Francesc Riverola,
Hi everyone
For once, allow me to use a bad word:
What a jerk!!!!
Francesc
Statement of the Receiver following his April 23, 2010 meeting withTrevor Gilson Cook
… According to Cook’s plea agreement, “his currency trading during the period from July 1, 2006 through August 31, 2009 at PFG in Chicago generated trading losses in excess of $35 million.” Cook also filed a claim against Crown Forex, S.A. for $67 million in investor funds that he claims were being held by Crown Forex, S.A. Crown Forex, S.A., however, is insolvent. Therefore, the timing and the amount of any potential recovery is speculative, uncertain, and unknown.
R. J. Zayed, Court-Appointed Receiver for Trevor Gilson Cook et al.
More info here about Cook/Kiley receivership
Interesting articles explaining current situation of former owner of the deceased Crown Forex S.A:
Hopes of cash stash dashed in Minneapolis money manager Trevor Cook case
Trevor Cook’s plea deal required his cooperation in finding hidden assets. Now the confessed con man says there aren’t any.
By DAN BROWNING, Star Tribune
Investors who sunk more than $190 million into a foreign currency scam promoted by Minneapolis money manager Trevor Cook over the past several years got some grim news Monday.
Is Trevor Cook Lying To Ponzi Investigators In $190 Million Case After Accepting Plea Deal? Investors Say Story Too Incredible To Believe
By PatrickPretty.com
EDITOR’S NOTE: Some of the investors in the Trevor Cook/Pat Kiley Ponzi scheme in Minnesota say they believe Cook is lying to investigators about the whereabouts of assets and perhaps other elements of the probe.
“We do not believe this much money could be totally lost in such a short period of time,” an investor told the PP Blog this evening.
Wow, what a jerk indeed!
Bittersweet irony that a con man put his assets into a con broker (Crown), unless the two parties were secretly working together. Hope those investors are able to get something back, but I don’t think the Crown investigators found an extra $67M lying around..
Update…what does it mean for the poor CF clients?
http://www.leagle.com/unsecure/page.htm?shortname=infdco20100506c70
May 6, 2010.
U.S. COMMODITY FUTURES TRADING COMMISSION v. TREVOR COOK
U.S. COMMODITY FUTURES TRADING COMMISSION, Plaintiff(s),
v.
TREVOR COOK d/b/a CROWN FOREX, LLC, PATRICK KILEY d/b/a CROWN FOREX, LLC, UNIVERSAL BROKERAGE FX and UNIVERSAL BROKERAGE FX DIVERSIFIED, OXFORD GLOBAL PARTNERS, LLC, OXFORD GLOBAL ADVISORS, LLC, UNIVERAL BROKERAGE FX ADVISORS, LLC f/k/a UBS DIVERSIFIED FX ADVISORS, LLC, UNIVERSAL BROKERAGE FX GROWTH, L.P. f/k/a UBS DIVERSIFIED FX GROWTH L.P., UNIVERSAL BROKERAGE FX MANAGEMENT, LLC f/k/a UBS DIVERSIFIED FX MANAGEMENT, LLC and UBS DIVERSIFIED GROWTH, LLC, Defendant(s).
R.J. ZAYED, Receiver.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Plaintiff(s),
v.
TREVOR G. COOK, PATRICK J. KILEY, UBS DIVERSIFIED GROWTH, LLC, UNIVERSAL BROKERAGE FX MANAGEMENT, LLC, OXFORD GLOBAL ADVISORS, LLC, and OXFORD GLOBAL PARTNERS, LLC, Defendants. and
BASEL GROUP, LLC, CROWN FOREX, LLC, MARKET SHOT, LLC, PFG COIN AND BULLION, OXFORD DEVELOPERS, S.A., OXFORD FX GROWTH, L.P., OXFORD GLOBAL MANAGED FUTURES FUND, L.P., UBS DIVERSIFIED FX ADVISORS, LLC, UBS DIVERSIFIED FX GROWTH, L.P., UBS DIVERSIFIED FX MANAGEMENT, LLC, CLIFFORD BERG, and ELLEN BERG, Relief Defendants.
R.J. ZAYED, Receiver.
Case Nos. 09-cv-3332 MJD/JJK, 09-cv-3333 MJD/JJK
United States District Court, D. Minnesota.
May 6, 2010.
ORDER GRANTING RECEIVER’S MOTION FOR SALE OF CERTAIN PERSONAL PROPERTY IN ITS POSSESSION
MICHAEL J. DAVIS, Chief Judge.
