Reply With Quote
Good luck with those ping pong balls Kool
Lol....this dude musta graduated from the Ma and Pa Kettle school of Math...
The lawsuit, filed in January, seeks more than $1 million in damages. It alleges that Banks withheld Duncan's return on a loan and forged Duncan's signature on at least two do ents. Duncan lost 25 million in investments.
Congrats on your 1,000th Duncan thread, kool.
Awesome news..
Duncan living rent free in OP's head.
LOL!!!
Huge difference between "only" one million and "more than" one million.
You don't get how this works. Duncan will automatically get his money back when they seize his FA assets. This 1 mil is additional DAMAGES (NOT LOSSES), on top of recouping what he losses. He does have to sue for what is his already (HIS INVESTMENTS). The SEC and Feds will force this FA to give back all the assets. But on top of that, Duncan is seeking 1 mil extra for damages.Lol....this dude musta graduated from the Ma and Pa Kettle school of Math...
The lawsuit, filed in January, seeks more than $1 million in damages. It alleges that Banks withheld Duncan's return on a loan and forged Duncan's signature on at least two do ents. Duncan lost 25 million in investments.
Now you see whats going on. You don't have to sue to get back you already own.
didn't kool claim he was working in a law office?
This is worse than a rookie mistake. He should resign right now.
He made the investment he aint getting back...once its over he will be out of another 2 million...the 1mill he's sueing for like a dumbass and the 1 mill from the counter suit....in all he will be out if 27 mill...
So he's suing for 1.1ish..when you say 1 mill anything over that doesnt make a material difference unless you explicitly say 1.5 or 2 mill..so in essence he's suing for 1 mill in damages that he will end up eating himself...moron
This is worse than a rookie mistake. He should resign right now.
No. Ask your boss how this works.
If you really have a job.
There is also the problem of whether or not the amount initially invested was for the sum of around 1 million and whether or not the investment had matured to an estimated worth of 25 million and were sold w/o Duncan's knowledge or approval. Also if the accountant stole 1 million to make these investments with the intent to steal it from Duncan, then technically Duncan didn't lose 25 million because HE wasn't the one to invest it. It was made with stolen money. Duncan could only be suing for the amount that was initially stolen which could easily be for around the same amount. He has no legal right to the 25 million because they were fraudulent investments.
The guy was investing in HIS OWN dummy companies and pocketing the money. Did you read the story on how Duncan lost the money. Yes, his FA assets will be seized and sold for misappropriating client funds. Monies from these acquisitions will go directly back to Duncan. Plus the gov't will give some relief as well.
It wasn't like Duncan invested in a public company and stocks just went down. These were private, self starter businesses. The assets for these companines will be seized and distributed back to the investors. And the private assets of the FA in question will be seized as well.
Duncan should recoup probably around 70% of what he lost.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
