Someone pinched me this...
July 21st 2008
Dear Valued Customers,
We write to you with our sincere apology and are mindful of the fact that for the last two (2)
months some of you patiently awaited encashment/margin gains and/or timely sent statements in
keeping with our way of operating.
Unfortunately, we have been facing a few challenges as a result of unexpected circumstances
involving our trader. Over the past two (2) years we have come to rely on the exceptional
reputation of the trader in providing and fulfilling us with eye-catching returns. However, as
noted in our Agreement, such a service does entail a degree of risk.
Due to the ongoing scrutiny and processes, not to mention a recent investigation against our
trader, our business has been impacted to a degree that has caused unforeseen delays in providing
you, our customers with the distribution of your gains and/or encashment. However, we have
received communication from the trader through his legal counsel, ensuring us that he is
committed to “fulfilling his obligations”, and will be making payments to customers within a
period of nine months. Additionally, it has come to our attention that there have been some
questionable accounting errors noted by the trader’s account payable and recordkeeping system,
which has also contributed to the lapse in payments.
Nonetheless, we are committed to continue working diligently and pursuing all measures to
accommodate you in an expeditious manner. Therefore, we ask that you allow us this
courtesy by giving us the time needed to achieve this goal. You have been more than
understanding, and we can appreciate your concerns. Our staff will continue to respond to your
concerns via phone/fax /email, as well as, keeping you apprised of any pertinent information
surrounding this situation involving the trader.
Thanks for your support and trust in SGL.
Respectfully,
SGL Management Team
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