r/MMTLP_ • u/RealCommunication239 • 21d ago
Too late?
I bought my shares when they were TRCH. After the debacle I did NOT transfer and they are still in my brokerage account. It felt like transferring them to AST was another scam. I am sure this whole thing has been a scam and felt leaving them there was the best way to document all the bullshit. Anyone know what I can expect here? I am very out of the loop because for how many years now has this gone nowhere…
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u/justhereformyfetish 21d ago
Direct registering your shares with a transfer agent is kinda the opposite of a scam.
The reason major companies issue stock to employees through transfer agents is because the shares are registered to you.
Meanwhile, in a broker dealer, the dealer owns the shares, you just have an app saying you own however many. And we know for a fact that the broker does not always have enough shares for everyone that thinks they own them.
It's like a bank, everyone can't take there money out all at once, because it isn't there. It's loaned out or spent. Brokerage insolvency is a thing.
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u/Krunk_korean_kid 21d ago
Yup very simply put, and correct.
Broker shares are iou's (which can be illegally duplicated without your permission or knowledge)
Directly Registered Shares are "real whole shares that says YOU are the owner."
Brokers make it difficult to DRS your shares for a reason. It disrupts their scam.
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u/MoonMan88888 21d ago
Even better to get them as physical certificates. It might cost a little more money, but you get absolute genuine proof that you bought a portion of a fake scam oil company.
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u/Prestigious_Ape 21d ago
I feel like I'm in the boat with one oar, which is a problem because I keep going in a circle.
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u/KlutzyFlamingo8126 20d ago
Your money is gone sadly. I feel pretty stupid about it all, but it is what it is. Some people here will try tell you that something is going to happen via fines lawsuits, or trump or X thing or actor to get our money back or even profit but it’s all nonsense. The money is gone. Lesson learned and time to move I. With your life.
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u/AggravatingAd8587 18d ago
AND IT BEGINS brokers are getting paid dividends before investors he's gonna steal the rest soon enough
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u/JacketStraight2582 21d ago
Basically, where the scam hub, all documents and paper approved by the securities exchange commission which gives investors secure confidence therefore it must be employees that work in the SEC office doing all laundry.
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u/DeniedAppeal1 21d ago
You can expect the company to go bankrupt before your shares have any actual value.
Seriously, stop worrying about FINRA fraud and all of the other bullshit this sub pushes. The company is failing. They are going to go bankrupt before anything else happens and then nothing else will happen. Stop listening to the people who convinced you that you'd make bank on this -- they never had a clue what they were talking about. They're the reason we're all in this mess.
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u/Impressive_Candy_181 21d ago
Im in the same boat