A brief replace word on the Digital Altitude Receiver’s web site informs guests that the Receivership is because of wind down quickly.
Victims of the $54 million greenback rip-off have additionally been suggested they’re largely screwed.
The Receiver’s newest replace seems to have gone dwell on or round September twenty fourth.
It’s quick and candy;
The Receiver might be concluding the Receivership within the coming months.
Sadly, no vital belongings have been recovered.
The FTC will institute a course of for shopper redress, however customers ought to be conscious that any funds will most probably be solely a small fraction of customers’ losses.
The place funds deposited into Digital Altitude wound up is unclear.
Additionally unknown is why the Receiver selected to not provoke clawback proceedings in opposition to Digital Altitude’s high earners.
The Receiver’s August fifteenth Fifth Report reveals the Receivership is sitting on $1.7 million {dollars}.
$207,434 has been collected in Receivership charges, accounting for 11.2% of funds recovered.
That is the primary time I’ve seen a Receiver not comply with by with a claims course of. I’m unsure how the FTC will proceed however I’ll hold a watch out for any updates.