Tradex Swiss AG

Tradex say they have won an injunction to keep clients funds which are in the Bank of America account in America, and not allow these funds to be sent to Switzerland. Thats probably good news as who knows where these funds would go if outside US soil. Who knows what the Swiss authorities would do.

Apparently the MD, Craig Karlis took legal action at great expense to protect clients money (we'll wait and see if this is really the case). The advice I have been given is we should all sit tight until court proceedings (in some court in Massechussetts which nobody will tell you exactly where it is)) are complete and that we will be advised as soon as there is anything to report.

I don't know about you, but I am getting increasingly pissed off and anxious as to whether will get my money back. There are no details whether the money which they say is blocked in the US is going to be paid back to investors, or used for some other purpose like pay their staff their entitlements. Sounds like with the freeze on funds since early July the business has no employees (can't pay them) and is effectively not there anymore. I can't be bothered checking recently as you always get some bullshit story. The proof in the pudding will be when we all get our money back. Sounds like there are quite a few people affected by this, so if anyone else knows anything please put it in this forum.

hummm thanks for update.. well my over 29 thousand $ is stuck over there.. and i amn't in good situation..
Pray to GOD is only one way to get back money.
I talked with Dana o Keffe. He is only one person who is giving updates regarding tradex from there Boston office. Now let's see what will happen..
They are still giving the same time frame 3 weeks and so on... even couple of week ago they gave the same time frame.
He told me that they are being investigate by Swiss Banking Comission.
I will contact with them tomorrow.
let's see what they wil tell.

From: Craig Karlis

Service address: 100 Franklin Street
Boston
Massachusetts
02110

To: All clients of Tradex Swiss AG

Date: 29 August 2007


Dear Clients

Re: "Hostile take-over" of Tradex Swiss AG (Boston office)

As most of you may be aware by now, Tradex Swiss AG is currently being investigated by the Swiss Federal Banking Commission (SFBC). This is not a criminal investigation but was ordered to determine whether Tradex Swiss AG needs a banking license in Switzerland to operate their business and structured products (please see the attached documents from the investigating trustees from Switzerland).
As a precautionary measure, your funds in the Bank of America account of Tradex were frozen on 3 July 2007, by the Swiss authorities in an effort to protect your interests. If protecting your money constitutes a "hostile take-over" as described in the e-mail from the Swiss Management, headed by Mr Nic M Jansen van Rensburg before the Swiss authorities took control of the company, then we are guilty. Since the "freeze" of your money the former management of the Boston office has initiated a suit in a Massachusetts court and obtained an injunction to protect your money - resulting in an injunction that prevents your funds being moved to Switzerland, as well as preventing Bank of America from dispensing any funds without the knowledge of all the parties involved. All legal expenses are solely financed by the previous management of the Boston office while the management in Switzerland has not paid its employees or other operating expenses (infra-structure) of the Boston office since June.

There was no "hostile take-over" by anyone in Boston and there are absolutely no direct or indirect relationship between Tradex Swiss AG and Boston Trading and Research LLC. The Swiss trustees were the ones who originally froze the account. I and the rest of the Boston management took the actions in court solely because they refused to inform any one in Boston as to the status of the accounts, and in fact would not communicate with us in any way. We have taken steps at our expense, to protect your interests and resolve your inconvenience, by getting your funds released and wired to you without delay.

To satisfy yourself about the true facts of the situation, you may consider obtaining concrete evidence/proof of the following from the Swiss Management:
· their efforts since 5 July 2007 to secure and get your money released,
· their response to your withdrawal request;
· the identity of their traders participating in their "capital guaranteed program";
· the opinion of the Swiss Federal Banking Commissions and other regulatory bodies about any guarantee of client funds, especially if it pertains to spot forex transactions (part of why the investigation was sanctioned);
· payroll details for the Boston office employees for July and August;

