At present the Receiver confirmed these had been ultimate distribution funds.
In an announcement dated February 2nd, the Receiver wrote;
I’m happy to report that the Receivership’s ultimate distribution is properly underway.
On Wednesday, January nineteenth, we despatched out over 121,000 distribution checks. This ultimate distribution supplies an extra $14.3 million to the victims of the ZeekRewards Ponzi scheme.
Please word that the checks are void after 120 days, so I encourage claimants receiving these checks to deposit them quickly after you obtain them.
We’re nonetheless within the strategy of executing roughly 1,000 wire transfers to worldwide claimants who elected to obtain a distribution by way of wire.
Making distributions by way of wire switch includes a handbook, time-intensive course of, which must be accomplished in March.
The Zeek Rewards Receivership was established in August 2012.
All stated and performed, the Receivership has returned $371 million to victims. This represents an 84% restoration on legitimate claims.
Seemingly unaware that an 84% restoration is totally not the conventional for MLM Ponzi schemes, the Receiver goes on handle complaining victims;
Many have inquired why the distributions quantity to lower than 100% of every allowed declare.
The Receivership workforce has labored tirelessly to get better as many funds as attainable from the ZeekRewards Ponzi scheme and those that benefitted from it.
Nevertheless, as with every Receivership, not the entire funds might be recovered.
Vital effort went into pursuing litigation towards a number of events, most notably the online winner defendant class members, the scheme’s insiders, banks, and different monetary firms.
I’ve pursued this litigation vigorously and to the perfect of my potential as a way to get better probably the most funds attainable for the victims of the ZeekRewards scheme.
I do know and perceive that recovering lower than 100% of your funding shouldn’t be what you had in thoughts whenever you invested in ZeekRewards.
I’ve learn letters from and spoken to a lot of you.
I’m keenly conscious of the difficulties that ZeekRewards inflicted on hundreds of individuals, and the ripple results of the scheme that influence many people to at the present time. However I’m happy with the general restoration that claimants are receiving.
An 84% restoration is unprecedented for a Ponzi scheme with this variety of victims, and I’m proud that the Receivership workforce has spent much less as a proportion of whole recoveries than any receivership of which I’m conscious.
BehindMLM revealed its Zeek Rewards assessment on September twenty first, 2011.
Since then, together with this text, we’ve revealed 232 articles overlaying the $900 million Ponzi scheme.
