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Please know that the Receiver Team will continue to work toward providing this interim distribution as soon as possible. I am pleased to announce that after additional consideration, I have decided to make one additional interim, partial distribution before the Receivership closes. On February 10, , the Court approved the Motion. In the past, we have considered making an additional interim partial distribution; however, the expenses associated with making such distribution counseled against it.

After considering the potential for continued and protracted litigation with Victoriabank of Moldova, which is now on appeal for the second time, I did not find it reasonable to wait to make another distribution until the litigation ends, which may potentially be a year or more. I appreciate your patience throughout this process. We do not have authority to accept new claims and are not considering further requests to amend previously allowed claims. The time to file claims or to amend claims passed long ago.

As previously announced, United States District Judge Graham Mullen issued an order approving the sale of the vast majority of the judgments entered against net-winners in the Net-Winner Class Action case. There was a significant delay in the sale that occurred due to an appeal by the net-winners to the United States Supreme Court.

Recently, the United States Supreme Court denied the request of the net-winners to have their appeal heard. As such, the sale was permitted to move forward. On December 17, , pursuant to that Order, the sale of these judgments closed pursuant to the terms of the approved purchase agreement as amended.

Pursuant to that sale, all rights, title, and interest in the judgments against these net-winners has been transferred from the Receivership Estate to Nationwide Judgment Recovery, Inc. Because the judgment against these net winners was transferred to Nationwide, neither McGuireWoods LLP nor I are able to address any inquiries, settle or otherwise undertake any collections regarding the judgments sold. Any inquiries regarding any of these sold judgments should be directed to Nationwide and not to me or the Receivership team.

Nationwide is located at Katella Avenue, Stanton, California Their telephone number is They can be located online at www. Their email address is zeek nationwidejudgmentrecovery. All communications regarding any of the sold judgments must be to Nationwide. The Receivership team is no longer able to assist you.

There are still approximately U. Net Winners for whom we do not yet have a final judgment amount determined. These pending judgments were not included in the sale, and the Receivership team is working to finalize those remaining judgments in the coming months. We anticipate selling those judgments in a similar fashion. Since beginning my term as Successor Receiver, I have continued the analysis of how to best monetize the judgements we have obtained to-date in the Net-Winner Class Action.

The options were to either 1 sell these judgments in a lump sum to obtain funds to pay to the victims of the Zeek Scheme; or 2 seek to collect the judgments and make a final distribution after such collection efforts have ceased. After discussions with counsel at numerous debt collection law firms and an external process to seek potential purchasers of the judgments, I ultimately determined that it would be in the best interests of the Receivership Estate and the victims of the ZeekRewards Scheme to sell the judgments.

This moves us one step closer to a final distribution to claimants once the remaining litigation matters have concluded. The process of selecting a potential purchaser of the judgments occurred over several months. After receiving multiple smaller offers, we received an increased offer from Big Sky Research Bureau, Inc. I believe that the sale of the judgments to Big Sky is in the best interests of the Receivership Estate. The agreement does, however, allow other potential purchasers to make higher offers, subject to a right of first refusal by Big Sky.

I will consider any additional offers to purchase the Judgments I receive before the Court enters an Order on the Motion to approve the sale of judgments. In addition, I have requested that the Court allow a day period to pass before entering an Order on the Motion so that interested parties, if any, have a meaningful opportunity to make a higher offer. If anyone wishes to make a higher offer to purchase the Judgments, they may contact Shawn Fox at sfox mcguirewoods. The relevant filings are available in the Case Documents section of this website, and also at the following links:.

Motion to Approve the Sale of Judgments. Notice of Motion to Approve Sale of Judgments. Bell as a United States District Judge. I would like to congratulate Judge Bell on his confirmation and thank him for his tireless dedication to maximizing the recovery for the victims of the ZeekRewards scheme.

Now that the confirmation has occurred, I have begun my term as the Successor Receiver. I have worked as a close advisor to Judge Bell since the beginning of the ZeekRewards Receivership, and I intend to see this Receivership through to its end. There are two main areas of litigation we need to complete before making a final distribution to claimants. First, we must resolve the disputes with net winners who have challenged the dollar value of the judgments against them.

