The Site visitors Monsoon Receiver has filed a class-action clawback criticism, concentrating on high net-winners within the $175 million greenback Ponzi scheme.
The Site visitors Monsoon clawback lawsuit was filed on April twenty second, following court docket approval in late March.
The Receiver’s bold clawback lawsuit targets 4819 net-winners, every of whom withdrew a internet of $1000 or extra.
Collectively, Site visitors Monsoon’s 4819 net-winner defendants stole over $48 million from Site visitors Monsoon victims.
The Receiver’s clawback lawsuit seeks to get well quantities illegally paid to Site visitors Monsoon net-winners.
Named defendants within the clawback lawsuit, aka Site visitors Monsoon’s worst scammers, and the quantities they stole embrace:
- Imtiaz Aslam (aka Immy Aslam) from the UK – invested $10,825 and withdrew $5,095,096
- Piotr Chajkowski from Poland – invested $45,751 and withdrew $874,820
- Vincent Boutin from Canada – invested $207,124 and withdrew $968,665
- Maurizio Longo from Italy – invested $52.65 and withdrew $607,174
- Ernest Ganz from Florida within the US – invested $344 and withdrew $448,369
- David Barker from North Carolina within the US – invested $23,177 and withdrew $363,596
- Mohammed Yasin from the UK – invested $9,850 and withdrew $349,529
- Adil Khan from the UK – invested $12,272 and withdrew $328,663
- Javediqbal Naeem from the UK – invested $67,793 and withdrew $355,332
- Restricted By Invitation (a UK restricted partnership) – invested $8588 and withdrew $260,519
- Sharon James from the UK – invested $2254 and withdrew $249,758
The above defendants have been designated class-representatives, which means they are going to defend the case on behalf of the net-winner class.
Site visitors Monsoon was a Ponzi scheme shut down by the SEC in July 2016.
Forensic evaluation by the SEC and appointed Receiver revealed that 98% returns paid out had been sourced from new funding.
On the time of its shut down, Site visitors Monsoon had taken in $175 million and generated over $700 million in ROI liabilities.
Replace twentieth July 2019 – Service replace from the Site visitors Monsoon Receiver’s Seventh Standing Report;
The 2 Named Defendants who reside in the USA have been served, as have 5 of the seven Named Defendants in the UK and the one Named Defendant in Canada.
The Receiver is within the technique of serving the 2 different Named Defendants in the UK, the one Named Defendant in Poland, and the one Named Defendant in Italy in response to the Hague Service Conference.
The full Standing Report is out there by way of the Receivership web site.