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Thursday, January 15, 2009 9:25:46 PM
Some investors here used to wonder, why stock price of REELTIME have not gone UP eventhought serious buys(stock purchases) were made. Big buys as well as buy orders placed had no effect on price. Well the mystery has been solved:simply the trades were never registered neither the purchases made by OUR BROKERS. Etrade,BOA,ML have never bothered to actually place the orders eventhought the statments to their customers were sent every month showing purchased equities. READ BELOW -does this look familiar ?????
http://www.reuters.com/article/newsOne/idUSTRE50F0BY20090116
Madoff's fund may not have made a single trade
By Jason Szep
BOSTON (Reuters) - Bernie Madoff's investment fund may never have executed a single trade, industry officials say, suggesting detailed statements mailed to investors each month may have been an elaborate mirage in a $50 billion fraud.
An industry-run regulator for brokerage firms said on Thursday there was no record of Madoff's investment fund placing trades through his brokerage operation.
That means Madoff either placed trades through other brokerage firms, a move industry officials consider unlikely, or he was not executing trades at all.
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