you will know why.

Please report back to aleccoh@aleccohfx.com if you have received your funds in order to inform my lawyers and the judge in charge of the case.

I must remind you that eventhough they bankrupted aleccohfx and -------.SA, we made sure that our criminal case was against physical persons and not moral persons, in clear, we are prosecuting mr --- --- and not the company , and the judge accepted this prosecution and acted upon this by freezing mr ----- funds.

It seems that the justice is putting the heat on them as we speak , and this is why they are trying to get out of this mess they put themselves and aleccohfx investors into.

I hope this will bring an end to this story very soon and it is not another stalling technique by these crooks.

Goodspeed
__________________
Good Day

aleccoh

Such is life in the world of the undercapitalized. Let’s hope the new laws in the U.S. and Switzerland close the book on these all too common “bankruptcies.”