King Rat (gkr) wrote,
King Rat

Refco and Rogers International Raw Materials Fund

Well suck. I just found out today that an investment I made is now tied up in bankruptcy court. I put money on the Rogers International Raw Materials Fund. The asset management is done by Beeland Management Company. Customer account management by Uhlmann Price Securities. However, in September they decided to transfer part of that to Refco. In October, Refco declared bankruptcy after the CEO was charged with securities fraud. Except they are holding 63% of the Rogers Fund assets. Meaning Rogers can't touch it without the bankruptcy court's permission. And meaning I couldn't withdraw my money if I wanted to.
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