Official Response on behalf of Training Traders
Dear Mr Steel & Mr Baghdady
Thank you for your usual mellifluous and fact-free response to the many questions that have been asked on this forum. There have been many allegations made about Mike Baghdady and Training Traders, yet very few of them are being addressed – in spite of your carefully worded document (I suspect a lawyer was involved).
Not only have you miserably failed to answer the questions but you have the audacity to try to deflect the questioning by making unfounded allegations against your former staff. I’m sorry to hear about your claim that someone has defaced your building. I know that you have had significant turnover of staff for a small company in the last year; there have been 2 Directors (COO and Head Trainer), 2 Sales Managers, 1 Accountant, 1 Marketing Manager and 1 Receptionist who have all resigned or been summarily removed from their posts. Therefore you have directly pointed the finger of suspicion at a small number of people and these unsubstantiated allegations by you mention a criminal activity. A very serious allegation of this nature should surely be made to the police (backed up by your alleged CCTV evidence). Making serious criminal allegations of this nature can have very serious consequences for everyone you have clearly identified. Would you care to name the ex-staff member publicly so that the reputations of the other ex-members of staff are not being dragged into the mire? It is only fair that you back up these very serious allegations with evidence and fact – something that is upsettingly absent from your postings. I ask for the name of the rival company that is resorting to such underhand tactics to take away your esteemed clientele. You have repeatedly stated on this forum that the allegations made against you are unfounded (but you never disprove them), yet you are making a serious criminal allegation on a forum. That's a large dose of double-standards Mr Steel, which is why I’m certain you’ll be keen to provide some evidence or turn this matter into a criminal investigation by the police.
I’d also like to thank you for the offer to come to your offices. As I said on my very first post here, I have been to your office. It was not a nice experience
Thank you for letting us know that Ben Tuckey was, indeed, a fund manager for Alpine Capital. PBoyles has already shown that Alpine Capital Management was dormant, having been inactive since 2004 And given that his SFA registration expired in 2004, how on earth could he have been managing a fund? It seems as though Mr Ben Tuckey is as abusive of the truth as you are to suit your company’s needs. You still haven’t addressed the issue of using Ben & his brother Joe in your Bloomberg adverts under false pretences. Can you please tell me which institutions Joe Tuckey has traded for?
On the very subject of the Bloomberg TV advert I have some interesting information to impart. Having been alerted to the dubious nature of the claims made in your advert, Bloomberg decided to withdraw the advert. Not only did the broadcaster pull the advert, but following complaints, it was subject to an investigation by ASA (Advertising Standards Authority). The advert was never broadcast again following its removal by Bloomberg. Can you please enlighten us about the outcome of ASA’s investigation?
You say in typical woolly fashion (ie without substance) that ‘There have been a number of unsubstantiated and untrue allegations posted on this and other similar forums some of which have been removed. These posts are libellous’. Again, I ask you – which posts are you talking about? PLEASE provide some information so that we can address your obvious distress. I don’t want you to be unhappy Mr Steel in your capacity as Mike Baghdady’s official spokesman. These are another range of very serious allegations but, once again, you offer no details. You simply cannot post unsubstantiated allegations on this forum whilst simultaneously making them yourself. Your hypocrisy is breathtaking.
World of Trading Champion. We know that the title of the conference was called World of Trading and there was a competition that lasted for a short period that Mike Baghdady won. That has NEVER been disputed. What we’ve been questioning is the fact that Mike Baghdady spun gallant victory into ‘World Champion’. There is (ahem) a world of difference. The first line of his biography on the TT website says he ‘won the Frankfurt World of Trading Championship last year’. If I won a competition organised by World of Leather, I would never claim I was a World Champion of Leather. The conference was called World of Trading and the German producer of the show was very unhappy with Mike Baghdady for attempting to abuse his win at the competition for commercial gain. Mr Baghdady was not invited back the following year. As PBoyles has pointed out, Mike Baghdady is not even mentioned on their website. Look at the video that Malcolm Steel posted. Does that look like a World Championship event? No, I thought not.
There are still many questions outstanding that you seem reluctant to give answers to....
1. The absence of trading income matter.
2. The repeated visits of bailiffs.
3. The media blacklist.
4. The status of Ben & Joe Tuckey in the Bloomberg adverts- SFA-registered hedge fund trader (Ben) institutional trader (Joe) or employee?
5. The capital given to the "turtles"
6. The recent USA crash Mr Steel talked about in a previous post
7. Your client list of institutional banks and the nature of services provided them.
8. The "world's foremost expert" claim.
9. The NFA registration conundrum. How could Mike Baghdady be trading at NYBOT without being registered with the NFA?