IT IS HEREBY ORDERED that the Receiver’s Motion For Sale Of Certain Personal Property In Its Possession pursuant to 28 U.S.C. § 2001 and 28 U.S.C. § 2004 (Civ. No. 09-cv-3332, Doc. 257 and Civ. No. 09-cv-3333, Doc. 253) is GRANTED.
IT IS SO ORDERED.
Hello,
I was a client of Crown Forex, and have been unable to withdraw my funds for 17 months now. The liquidators, appointed by FINMA, sent me an email I will post below, asking for an account statement between the dates of February 20, 2009 and May 25th, 2009. I dont remember if the platform was even up for anyone to get a statement, and even if it was, who would think to do that?
If they took control of Crown Forex, are not they the only ones who can produce such a statement?
Also, on May 24, 2009 I emailed them, at their request all the information they asked for including my outstanding balance. Seems they are requiring an impossible task. Are there any other investors out there that recieved this request? Am I missing something here?
Here is the email they sent. I erased my account number:
Dear Sir,
Dear Madam,
We are currently reviewing the claims that have been submitted to us in the bankruptcy of CROWN FOREX SA.
Your claim is currently incomplete.
We therefore ask you to provide us with the following missing documents/information:
1) Your personal mailing / postal address;
2) Your personal telephone and/or fax numbers;
3) A copy or scan of a CROWN FOREX SA account statement showing your equity on the time of the opening of the bankruptcy (May 19, 2009 at 8am Swiss time).
If you are unable to submit an account statement showing your equity on the precise time of the opening of the bankruptcy, you may provide us with an account statement showing your equity at the closest possible date thereof, but neither before February 20, 2009, nor after May 19, 2009.
If you are unable to submit a CROWN FOREX SA account statement showing your equity at a date between February 20, 2009 and May 19, 2009, you may still submit an account statement showing your equity after the time of bankruptcy, but as close as possible thereof and in any event, no later than May 25, 2009;
Your equity before February 20, 2009 or after May 25, 2009 shall not be taken into consideration in the assessment of your claim.
Your claim shall be assessed on the basis of different elements, of which the documents and information provided following the above guidance are only a part. We may therefore modify, reject or reduce a claim, in spite of the fact that it seems to be supported by said documents or information.
Any alteration, modification or falsification of the information mentioned on an account statement, as well as any forgery of an account statement provided to us may constitute an offence punishable by law.
The aforementioned information must be submitted within 10 days from receipt of this communication, via e-mail to the following address:
liquidators@crownforex.info
or by mail to:
Laurent WINKELMANN and Philippe von BREDOW
NOTTER MEGEVAND & Partners
3 place Claparède
1205 Geneva
Switzerland
Our decisions on the claims will be communicated at the same time to all claimants individually.
Due to the important number of claims currently being reviewed, we do not expect those communications to take place before a couple months.
Any significant development in the bankruptcy proceedings shall be published on the website http://www.crownforex.info.
We thank you in advance for your cooperation.
Yours truly,
Laurent WINKELMANN
Philippe von BREDOW
Actually you are happy because they are at least talking to you. Response to all of my emails to them is only like: “Wait several months etc….”
I was receiving monthly statements via email from Crownforex every month until April 2009. Check your emails from CF.
Hi Francesc,
Came across this US Court pdf today, as it is 12 pages long I did not want to post it (!), but let you have a look at it.
Interesting breakdown of Cook’s spending and “investments”
such as
“Receiver seized three additional vehicles that
belong to the Receivership. Since then, the Receiver has obtained approval from the
Court to sell them at a public auction. These vehicles include a 2005 Lexus 33 series, a
2004 Lexus L43, and a 1997 BMW 328ic. The public auction will be held on June 5,
2010…”
“Cook invested $15 million of Receivership funds in exchange for a 35% equity interest in
JDFX. Cook invested $2.0 million in Mesa Holdings and loaned Mesa another $1.55
million, all in Receivership funds. Cook invested $1 million in JP Fund Services in
exchange for an equity interest and loaned JP Fund Services another $600,000.00, all in
Receivership funds. Cook also invested $250,000.00 in Receivership funds in a
subdivision of Capricorn for a 50% equity interest. Cook further invested $1 million in
TNT in exchange for an 18% equity interest.”
http://www.mnd.uscourts.gov/SEC-CFTC/100505-StatusReport.pdf
BM
I do not dare to say out-loud what I think about this Cook guy….
Group for Crown Forex S.A Victims Created…
More info:
http://blogs.fxstreet.com/francesc/2010/05/12/crown-forex-victims-group-created-come-and-join-me/
i started fxcm without any knowledge.i lost $20000 on it.thats my life and my future.pls help me to find my money back pls somebody help me.if any one knows the owner of fxcm pls forward my massage to him.pls contact me at ibrahim_iyax@hotmail.com for helping me