Club-FX Recovery Plan on Page 40 at Nobullshit Network Forum

seemezoo · 06-23-2007, 12:06 AM

Quote:

Originally Posted by Conciliator

I say we go for option 3: he does both, and with no "waiting" for e-gold. He can buy ebullion for those who want to be paid in ebullion and he can go to IceGold and immediately buy e-gold for those who want to be paid in e-gold. Problem solved. These two options are not mutually exclusive. Maybe someone who's not banned over at GT could propose this.

Option 3 ... Conciliating idea

If the poll ended with e-Bullion chosen by majority, PeterB would have
to have some members who has yet to have an account signed-up, to
which I suspect quite a few people would be unhappy about if not
pi**ed off.
If the poll ended with e-gold chosen, he would get quite a few
people begging (or demanding) for an exception, to divert to e-Bullion, after all.

Ok he won't be able to make all members happy nor he would care to
anyway at this stage I guess.
That's ok and not the point.

Let's assume (who can resist?) something is to go wrong during refund
process. Seriously, something could go wrong either case of e-B or e-g -
"something" legit or not.
What would happen then? - either case:
PeterB would get a bunch of people accusing him for "forcing them to
accept" e-Bullion/e-gold they did not prefer.
That just isn't necessary to happen. People can't afford to handle anymore unnecessary emotion.

Realistically, if he choose to pay with e-Bullion to only those who
prefer it, they will send him account number without delay and he would
be able to get on with it as he seems wishing so anyway.
He's got others' e-gold number of course.

I was actually writing a post at GT up to this point, when I questioned
myself:
How will PeterB allocate each fund, without delaying/messing up
refund process?
Let's forget the possibility "he MIGHT have extra fund anyway" -
and let's be more realistic, to let PeterB working on refund as easily
as possible = as fast as possible.
(yes I'm assuming he does refund.)

e-gold OR e-Bullion. One single option would be the answer I guess, after all.
Poll is up at GT by the way...
Of course there is still a possibility something could go wrong...

Conciliator · 06-27-2007, 09:17 AM

The latest from Peter:

Quote:

Wire transfers are possible but the most costly, and simply wouldn't be feasable for 95% of the members, because I can't do the whole amount at once. so the amounts we are talking about here are in most cases less than the cost of the wire.

e-gold is too risky right now... I'm hoping (like everyone else) that they get fixed up soon, I'm not happy using any of the other e-gold exchangers and I'm not going to risk any more money.

e-bullion seems to be the safest way to go at the mement so I will open an e-bullion account and refund those who want their refunds now, and anyone who can wait till e-gold is sorted... well we'll start those refunds then.

I have wired the first batch of refunds from trade to my bank account and as soon as I have your details and loaded my e-bullion account then I'll start refunding. Those of you who want e-bullion please can you pm me your CFX username, e-gold username and e-mail (just to verify) e-gold number and your new e-bullion details. I need to make sure that the e-bullion refunds are going to the right people and that no one is trying to pull a fast one again.

This, first of the re-funds is going to be quite small to start off with but I expect that they will grow as time goes by.

I don't see what the big risk is in using e-gold when Peter's simply sending payments out as soon as he gets the e-gold. It's not like he's keeping a large balance. Just buy the e-gold and send e-gold payments to those who want them. I question when it's ever going to be "safe enough" in Peter's mind. What exactly does it mean to "wait till e-gold is sorted"? E-gold could be involved in this legal crap for months. Just buy the e-gold using IceGold and get on with it, no excuses.

Second, not everyone can use the fascist forum (TG) he's communicating through. Can we contact him by email? Is his address still admin@club-fxtrader.com or is it something else now?

Third, how much is being returned? What percentange of our principal will we be receiving? Or is it a percentage of our net loss that we'll be receiving? Peter also said that he had 20% of all the principal in an account that wasn't "hacked". How much more did he get from "his friends"? What's the total that he's been "trading" relative to the lost principal? These are the kinds of things that need to be stated explicitly, rather than left as more mysteries for the investors to speculate on.

ybop · 06-28-2007, 12:18 AM

I've just had it confirmed from PeterB that only those with a net loss will be refunded. In other words if the profits already paid meet or exceed the principle then you get nothing.