From myself and the former management of the Boston office of Tradex we can assure you of one thing only: We are doing everything within our power and the law to secure your funds in Bank of America and make sure it gets wired directly to you in terms of the Anti-money laundering regulations as soon as unfortunate matter is resolved. We have the "disadvantage" that we all live in Boston and have to make a living here.
From the attached documents it is clear that the Swiss trustees, appointed by the SFBC, are currently in control of Tradex Swiss AG for the duration of their investigation. If you have any queries feel free to contact any of the Swiss trustees at http://www.lawyerlutz.ch/english/kontakt/index.html or call them at Tel +41 44 560 8080 or Fax +41 44 560 8090 or e-mail to Peter Lutz [email protected] ; Romeo Da Rugna [email protected] ; Michael Bopp [email protected] .
Please accept our most sincere apology for the inconvenience caused by the continued transgressions of the SFBC prescriptions by the Swiss Management. In our opinion the best course of action would be to let the legal process, set in motion by myself and the Boston management, continue uninterrupted. I undertake to keep you up to date of any new developments or progress concerning our legal process against the Bank of America and Tradex Swiss AG.
Yours Sincerely


Craig Karlis

Info-Tradex-clients-II-2007-09-03.doc

Memorandum

Mandate

: SFBC / Tradex and Swiss Garant

Subject

: Further information to clients of Tradex Swiss AG
to: Clients of Tradex Swiss AG / file
from: Dr Peter Lutz and Romeo Da Rugna
Date: 3 September 2007

Dear Madam, dear Sir,
we have informed earlier that the Swiss Federal Banking Commission (SFBC) has opened an
investigation on Tradex Swiss AG ("Tradex"). The purpose of such investigation is to verify,
whether the company has been conducting financial activities without the necessary homecountry
licence. The SFBC terminated the signatory power of the former signatories of
Tradex and appointed the undersigned Dr Peter Lutz and Romeo Da Rugna to carry out the
investigation on behalf of the SFBC. The SFBC granted Dr Peter Lutz and Romeo Da Rugna
the exclusive authority, with sole signatory power, to represent and act on behalf of Tradex.
Further to our former information we can give you the following update about the pending investigation:
We are at the moment not in a position to complete our investigation since part of the management
of Tradex refuses to cooperate with the undersigned and do not deliver requested information
and documents in a complete and timely manner.
A part of the management of Tradex even filed a complaint against Tradex in Boston USA.
Tradex therefore had to employ US counsel in order to defend this complaint which is seriously
obstructing and delaying the pending investigation.
Without the complete information and documentation about all assets and liabilities of
Tradex, we are not able to determine which clients and/or creditors have legitimate claims towards
Tradex. Therefore, lacking this information and documentation, we can not find out,
and we consequently can not exclude, whether there is any risk of preferential treatment of
creditors if now payments are made to individual clients and/or creditors.
Until we do not have a complete overview on all of Tradex' assets and liabilities, we are therefore
not in a position to make any transfer to clients and/or creditors of Tradex.

We finally would like to inform that none of the messages which have been sent since 3 July
2007 by the management of Tradex have been authorised by the undersigned. Such messages
and information therefore do not reflect the opinion of the undersigned.
As soon as the investigation will be completed, you will receive further information.

Yours sincerely

(sent without signature)

D

R PETER LUTZ AND ROMEO DA RUGNA

Investigators appointed by the Swiss Federal Banking Commission

Answer to PM

You have to ask your embassy to help to give you a address to file your Betreibungs against Tradex.
When you do that, tradex will have to say they have your money or not. If they do, the betreibungsamt will proceed to make them pay. With that papaer you could also prove you are a creditor

Listen!!! I won't sign for anyone. Neither give my address for postal reasons.
here is your Embassy
KonsulatAmbassade du Pakistan


Bernastrasse 47, 3005 Bern/BE
031 352 29 92 German

Internationale OrganisationMissions permanentes du Pakistan


Rue de Moillebeau 56, 1209 Genève/GE
022 734 77 60 French

If you want to professional assitance.
Google Inkasso switzerland.
You can discuss and ask there for the cost

I am the client of Tradex Boston Office too. The money is frozen in BoA. Do you any thought about what action we should take to protect our money? I am very anxious and pissed off.

