The Zeek Rewards Receiver has filed two new motions; one requesting permission to make a ultimate distribution, the opposite searching for to shut the long-running case.
With respect to a ultimate distribution fee to Zeek Rewards victims, the movement states;
The Receiver seeks approval of this Courtroom to make a fifth and ultimate distribution to holders of allowed Claims.
The Receiver plans to distribute a further quantity of roughly $10,000,000-$13,000,000 to claimants.
If the movement is granted, victims with a legitimate declare can be given till November 1st to make any Claims Portal adjustments.
After that checks can be issued. Any that aren’t processed can be deemed “unclaimed property”.
If the overall quantity of unclaimed property is $100,000 or extra, the funds can be redistributed to legitimate declare holders.
If the quantity is lower than $100,000, unclaimed funds can be donated to charity.
The Receiver’s different movement pertains to administrative closure of the Zeek Rewards case.
The Receiver believes it’s time to administratively shut the receivership whereas the Receiver completes the administration of the
RVG Property in accordance with the mandates of the receivership and makes the ultimate distribution.
The Receiver’s motions had been filed on October sixth. At time of publication selections on each motions stay pending.
The Zeek Rewards Receivership was established in August 2012.
Over the course of its operation, the Receivership
- recovered over $10 million from monetary establishments and fee processors;
- recovered “hundreds of thousands in property” from Zeek Rewards insiders;
- raised $10 million by promoting default judgments obtained in opposition to Zeek Rewards’ net-winners; and
- distributed over $356 million to Zeek Rewards victims.
BehindMLM started protection with our Zeek Rewards evaluation in September 2011. Since then we’ve printed 200 and thirty articles overlaying the saga.
In 2017 Zeek Rewards founder Paul Burks (proper) was sentenced to 14 years in jail.
Burks, 74, is at present incarcerated in FCI Butler, a North Carolina medium safety jail.
He’s scheduled for launch in February 2028.
Pending approval of the Receiver’s motions, this additionally brings BehindMLM’s decade lengthy protection of Zeek Rewards to an in depth.
Replace seventeenth October 2021 – The court docket authorized each the Receiver’s motions on October twelfth.
This implies the Zeek Rewards case is now formally closed.
We don’t have a date for ultimate distribution however I’ll proceed to observe the Receivership web site so long as it’s up.
Replace twenty ninth Could 2022 – As of Could nineteenth, the Zeek Rewards Receivership has been closed.