Conciliator · 06-28-2007, 12:39 AM

Quote:

Originally Posted by ybop

I've just had it confirmed from PeterB that only those with a net loss will be refunded. In other words if the profits already paid meet or exceed the principle then you get nothing.

Would sure be nice if Peter answered the question that was raised several times: how does the 20% of the fund he didn't lose compare to the investors' net loss?

Edit: Oh, this is good, now he's claiming that this money was his:
GoldenTalk - The best forum about HYIP (High Yield Investment Programs) - View Single Post - Club-Fx

Quote:

I never said that I had 20% of all the principal in another account. I said that I had another account which, if I used that money it was about 20% of the members balance. I have never answered any questions about that account because it has nothing to do with CFX, it is totally separate, I'm sure if you go back and dig up my post on the subject you will see what it actually said and not what you thaught it said.

Well, let's do just that. It looks like this was an account you were transferring money to and trading with:
GoldenTalk - The best forum about HYIP (High Yield Investment Programs) - View Single Post - Club-Fx

Quote:

Originally Posted by hyip-rater

Below is a part of post#2165 that was left unanswered maybe because it was buried by off-topic posts. I look forward to an answer:

"..On a second note, As I remember, you were trading on two different platforms: 1 for e-gold and 1 for $'s. see post #33 of this thread GoldenTalk - The best forum about HYIP (High Yield Investment Programs) - View Single Post - Club-Fx. Now that the e-gold is lost, what happened to the $ account?.."

And Peter's reply:
GoldenTalk - The best forum about HYIP (High Yield Investment Programs) - View Single Post - Club-Fx

Quote:

The other account is where I was transfering the money to. it has a little in it but not much, I was considering using this money as a part payment to everyone and just be done with this whole thing, but it would only give people back about 20%.

Schminner · 06-28-2007, 12:48 AM

Those who are still at a major loss will possibly get a "partial" refund

...

and in return, you'll have to praise him as a hero for "partially" refunding the loss due to Paul Roeder ...

Conciliator · 06-28-2007, 01:36 AM

Quote:

Originally Posted by Schminner

Those who are still at a major loss will possibly get a "partial" refund

...

and in return, you'll have to praise him as a hero for "partially" refunding the loss due to Paul Roeder ...

No kidding. This whole thing is a freaking joke. The whole unsubstantiated story is a freaking joke. I thought it was ridiculous that Peter would tell me "Being a forum mod yourself, you should have known better than to encite the members to such a level of panic and anger, especially in this environment." No, being a program admin he should have known that after claiming some questionable disaster that he better be damn prepared to substantiate it, provide evidence, and answer questions, lots of questions. He incited the "panic and anger" with a fraudlent e-gold screen shot, half-assed explanations, and lots of tight-lipped secretiveness. I'm still furious at him.

Conciliator · 06-28-2007, 02:16 AM

Quote:

Originally Posted by PeterB

I borrowed $100 000.00 from "a" friend for one year.

The math here doesn't seem right to me. He claims to be trading $100,000. He claims to make 20% a month. He claims he traded for 3 weeks this month, which would have been about 15% or $15,000. Is this supposed to be only 5% of the investors' net loss? That would mean he needs to return a total of $300,000 to all those who had a loss. I don't buy that for a second. He's only making returns to those who were in the red and to the amount of the net loss. The numbers are not right here. I can only hope that this money is not going to pay for the new pool that Peter recently bought.

**Jude** · 06-28-2007, 04:20 AM

There's really no way that you can make constantly 20% per month on forex. No way. It all bends down to how you trade and how well you manage your funds.

I'm not putting too much hope on the refunds.

**allinvain** · 06-28-2007, 05:36 AM

new pool

..ok, if the refund process encouters difficulties of any sort, the least I can do is go down to Peter's pool for a nice relaxing swim

Schminner · 06-30-2007, 02:02 AM

Quote:

Originally Posted by Jude

There's really no way that you can make constantly 20% per month on forex. No way. It all bends down to how you trade and how well you manage your funds.

I'm not putting too much hope on the refunds.

20% per month is achievable

, and you can easily lose more than 20% in a week..

If a person can trade and make 20% per month consistently, that's a license to print money ...

I think PeterB will pay 5% per month for a few months, then he'll claim all loss in forex, but will not provide proof again or just vanish into thin air ...