This will involve filing a motion for summary judgment, and potentially litigating some claims in hearings before the Special Master appointed in this matter. Like the previous Receiver, I have considered the possibility of making another partial, interim distribution to claimants prior to the resolution of the litigation, and I have reached the same conclusion that the substantial costs of making such a distribution would reduce the amount ultimately paid out to claimants.

While we hope to be able to file the Final Distribution Plan and make a final distribution before this date, it will depend on the timing of the litigation that I have discussed. We thank you for your continued patience.

The decision of the Court of Appeals means that all judgments of liability against the defendant class members are now final. Based on this decision, I will now move forward to pursue collection of the Judgments or their sale to a third party. This leaves only approximately net winners against whom the Receivership has not yet sought but intends to seek a final Judgment.

That effort will proceed this summer, and all net winners who initially challenged the amount of their net winnings in the process for determining the amount of net winnings are encouraged to communicate with the Receivership at NetWinningsResponse zeeknetwinnerclass. This favorable ruling moves us one step closer to a final distribution to claimants. Those claims must be completed before a final distribution occurs. While I have considered making another partial, interim distribution to claimants prior to the resolution of those claims, the costs of making such a distribution are substantial, and it has been my judgment so far that the costs of making additional distributions prior to the final distribution, which will reduce the amount ultimately paid out to claimants, outweigh the benefits of another small partial distribution.

We appreciate the continued patience of the claimants and will of course continue to work to complete the Receivership as soon as possible. I want to give you a status update concerning the Receivership, including our plans for future distributions to affiliate claimants holding allowed claims and pursuing additional assets. We hold funds sufficient to make another small interim, partial distribution. However, the expense associated with making such a distribution counsels against making it.

Instead, I expect to make only one final distribution at the end of the Receivership. This final distribution will be greater if we do not make small interim distributions. Also, we continue to pursue significant receivership assets through litigation against several parties, most notably the net winner defendant class members, Victoriabank of Moldova and others who supported the scheme. Absent further settlements with the net winners with whom we have not yet settled, we will soon seek to sell the judgments against them to debt collection firms or engage such firms on a contingency basis.

I very much hope that we are able to resolve this remaining litigation during As previously announced, on March 15, , the Receivership Estate made the third partial interim distribution to Affiliates who are holders of Allowed Claims against the Receivership Defendant.

If you previously have received a distribution payment from the Receivership, you will receive another payment in this distribution. His business experience included nearly four decades in multilevel marketing programs — such as Amway — including failed attempts to launch similar businesses of his own.

In penny auctions, consumers compete to pay pennies on the dollar for name brand products such as iPads. In January , he incorporated aspects of multilevel marketing into the business when he launched ZeekRewards.

The program offered a share of the penny auction's profits to people who invested money, promoted the company on other websites and recruited other participants.

Under a complicated formula, investors were issued "profit points" that grew every day. Some mortgaged homes to raise their investment. At first, ZeekRewards complied when investors sought to cash out. And that became the best ad of all: happy investors with their checks in Facebook photos. People who didn't trust the mail traveled long distances to drop off checks at the cramped office building where security guards allowed only seven inside at a time. Employees collected money and wrote out receipts at the office cluttered with dozens of plastic mail bins stuffed with check-filled envelopes.

To withdraw money, investors filed an online request — or called — and then had to wait for a check. By the end of , it seemed like everybody in Lexington was talking about ZeekRewards. Many saw it as a way to make extra cash to pay bills or help family. Sarah Chavez wanted extra money for her daughter's frequent hospital visits for leukemia. But everyone told us it was a sure thing," she said. Burks mostly kept to himself, and few locals knew anything about the quiet, balding man with thick glasses.

In the s and early s, the Shreveport, La. Burks moved to Lexington in the early s because his wife was from the area. Most afternoons, he ate lunch at the same downtown restaurant with an entourage of managers.

Conference calls with investors were posted on YouTube. He produced glossy brochures touting the company. The publicity paid off. When the Association of Network Marketing Professionals held its annual convention in March , it called ZeekRewards the model of legal compliance.

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