What about the Ponzi scheme that CMKX shareholders have been going through ? The banks have allowed for 100-200 accounts to be created to launder our money away, brokers never thought it was strange for billions of shares to be sold daily, SEC had no clue what was going on as their system was down for who knows how long and yet we are not entitled to the same treatment to recover our money from the investor protection group ? Millions of dollars are missing and thousands of investors still have no clue where their money is.
Yet we have the below and they are frustrated (we're not?):
They also say they are frustrated by the refund process from an investor protection group compensating customers up to $500,000 each. Some complain the system for calculating losses is arbitrary. Others say they are unjustly shut out of any refunds because they invested through third parties.
The trustee helping to oversee the recovery of assets has said that reconstructing client accounts has been complex and that he is trying to deal with the claims fairly.
Many victims also are frustrated they are viewed as elites who greedily sought out Madoff without asking tough questions about his operation, said Ilene Kent, a New York woman whose parents lost their savings.
