On December 14, I received a letter from Laura Riso, Victim Specialist of the U.S. Department of Justice, Federal Bureau of Investigation. Her fax number is 212-384-8289. I foolishly did not respond because I was told by the law firm representing me that everything should go through them.
I recently concluded that this law firm was only looking out for themselves and focused on the 35 percent fee they would earn. Therefore, I terminated my relationship with them. Obviously, it is better to have the top Federal law enforcement agents on your side. There are a number of lawyers advertising on the internet to represent you.
This case is the worst financial scandal since Bernie Madoff scandal of a decade ago. Madoff is currently serving a 145 year sentence in a federal prison. The main difference is that his crime was regulated by the Securities and Exchange CommIssion while this crime was under the jurisdiction of the Commodity Futures Trading CommIssion.
This difference probably explains the arrogance of the clearing firm of OptionSellers. It is INT FCStone, a publicly traded company with total market capitalization of well over $700,000,000. The price of their stock can be checked at any time.
When this clearing firm had liquidated the holdings of OptionSellers it billed the innocent investors for the losses. At first I was told that I owed them over a million dollars for their losses. Eventually they scaled down their demands and agreed to pay me about fifteen percent of what I had invested. At that point I had to accept it. However, I did not have to sign a document releasing them from any liability.
The highly paid officers of this clearing firm are free to continue business as usual. I have hopes that the victims like me will win in the court of public opinion. It helps that we have the support of the nation’s top law enforcement agency on our side.
Michael R. McLeod