, their clients lost their money ?
I got my money from Refco with roughly two weeks to spare.
The lesson I learned from this is do NOT keep a lot of money on deposit with any broker.
Foreign brokers may be guaranteed, but US brokers aren't.
The bankruptcy courts also have ruled that client's accounts are a part of their brokers assets. They go down when the broker goes down.
Just keep your fingers crossed and hope that another brokerage company buys the former brokers client list as they have attempted to do in the past.
So far that seems to be the situation w/ refcofx
I am aware of a few penny about the premiums but everyone I know has been shit out of luck.