Last edited Sun Mar 4, 2012, 10:57 PM - Edit history (1)
I received that same message back in November. Just last Friday I personally spoke with a representative of Mr J Corzine whom works for Goldman Sachs, with an office at 33 Liberty St. in NYC.
I was a little slow getting $1.1M letter of credit to cover the standard SEC claim forms, but I was assured I would still receive the entire 60% commission. The delay was due to the insistence on the part of JPM that my collateral (which is gold bullion) had to be delivered to their Harlem warehouse before they would issue the credit. Although I assured them that I had 4X the $1.1M in safe storage, they insisted on holding the physical bricks themselves.
My gold was in storage with HSBC and somehow it got comingled with their bullion. It took a while to track down enough bricks to cover JPMs required collateral. HSBC has assured me that the rest of the lot which was mistakenly leased to an outfit by the name of MF Global is due back into their facility by April 1st or the CDS will trigger on the default.
There is no doubt that I will be in touch with my legal advisor at Likker, Dikher & Wrun in the morning.