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Paul, NFSG and the boggling issues

October 21, 2006

Paul with boggling issues:
“Hello everyone,
I have now completed all the returned deposits bar one guy who I am waiting bank info on to get their wire back over.
I have taken the decision to lock this forum as it is not serving a purpose other than for people to shout and vent, since I don’t have the time to come here and review things and actually answer questions it just spirals out of control.
If you have questions email me, better yet do as many have done already and call me as I just don’t have the time to come here and answer in person anymore.
The situation you have already all been made aware of and we have told you how we are going to combat this situation.
I have been speaking to a many people over the phone these last few days and one question that does come up quite a lot is how we can return the fund to 100% liquidity if it is only around 30% now as that will take a lot of effort to trade it back up.
And you would be correct, IF we were just trading it on its own. But we have not been. To increase the liquidity since this occured Ken and I have been putting our own money back into the pot obtained from the commission etc from the Managed Accounts along with our own trading account returns. This has personally cost us several hundred thousand already…..so it is quite frustrating when we have to do it all over again to boost it back up further.
It is a problem that will be resolved, not overnight, but it will get there because the additional amounts going into the account are NOT just from trading.
I have had literally hundreds and hundreds of emails saying that they are happy for us to do what is required to ensure the future life of the fund….and that IS my priortity.
Of course there are people who are not happy about the situation, and that is your right of course, but the situation is as it is because it is necessary right now and no matter how unpopular it makes us with some of you, we are still going to do it.
I am going to be honest and say that I have not had the time to read all the threads that were here, but several people have mentioned to me about the documentation concerning this event and providing proof.
We are currently getting all the case file together along with the Bank Statements. HOWEVER we are NOT going to be making these public.
The reason is this, other than making YOU certain that we are not just making this all up, what good will it actually do??……it won’t do anything, it won’t change anything, all it will do is prove we are not lying about it.
Under normal circumstances this would be more than enough, however I again have to think about the bigger picture. If we posted all the case information, a vast majority of you would read it and be satisfied. However there may be some amoung you who would want to take matters into your own hands and approach them directly yourself demanding your money back etc etc. If this were to happen then there would only be one result.
Ken would no doubt get into trouble and the pool fund as it stands right now would be instantly frozen and we would just clear the balances at this point to the level of the liquidity…..this is definately not something that we can allow to happen, especially when this is a problem that we are going to resolve.
This being said I can also see the need for you guys to know that we are not just making it all up in an elaborate plan to run off with the money. To this end we will be taking all the case files directly to some people offline.
One of the forum members here (Cralle & cs65) is actually from Denmark, and once Ken has Compiled the casefile and Bank Statements together he will be driving over to see him in person so that it can all be independently verified. Of course all the docs are in Danish, so it helps being able to read the language. We expect to get everything together sometime next week….but do NOT hold us to this as we need to wait on them providing us with all the details they are holding also.
There has also been some talk about allowing people to cash out now at the current level. This is something I have given some thought to, and right now I am not certain about it so I will give it more thought over the weekend. It is quite possible that we may do this, in a phased manner such as 10% per month or something like that….of course doing so would close your account down, but I will come back to that I think after this weekend.
That is really all I have to say to be honest, but I would be happy to speak with you should you have any questions.
I have outlined the problem, outlined how we are going to fix it and confirmed that we have the proof that we are not making it all up and are willing to disclose this independently so as to not make the situation worse.
Speak soon,
Paul”

Written by HYIP Network · Filed Under HYIP news 

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