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BHUB .0002x..0003 R/M Lotto Ticket!
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[QUOTE]Originally posted by SherriT: [QB] Well, I just got another e-mail from ChoiceTrade that indicates no time frame at all for resolution. Time for the letters to congressmen and senators...here is mine (and I am including a copy of the most recent e-mail): ************************************************** Dear Honorable Senator Blah Blah Blah: Sir, I hope this letter finds you well. I wanted to contact you regarding a securities issue that is affecting many citizens across the country. BigHub.com (BHUB) has been the victim of fraud in that an unrelated party (including but not limited to Select American Transfer) filed papers which effectively introduced fraudulent shares into the market. In doing so, trading occurred for several days on these shares, and the result has been a trading halt which went into effect on Thursday, April 12, 2007. While I sympathize with those investors left holding worthless shares, my concern is related to the settlement of trades which occurred in the days just before the halt. Upon opening my brokerage account on the morning of Monday, April 16, 2007, I discovered that my account was missing over one thousand dollars. Naturally, I contacted the broker to correct the mistake. At that time, I learned that Penson Financial Services was unable to settle the trades that occurred on Wednesday, April 11, 2007, due to a global lock placed on the security by the DTC, Depository Trust Company. I understand that crimes of this nature often take some time to straighten out, however, in my opinion, if the security was traded at all, those trades have to be settled in the appropriate time frame of three business days. At this moment, I have neither the cash nor the shares showing in my account. The shares were sold, implying another individual or entity bought them, and as such, I am entitled to the proceeds of that transaction. The fact that my broker (ChoiceTrade) cannot credit my funds is preventing me from doing any further trading using that capital, which I use to generate income for my family, and it also caused me to liquidate other securities which I bought with the BHUB proceeds prior to the settlement. In short, my complaint is simply that there should be a rule in place, if not already, that prevents a lock on settlement of trades. Any assistance you can provide in the form of legislation to protect future victims, or pressure that can be brought to bear upon the DTC to settle those trades occurring prior to the halt would be most appreciated. For your reference, I am enclosing the latest e-mail I have received from ChoiceTrade regarding this issue. Sincerely, Me [/QB][/QUOTE]
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