F1 Investments addresses May Daisy issue

F1 investments who filed suit against May Daisy has now sought to advise its clients of what is happening. Here is a letter sent out to its clients.

Dear Clients

F1 Investments Inc. (F1) has, over the years, achieved good returns for its clients through Foreign Exchange Traders and entities who have had good trading discipline and have exercised capital preservation as a main investment strategy within the context of foreign exchange trading. In order to achieve this, F1 Investments has entered into contractual agreements with traders who trade the Funds of the clients of F1. As you may be aware, a number of these entities and individuals have come under the scrutiny of various regulatory bodies and some have had a number of issues in regards to the ability to return clients funds on request. F1 has sought to ensure that it remains able to encash and return clients’ funds at reasonably short notice.

F1 entered into a contractual relationship with Miss Ingrid Loiten of May Daisy Corporation, to perform some of the trading activities for an allotted portion of funds on behalf of our clients, and Miss Loiten has seemingly performed well in relation to her trading. In light of the challenges of the Industry and to ensure the protection of client’s funds, F1 re-structured its arrangements with its Traders and requested the funds held by Miss Loiten with a view to doing same. Miss Loiten has failed to comply with our requests for the transfer of funds, inclusive of gains made through her trading, within a reasonable timeframe and to date continues to hold the funds either in banks and/or on a trading platform.

In order to protect our client’s interests, F1 has initiated legal proceedings against Miss Loiten with a view to obtaining a court order to have the funds returned. F1 has engaged the services of United States legal counsel to assist in this process.

While it is with regret that we have had to take this action, our client’s interests are paramount and it is imperative that we take the necessary steps as outlined above. We continue to have very good results from our other traders and expect to continue on a path of good results for you our client. It is however possible that the impact of the action being taken against Miss Loiten and May Daisy Corporation could result for the first time in a delay in encashments were we to receive a large number of requests. We hope for a timely resolution to this matter, and we will continue to update you accordingly.

We continue to thank you for your support.

Yours truly,
F1 Investments Inc.

We will be presenting a breaking down of the counts as listed in the lawsuit filed by Steve Palmer and F1 investments soon.

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4 Responses

  1. This is MD Communigram

    Olint-for-life

    Greetings Dear Partner,

    CURRENT SITUATION
    We regret to inform you that there has been an unfortunate and unforeseen turn of events. Our Brokers are currently addressing compliance issues that are impacting our ability to meet our scheduled payments. Our legal team is working assiduously to resolve these issues and have advised us not to disclose any details due to the delicacy of the situation.

    We have therefore decided to temporarily suspend updating the cycles while we await further information that will help us to develop a clearer strategy on the way forward. Of utmost importance to us is our credibility and we recognize that this is closely linked to being able to keep any schedule we communicate to you. As we continue to monitor events, we will indicate when a breakthrough has been made. In the meantime, we will continue to keep the communication lines open with regular updates over the coming weeks.

    Below we seek to further clarify some of your most frequently asked and anticipated questions:
    1-When will the cycles be updated?
    As soon as the situation is resolved and we are able to proceed with the payments we will update the cycles.

    2-When will payments resume?
    Payments will resume as soon as the situation is resolved. We are unable to put a timeframe on this now but will keep you posted.

    3-I have an emergency situation and need some funds, can I be helped?
    At this time we are unable to process any payments at all. However once the situation is resolved we will place priority on these cases.

    4-Will gains be posted to the accounts?
    During this period of inactivity no gains can be awarded.

    5-Who has my money?
    All funds collected are in the custody of MayDaisy. All our members have access to our website; once your funds have been received, it is reflected on your account on the site, indicating that MayDaisy has full responsibility for those funds, which are then being traded. The Agent/ Representatives are not responsible for your funds once your account has been updated.

    6-My cheque was made payable to MayDaisy but I do not have access to the website?
    All our members have access to the website and we have no third party arrangements.

    7-Why does Maydaisy take so long to update us?
    Our practice has been to publish a monthly Communigram to our members. In light of your feedback though, we have decided to increase to a bi-weekly update.
    8-Why does the Communigram not include details like other clubs?
    Each club is poised differently and therefore can divulge different degrees of detail. We are guided by our legal team and seek always to protect our members as much as possible.

    1 John 4: 7-8
    Dear friends, let us love one another, for love comes from God. Everyone who loves has been born of God and knows God. Whoever does not love does not know God, because God is love.

  2. Read Item #4:

    “4-Will gains be posted to the accounts?
    During this period of inactivity no gains can be awarded.”

    Yet Olint was able to post agains during their period of DD….very interesting. Why?

  3. Dave read my post in “Olint Discussions with Hermes, Jason, NoCotec et al”.

    I think I have the answer there. I will post more in subsequent post.

    BTW.

    May Daisy ” good fi true”.

    Now that there is “real problem” May Daisy latches unto to it and give that as the reason why they cannot complete the payment cycle.
    This new situation just developed, while the cycle list should have been completed from in June.

    How convenient !!

    These folks are (have) taken their “loyal” investors for a big ride and treat them like a mushroom.

    (For those who dont know – the mushroom term means “keeping you in the dark and feed you pooh”)

  4. May Daisy

    If as you clearly state the money is in your custody….then pay it back

    DAMN TEIF!

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