I got an undated news. The money went to Tradex Swiss AG. But their boston office is empty now. Do you know how to contact them to withdraw the money.
One group of canadian customers hired an attorney to represent them in court. They got their money secured and won the battle. I am thinking to get lawyer's help as well. Do you have interest?

I am a Canadian Customer and interested to get help.

Hello Dear Tradex Fellows,
Yes i am interested to hire a lawyer to get our money back.
I e-mail yesterday to Tradex. I got a responde from them.
====================================================
Dear Mr Hassan,

The websites are up and running to inform clients about the progress
that has been made. The SFBC fired key personnel in Boston and we
have to keep our clients informed.

Tradex Swiss AG is NOT closing down. We had an investigation and we
expect the investigation to be completed in the next couple of days.

We will keep you updated.

Yours sincerely,



Nicolaas Jansen van Rensburg
Director
Forex

Mobile: +41-79-409-5505
E-Mail: [email protected]
------------------------------------------------------------------------
What a drama is going on..
Happydayone what's image is in your mind now.?
I am also confuse that if Tradex is coming back so we wil have our funds. In this case we don't need to CASE on them. What you think?
Have you contacted with trustess?.

get an attorney to help

I am also a victim of this train wreck at Tradex Swiss AG. I would like to get my money back and am willing to do what it takes. I am confused though, is our money in Boston, or Switzerland? Also unless the company is going under ( is it) we have nothing to worry about. The other thing that is very strange is that the platform is still up and running, and still shows my account balance. I guess I am not sure how worried to be. I just wish someone would tell me if I have lost my money and I need to move on or if I still have a fighting chance.

I have talked with Mr Nick. He told me that funds are under SFBC. But They have Meeting with SFBC chairman on monday and they will proff that if they have broken Law so all other FX companies are also breaking the same Law.
So they are expecting that every thing wil come normal in upcoming week...
Let's see
PTTRADER ( Money isn't lost yet. We can fight for it to get back. Kindly Send me your Skype or MSN ID. So we can commounicate further)
...............
I noted one more thing that they have uploaded new website and in latest news area.

News

* Alternate Trading Platform available soon.

* Enhancements to our existing MetaTrader 4 System.


I don't know what's drama is going on.. I think we wil have final results on monday. If they come back or not.. If not then we will case on them to claim our money.

okay here is copy of what i wrote to MR Nick and what he answered me.
I Wrote

Hello Sir,
I have been in commounication with you by Phone. But due to my poor english and Voice breaking problem i was unable to hear you clearly and suddenly Call went Disconnect.
I do have few questions.I heard that Money in Bank Of America was Frozen by SFBC and now i heard that money has unlocked.. Is it true? If it's true then how can i recover my funds?. Trustess have closed Boston Office. Boston office was only one source of contact with your company. Now who is answer able in regard of our funds which are in BoA.?.. Do you Hold funds or Those new trustess have control on them?.If money has unlocked so why they aren't proceeding my Withdrawal Request, which i had submited in AUG.
Thank youHammad Hassan

His Answer

Dear Shahmir,


Your English was actually good. I understood exactly what you wanted to say. In any case I cannot even say 2 words in Arabic.

With reference to your enquiry I can confirm that the funds in BoA were released. It should however be understood that the Swiss Federal Banking Commission is still busy with their investigation and we expect an report this week.

Until the investigation is complete I cannot send or authorise any payments to clients. I am sorry for this but I have absolutely no control over the process.

Sorry for any inconvenience caused.

Yours sincerely,

Nicolaas Jansen van Rensburg
-----------------------------------------------------------------

Let's see what will happen next week. I am mently Ready for case. 1st we will have to trace money and then we will need to consult with laywer that in which jurisdiction we should sumbit our case. In Switzerland or in USA.
So many questions and we need to workout on them.

SENT ON THU. SEP 13
Mr van Rensburg

We keep hearing stories from yourself and Craig Karlis about this so called investigation and cannot get any sense out of the Swiss investigators-they just won't answer any questions we ask of them.

