pipsplease
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Mike Baghdady - should I take a course or not?
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The Leopard
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I must start this post by saying that I am not an expert in English law, much less US law. But it seems to me that the trouble of this court case was entirely self-inflicted.
Baghdady opened an account giving false information. He then suffered trading losses and margin was requested. Leave aside the fact that a massive margin call was issued within a month for the moment, although that in itself is potentially quite instructive for the due diligence crowd.
Robbins acted properly, speaking to him several times, requesting only a portion of the margin required. When this was not forthcoming, they closed him out in accordance with their terms and universal (and universally accepted) procedure.
But Baghdady actually brought the case against Robbins, not the other way round. He is the plaintiff, not the defendant. Robbins counter-sued (if that is the right term) making them the defendant and counter-plaintiff.
In other words, this whole mess, and all the revelations stemming from it (such as the no trading income declared etc etc) seems to have come about because instead of settling the bill he tried to sue his broker.
Is this reading of the circumstances correct?
Baghdady opened an account giving false information. He then suffered trading losses and margin was requested. Leave aside the fact that a massive margin call was issued within a month for the moment, although that in itself is potentially quite instructive for the due diligence crowd.
Robbins acted properly, speaking to him several times, requesting only a portion of the margin required. When this was not forthcoming, they closed him out in accordance with their terms and universal (and universally accepted) procedure.
But Baghdady actually brought the case against Robbins, not the other way round. He is the plaintiff, not the defendant. Robbins counter-sued (if that is the right term) making them the defendant and counter-plaintiff.
In other words, this whole mess, and all the revelations stemming from it (such as the no trading income declared etc etc) seems to have come about because instead of settling the bill he tried to sue his broker.
Is this reading of the circumstances correct?
pipsplease
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But when did otto9586 pay for his course? It could have been some time ago.
Thanks pboyles, any help would be gratefully appriciated.
I paid for my course mid december 2011.
Late 2011 he said
That's right Baghdady started the entire legal action circus.
Were they called Training Traders then? Did you get an invoice or receipt with the company name?
alphadude
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during Baghdady's saga with Robbins; he discovered how stupid the legal system is; together with its judge poopies. He is now thinking; gee i can do whatever I want and just declare bankrupt when pressure builds up.
to him everybody else is moron, rat or a coachroach; and deserves slapping from time to time. where else can he release his frustrations.
on top of that; some turtles pay him 50K per head to be a moron. :clap::clap::clap:
with a simple email; he threatens t2w; babypips and everybody else. It worked for him until now.
pipsplease
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I guess otto9586 and others are in the same position. This means that Baghdady owes clients money as well as many others. It just gets worse by the day.
He is out there solicting £18 for trade planning sessions whilst not fulfilling his obligations to those he has already taken £0000's from.
I cannot find the words to describe him without descending into obscenities.
Maybe The Leopard can articulate it for me??
pipsplease
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If you paid by credit card you may be able to get a refund from the card issuer.
Contact them immediately.
wackypete2
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Yes i have an invoice from them.
They were called Training Traders as per invoice letterhead.
alphadude
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Guys; you will like this
attached is Baghdady's resume while living in NY. He worked as English/Arabic translator at various court hearings. no wonder he learned a bit about court actions and bankrupcy laws.
you can get the original doco from this link:
cdn4.proz.com/profile_resources/045161_r3fc2473e2b067.doc
attached is Baghdady's resume while living in NY. He worked as English/Arabic translator at various court hearings. no wonder he learned a bit about court actions and bankrupcy laws.
you can get the original doco from this link:
cdn4.proz.com/profile_resources/045161_r3fc2473e2b067.doc
Did you pay by credit card?
No, paid in cash!
Dont underestimate the effect pulling the ad would have had, the business would have factored in expected income from course sales with the level of advertising it had attempted and due to the myopic approach of the owner, MB, was unable and unwilling to scale down its operations. The flow on effect led to turtle underfunding, attempting to integrate paid turtles, accusations, blaming, fights, walk outs, ill supported software...
I suppose what you're saying is that I didn't completely waste my time then.
He totally stitched you up, these type of companies do this all the time because it means distance selling rules don't apply and you have no support from a credit card company. The better news is that they are still trading so in theory you could take them to a small claims court. However if you believe everything written here there are plenty of others chasing them for money.
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