FxActive Liquidation
The popular FxActive trading platform has been closed down now for more than a month. The very reason the company was created (to facilitate trading) now no longer exists. I know there are many traders in South Africa and other parts of the world who would like some clarity on the affairs of the company.
The sister company JICM was placed into liquidation about 6 months ago. I have been approached by a number of traders and investors to initiate liquidation proceedings against FxActive due to my large trading account with the company.
It is apparent that no single individual is prepared to throw good money after bad by incurring further substantial costs in an effort to recover their funds. In light of these requests I have approached a number of investors and traders involved with FxActive to initiate liquidation proceedings against FxActive via a class action.
After lengthy discussions with attorneys we have been provided with a cost to bring an urgent liquidation application before the court. To date I have pledges from investors and traders for half of the amount necessary to lodge the application.
Obviously the Idea of the class action is to limit the cost for each individual involved. I know that there are hundreds of traders out there who would like to participate but cannot do so on their own.
The popular FxActive trading platform has been closed down now for more than a month. The very reason the company was created (to facilitate trading) now no longer exists. I know there are many traders in South Africa and other parts of the world who would like some clarity on the affairs of the company.
The sister company JICM was placed into liquidation about 6 months ago. I have been approached by a number of traders and investors to initiate liquidation proceedings against FxActive due to my large trading account with the company.
It is apparent that no single individual is prepared to throw good money after bad by incurring further substantial costs in an effort to recover their funds. In light of these requests I have approached a number of investors and traders involved with FxActive to initiate liquidation proceedings against FxActive via a class action.
After lengthy discussions with attorneys we have been provided with a cost to bring an urgent liquidation application before the court. To date I have pledges from investors and traders for half of the amount necessary to lodge the application.
Obviously the Idea of the class action is to limit the cost for each individual involved. I know that there are hundreds of traders out there who would like to participate but cannot do so on their own.
This therefore is an invitation to contact me via my email feed or comments to participate in the process. At the moment the estimated cost per participant is R800. I am certain though that if we can get another thirty or fourty people involved this amount will be halved.
All the funds will go directly into the attorneys trust account to lodge a security bond with the high court necessary to institute the proceedings.
Obviously there are no guarantees as to the percentage of investors funds individuals will be recover once the process is complete.
The current status is that the company still has offices and staff and for all intents and purposes are pretending to be a going concern. Traders however are not able to trade on the platform. These costs have to be met each month and I can only speculate that investors funds are being used to fund this sinking ship.
As the JICM liquidation process is well advanced, the close ties between the two companies could result in the liquidators of JICM seizing the assets of FxActive as well. This would leave little or nothing for FxActive traders and investors to claim at a later date. We will therefore endeavour to have the same liquidator appointed to handle the Fxactive liquidation in order to ensure an equitable distribution of funds.
Many might also be aware of criminal proceedings being handled both by the National Prosecuting Authority (Instructed by the Financial Services Board) Contact Connie Bakkes Special Senior Investigator on +27(0)12 842 1400 / 1445 and the Commercial Crimes Unit (private initiative) These actions are designed to prosecute should any illegal activities or fraud have taken place, not necessarily recover clients funds.
As you are also aware it is near impossible to contact the company or CEO either telephonically or via email to get the answers we need.
If you would like to participate in this process then please contact me as a matter of urgency to expedite this matter. Your details will not be published or used for any purpose other than to expedite the Liquidation process
12 comments:
My God this is truely pathetic!
According to comments on MoneyWeb
http://www.moneyweb.co.za/mw/view/mw/en/page91?oid=167061&sn=Detail this guy Hefer actually walked away with millions of investors money, where is the Scorpions now??
Why does this smells of the same shit as MTI (old Forex Trader SA)which were based in Kempton Park.
This Van Niekerk guy just closed down his Forex operation, did not even pay his own staff including family members that worked for him, and disappeared into thin air!! No arrests, no nothing!
There is something drastically wrong with Forex Trading in South Africa. People are stealing money left, right and center and are getting away with it!
Something must be done about this and these guys must be brought to Book!
Go Traderman GO! BRING THIS ARSEHOLE TO BOOK!!
I wish I knew more about this Forex thingy. Looked like it's very easy to make money with this Forex thing, and get away from the law to spent the money made. Is it always like that? Now, that's interesting...
Greetings and lots of love from Malaysia.
fxACTIVE staff & management should all be burnt at the stake; they willingly accepted more deposits even though they knew they were sinking the ship. We must grind them for every cent they own, and lock them up as well
Does anybody know the personal address & telephone number of this excuse for a business man that owns FX Active?
its ridiculous
Fx active ,Tim Heifer and Aileen Dhooge are thieves.
they accepted money when they knew they had liquidity issues
they lie straight to your face
they should be sentenced and punished for their crime of theft.
they have caused me endlees hassless and Im sure many others...
Im still incurring financial charges due to their crookedness.
they should not be able to get away with this
anybody heard of a broker called Wayne Van Zeidel (or something of that sorts) and where I can get hold of him - yes I was taken as well - but then I was said to have invetsed in the JICM capital fund range - what nonsense - yes met at Tim Hefer and Derek Crookes at his offices seemed well run and I would never have thought it wass part of the same scam
RS I can't say I have heard of any brokers by that name but maybe someone reads the article and knows the person.
People like them should be hung in the center of the town for everyone to watch. They need to be humiliated some way or another. I hope everything works out for all the investors.
I don't see how people can accuse Aileen for accepting funds while knowing what's going on. She was misled by Tim Hefer and was the only person that was assisting us brokers to get results and information. She deserves a medal for doing what she did for no pay!!!!
Clearly you are the one that has been misled AND BY AILEEN - she got far far more than pay for her share in this story. Huge pay, huge bonusses plus much more. She is a very clever "little" girl.
Obviously I cannot speculate on things I have no knowledge of or make unfounded accusations. I only publish the comments left by my readers and everyone has a right of reply.
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