If you are legitimate in what you say you will be able to answer the following question... WHEN can we withdraw our funds from the Tradex BOA account OR WHEREVER THE HELL OUR MONEY IS AT THE MOMENT??? NO OTHER STORY OR EXCUSE MATTERS. Everybody who has funds tied up with your company JUST WANTS TO KNOW WHEN THEY CAN GET THEIR MONEY OUT!!

Please advise as soon as possible.

AS OF SUNDAY SEP. 16... STILL NO REPLY. You think Mr Nick was genuine he would move mountains to re-assure or communicate with people who have put their hard earned cash into HIS ACCOUNT.

Further to the msg posted by FF

Mr Rensberg....

Please can you let us all know the proceedure for withdrawing our cash when the investigation is complete... Which form do we use and where to send it ... do we fax/fedex/email or dispatch by messenger pigeon.... ?????

Please can we have some straight annswers to some very simple questions

Thanks

I have tried and tried to get the lawyers representing Tradex Swiss AG to simply tell me they still have my withdrawal form. I can not even get anyone to email me back. Has anyone talked to michael bopp or any of his colleagues. If so what are they saying. Is the money in the US or in Switzerland?

We have just received word from the SFBC that Tradex has reopened the website and trading terminal without authorization and the investigation is still pending.

Boston office has gone cold all of a sudden with nothing coming forth from them.

Can anyone tell me whats happening with the Tradex Boston office and any of their older personel working there still??

Also Hammad, please pm me if we can collaborate as the situation does not look like getting a clean ending. I can send some one to Swiss if required.

Regards

Info-Tradex-clients-III-2007-09-17a.doc

M

EMORANDUM III

Mandate

: SFBC / Tradex and Swiss Garant

Subject

: Further information to clients of Tradex Swiss AG
to: Clients of Tradex Swiss AG / file
from: Dr Peter Lutz and Romeo Da Rugna
Date: 17 September 2007

Dear Madam, dear Sir,
further to our second information memorandum of 3 September 2007, we
should like to inform as follows:
The Court in Boston has in the meantime released most of the funds in the Boston
accounts from the first temporary injunction decreed earlier. However, today
we have learned that there has been filed a further claim in Boston which resulted
in a further injunction freezing again the assets in Boston. This delays the
pending investigation and the endeavours of the undersigned to obtain control
over all the funds of Tradex worldwide further on.
We have been informed by several clients of Tradex that the management of
Tradex seems to have re-opened websites with access to a trading platform
(www.tradexfx.com and www.tradexswiss.com), as it seems, with different appearances
and templates. Please note that this has not been authorised by the
undersigned and is therefore in violation of the decree of the Swiss Federal
Banking Commission.
As soon as the investigation will be completed, you will receive further information
from us. Please understand that it is not possible to individually answer
every single question and email, since Tradex has more than 1'300 clients; thank
you.
Yours sincerely

(sent without signature)

D

R PETER LUTZ AND ROMEO DA RUGNA

Investigators appointed by the Swiss Federal Banking Commission

Dr. Peter Lutz LL.M.
Lic.iur. Romeo Da Rugna
Dr. Stefan H. Schalch LL.M.
Lic.iur. Thomas Reimann
Dr. Jörg Witmer LL.M.
Lic.iur. Rolf Kuhn LL.M.
Lic.iur. Irène Biber
Lic.iur.
Christopher Tillman LL.M.
Lic.iur. Julien Veyrassat
PD Dr. Sabine Kilgus LL.M.
Lic.iur. Michael Bopp
Dr. Christian Christen LL.M.
Forchstrasse 2 • Kreuzplatz
Postfach
CH-8032 Zürich
Switzerland
Phone +41-44-560 80 80
Fax +41-44-560 80 90
[email protected]
registered
with the attorneys' register

Hope you guys have received an e-mail from Mr Nicloaas M. Jansen van Rensburg
President of the Board of Tradex Swiss AG..
What you guys thing about it?.

Hammad:

How is the Tradex Swiss AG now?