worldcom victim trust

So, when I was in Los Angeles (the valley) and had a good job and a life...I invested in Worldcom, a then great company. You all probably know what happened - fraud! And Ken Lay died instead of going to prison. I lost $3,000.00. Today I received a check for $100.00 which is my payoff for being a victim. Apparently, fraud is calculated on a sliding scale. If I had invested closer to the time they were caught I would have received way more settlement money.

This is in addition to losing a lot more money in the stock market crash in/around 2000. Too stressful to remember. No more investing for me. I have an annuity that is guaranteed and that's the riskiest I will go. Anyone have a similar story?

Anne, a Victim Trust was formed. There were almost 500,000 claims covering 9 million transactions in securities. Losses totaled over $12 BILLION and the Trust is paying out over $750 million to victims. People lost their entire 401Ks, life savings, etc. My loss was nothing compared to those who had worked for the company and lost everything.

Oh yes, Saundra, I go the secure way as well. We experienced a big dive two years ago. Our stock broker said we should wait it out. Well, I got cold feet, and told him to sell everything. We invested in low risk stocks. Not much money in it, but I sleep better. (by the way, those stocks never recovered...so much for the stock broker's advice, the own gut feeling is always the best.)