Capstone Alliance Group was put into receivership when credit was not provided to the firm making it unable to meet margin requirements due to massive financial loses taken in Chinese debt securities trading.
Capstone Alliance Group's directors have stated that no retail clients of the firm have incurred any loses. The retail proceeds from all accounts such as certificates and any negotiable notes or commodities will be returned to the beneficiary on record with Capstone Alliance Group. The trading on all retail accounts is suspended.
Capstone Alliance Group had taken previous heavy loses on the Chinese debt trading markets but held its position in expectation of a sudden correction which came too late. The sudden collapse of the Chinese markets over the last few weeks have proven catastrophic for the markets worldwide. Last minute negotiations to extend emergency credit lines to Capstone Alliance Group to maintain it's trading margins open failed forcing the corporate auditors to announce receivership proceedings. The announcement of an independent auditor is expected in the next few weeks.
Capstone Alliance Group apologizes for the inconvenience and hardships caused by this market shock and commit to to ensuring a smooth a transition process as possible.