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View Full Version : can somenoe sum up for me the warka situation over the past 4 years?



aaaack
06-14-2014, 11:23 AM
I haven't been keeping up with news about what's happening with warka bank accounts and isx. Have people been able to sell the ISX stocks and get their money out of warka? If not, then when did warka start making it so people can't withdraw money back to the US? I read a few things on this board just now about people (for a long time, not just since this recent crisis) not being able to get their money out of warka or access it. Can someone give me the rundown of what happened and when over the last 4 years - the brief version or a link?

Thank you very much if you can.

Will-it-happen?
06-14-2014, 11:38 AM
Corrupt CBI put Warka under guardianship

Warka sued and won

ChinaGirl
06-14-2014, 08:55 PM
I haven't been keeping up with news about what's happening with warka bank accounts and isx. Have people been able to sell the ISX stocks and get their money out of warka? If not, then when did warka start making it so people can't withdraw money back to the US? I read a few things on this board just now about people (for a long time, not just since this recent crisis) not being able to get their money out of warka or access it. Can someone give me the rundown of what happened and when over the last 4 years - the brief version or a link?

Thank you very much if you can.

Very little contact with Warka available - no money out - money allowed in of course - no selling of Proxy shares (do they even still exist some ask?) - buy and sell orders non existent for the most part - ISX on hold (through Warka) - paid ups / free share notifications etc. to share holders "spotty" if at all - online accounts work some days then don't work others (mine is down now - just recv'd new password 60 days ago) - requests for fee payments seem to work fine. Yes Warka apparently won the CBI battle but the Kangaroo Court seems to have no powers on the matter and Warka continues to crumble into dust. How long can a business hang on without "business"? The CBI will send us the answer shortly ( read 'bailout" or "oops sorry we were too late to matter")

aaaack
06-15-2014, 05:16 AM
Do you know when it became impossible to sell proxy shares and impossible to withdraw money?

HumbleGenius
06-15-2014, 12:31 PM
Do you know when it became impossible to sell proxy shares and impossible to withdraw money?
I have had some proxy share sell difficulty since BOY 2009. About 15 months ago they completely halted buying shares in your name. They did not have the funds to "repurchase" your stocks in your name after selling the proxy share. They will sell shares today for you and post a bogus increase into your account. The funds raised from the 'sell' are obviously being redirected to someone else, albeit salary or embezzlement who knows. What we do know is there is no money behind the online balances we use to be able to see. Warkas shutting down their online access may be the first honest thing they have done in the past two years. They no longer show us bogus account balances.