James Cordier, in a video posted last year. Cordier was popular with old folks. One client has already passed away.
Cordier became infamous in finance circles from his viral and cringe-worthy apology videowhich has been viewed more than half a million times. In the video, he sits at a boardroom table in a suit and tie, wearing cufflinks and a Rolex-resembling watch.
It sounded so Cordier options.
The firm lost all of its capital in volatile energy markets and left many clients on the hook to settle trade balances, according to legal filings. FCStone, in turn, has shot back with its own claims, Chapman said.
Clients are taking out second mortgages just to put potatoes on the table. FCStone claims that it only served as a clearing firm, whereas several investor cases Cordier options that OptionSeller acted as its agent and FCStone should be on the hook for restitution and damages.
Investors do have outstanding legal claims against him, but the focus of litigation appears to be on FCStone — a multinational corporation with a big balance sheet and legal firepower to match.