Quote from: allyouracid on Today at 03:58:32 PM

Quote from: Qutays on November 30, 2024, 08:25:53 PM

They first said they would pay in the middle of the year, then they brought it forward to the end of the year, now they say early January, they are extending the process and extending it, when the commission gives an order, the escrow account is transferred by the commission staff within 1 day, this is the SEC rule,

The fund admin is an incompetent and slow-moving lawyer, unfortunately he is very unlucky in this regard, as I said, if you send an e-mail, they will realize their own mistakes and act faster.

I know people who calculate the payroll of 20,000 personnel in 3 days, they could not complete the same number of applications for years, despite being so slow, they receive 250 thousand dollars.

Re: or the problem is that they put the money on interest for 3-month periods, they cannot withdraw the money put on interest, this process will be completed at the end of December, so the escrow account will be accessible from January 1,

But in this case, it is very amateur, you are the unit that manages the big banks, if they are making this delay because of interest, I say kudos to you.

We can assume all kinds of things... that said, I'm not really familiar with the SEC and its inner workings. But if what you describe is considered normal, then I really wonder why they are somehow unable to do their work as they're expected to. I think I will compile yet another email, asking for the reasons for yet another delay. Tbh that is something I got really annoyed by: yes, you get replies to your emails written by an actual human, and yes, they "answer" your questions. But they always do it in a way which leaves this feeling that I know nothing new after reading. It's always the most general replies you can give, nothing concrete, no dates, no reasons, only "we have no updates, you will get notified if anything changes and we can't tell you when <thing I asked them> or <another thing I asked> is due." And no official updates whatsoever over very long periods. When I remember that their first email went straight to everybody's spam folder, I can only wonder...

I learn the update explanations from the SEC website,
They actually need to share these updates with us, for example, it is written on the SEC website that the payment approval was given on November 26.
But the fund manager is running the process very ridiculously, so I recommend that you constantly write complaint letters from the SEC website and e-mail.
The normal process will be completed in 10 business days next week, we should receive money next week, this order is written in the payment plan, I am waiting with curiosity to see what the fund manager will do.
The lawyer fee they charge is approximately 300,000 dollars, if they gave me half of it, I would complete these payments in 1 month, not 2 years.

https://www.sec.gov/enforcement-litigation/distributions-for-harmed-investors/matter-poloniex-llc-admin-proc-file-no-3-20455