Wednesday, February 11, 2009

Conway & Conway meeting results...

reported to me by one investor who attended the meeting today:

It has been suggested that "Conway will handle every case individually, depending on the circumstance".
"They will go after deep pockets if any exist". They have suggested that this is something in addition to what the government is doing.
They also suggested that "60% of the defrauded investors will not hire an attorney (statistically) and that they may or may not recover any losses from the government years from now".

According to our source, Conway has represented victims of 4 ponzi schemes in the past 2 years. The firm has succeeded in all cases to recover partial or total restitution.

They are asking an initial retainer fee between 3,500 and 5,000 depending on the amount invested, plus minimal expenses.
The contingency is 331/3 %.
It has also been suggested that the firm will not accept clients with less than 50k in principal loss.

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