At this moment, it does not look like we will be able to file a lawsuit against GNTFX as planned. I have contacted the law firm to confirm exactly where our $20,000 retainer would take us.
The retainer required by the law firm covers an investigation of exactly what happened and then an opinion on the best course of action to take once an investigation is complete. The actual final cost of such a lawsuit would most probably be in the $50,000,to $70,000 price range.
Considering the fact that the majority of GNTFX clients lost their nest eggs, it is not feasible to follow through with this lawsuit.
A number of us have been working to resolve this problem and we are presently looking for a law firm that will take this case on a contingency basis for a percentage of recovered funds. Such firms usually require a reimbursement for expenses, but this cost would be affordable. If we don’t find one, that will probably be the end and GNTFX will get away with it.
On a very interesting note, I was sent this link regarding a Belize government caution notice. Take a look …
Once you have taken a look at the website, take a look at the documents provided by GNTFX to anyone looking to do their due diligence:
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