Incredible post about a Terra Nova branch that is accused of fraud??
Shoot, you are not alone, bigger buying power problems than yours apparently happen in other Terra Nova branch offices? Their web page looks like they are out of business:
192.41.54.166
Thanks for everyone's private posts. Anyone with insights into delays they have had with ARCA and comments about Terra Nova please keep those those private posts coming!
This was posted on November 23rd on the following thread
Talk : Short-Term: Townsend Analytics, Terra Nova, and the Archipelago ECN
To: Mack (0 )
From: EEL
Monday, Nov 23 1998 7:59PM ET
Reply # of 1
I used to trade at Day Trade Technologies in Seattle, Wa. They were a division of Terra Nova. The company is soon to go out of bussiness. They had this woman named Melissa who was having an affair with the married owner David , who was taking money out of everyones account and putting it into a few select indidvuals accounts so
that they could hold over nite trades. I came in one morning to find that I had no buying power, and she told me that she mistakenly took it out of my account,(along with every one elses account in the room.)??? I called Terra Nova and they said that I had signed
for the authorization and transfer of funds, which I had not! They also used $200,000 of another individual(chinese woman's) money and promised to pay her back with interest.
To my knowledge nothing was done about it. I quit trading there September 1997.
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