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I’ll still be calling him, but here’s his official reply on HYIPDiscussion. From what I understand he has someone to helped him with the translations as well.
First of all I would like to ask for your forgiveness for the long period without an official announcement from me. I read your posts every week, with a lot of sadness, all the comments posted here, and whether or not you want to believe it, I feel as badly as you all do. I noticed that with each post I wrote here, the impatience of some of you grew, when the objective was to actually calm you down. A lot of you don’t even believe that it is really me (Marcos) posting here under the fx-experts user name.
I want to tell you that pressure will not bring your money back, much to the contrary, it will only fill me with further anguish, which will only further delay the whole process. On the other hand, I understand your fear that I will just disappear. Because of this I want you all to revive your trust in me as you once had and know that I still continue, and will continue to work and giving my best for you all. I haven’t done anything else other than try to recover the loss of around 80% of our main account, which contained about 70% of total funds invested.
I hope that nobody here invested more than they could afford to lose or risk, since we all know that this is a basic rule that any conscientious investor knows. If it brings you any comfort, know that we are in this situation together because I also lost a lot of my personal money in this. I also want you all to know that nobody has received any type of refund yet, not even my own mother, who had about $18K invested.
As everyone knows, the loss was very big, and now is not the time to cry about it. All we have to do is work. I, Marcos, am working on a total or partial recovery of this big loss. And you, unfortunately also find yourselves in a situation where you need to work, on your patience. Initially we had a super scalp that would give us the opportunity to recover the loss in 1 or 2 months. The same is still found, in a construction stage and adaptation to the conditions offered by the broker. Meanwhile, we are operating with very low risk. To date, we were able to gain approximately 7% on the initial deposit on the account. Once again I repeat that patience will be necessary. Without patience things could get worse. We know that slowly we can go far.
I ask for your comprehension and collaboration. I know that some of you here will be on my side, others will be questioning and yet others will be bothering, nobody is alike. But I hope that you all understand that collaboration on your part will be of much help.
I understand I was absent for a long while and will make sure to always come here, even if just to say “we’re still alive and working”, until this situation reaches a comfortable level for a happy ending for us all.
Sincerely,
Marcos Matos
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It’s sad that this happend, i’m confident enough that marcos will recover a part or more of our deposits. Honesty pay’s!!!!!!!! sometimes it takes a bit longer then most of us want it to take. Just bad luck for us. But i’d like to say to Marcos there comes a day it will pay off in favour of you. Good luck!!!
Small mathematical observations…
They lost 80% of the main account… So that would mean they have 20% left.
Then they already regained 7% of the total INITIAL deposit. So they made a total of around 30% of what the remaining funds were.
Losing 80% is one thing, but gaining it back is another. You would have to actually gain 500% of what was left. I repeat, you’re not going to need to gain 80% in the few months that you’re asking, you’re going to need to double up the account, then double up again, then get another 25% of that account in order to be back to 100% of initial.
Good observation Chris. You are missing something though:
80% of the funds were lost in an account that held 70% of the total funds, not 80% of the whole funds. This means that at least the remaining 30% was supposedly safe.
Now the 20% saved from the debacle represents a 14% of the total funds, which means FXE was actually down to (30+14 = ) 44% of the break even point when they were put on hold on 1st Sept.
Then we are told that they gained back a 7%. It’s not clear whether it is a 7% of the total funds or a 7% of the remaining funds. Either way, the best guess is that we are about half way of a full recovery.
As you correctly point out, this means a 200% gain or more needs to be made on the remaining funds to be back to the break even point. Still a long road…