|
PureBytes Links
Trading Reference Links
|
Misery loves company so I'm glad to se Tom's comment about this. I have
most of my IRA money at InTrust and follow the events pretty closely. Even
if you don't have money with them reading the civil suite per Tom's link is
amazing. InTrust has fiduciary responsibily for $20 billion. It's board
chairman moved $68 million in InTrust money to his own firm, put it in an
escrow account and withdrewall the funds. Has been doing it since 1990.
Was reprimanded by the IL regualators, and managed to cover up the fact that
the money was taken within minutes after arriving from InTrust.
I'm naive I guess but it is aboslutely beyond belief. Fortunately it looks
the amount is relatively minor compared to assets and I understand the odds
are very good for a buyer to be announced in July.
Regards,
Jim Johnson
jejohn@xxxxxxxxx
----- Original Message -----
From: Tom Brun <tdbrun@xxxxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, June 07, 2000 11:14 AM
Subject: Intrust civil suit
> For those who might be curious, the link below will provide some
> information on the Intrust receivership situation. So far I have yet to
> see any information published in any of the futures industry magazines
> or Wall Street Journal. I guess mishandling $68 Million isn't the news
> that it used to be.
>
>
> http://www.intrust.com/civillit.htm
>
> Happy Trading!
>
|