WCM777 Receiver files eleventh Interim Report
On November 11th the WCM777 Receiver filed her eleventh Interim Report.
Topics covered in the report include:
- funds recovered
- the sale of a California property and
- the Diamex Diamonds (PMX Jewels)
I’ve separated the various topics covered into appropriate subheadings below.
Funds Recovered
During the third quarter of 2016 the Receiver recovered $1.08 million dollars.
$1,075,000 was recovered from the Sue Wang settlement and $5000 from the Zayda Aberin settlement.
Property Sale
The vacant land plot in Santa Barbara County, California was sold for $530,000 in october 2016 ($493,205 minus broker commission and other costs).
PMX Jewels
After it was deemed the flawed Diamex Diamonds weren’t worth polishing and cutting, the Receiver accepted a reduced offer of $2000 from a third-party buyer.
Current Balance
As it stands the WCM777 Receivership holds $27 million dollars in recovered funds.
Pending a November 28th hearing on a motion seeking approval to allow and disallow victim claims, these funds will be distributed to WCM777 victims.
There’s been some objections filed to disallowed claims which the Receiver has responded to.
I’ll have a separate article up covering those later today.
I’m their victim with 15 units, my claim is denied to distribute, I want to dispute my case, any one have the same my situation?
@Mai
Your denied claim should inform you what you need to do (probably provide bank records).
If the claim was denied outright, you’re probably trying to claim ROI money. That money doesn’t exist.
I have included a bank statements to show the money are transfered to my up line and the statement of my withdrew money 2 times from WCM 777 when they allowed us to do that in my claim.
What is ROI? how to claim and where to submit it? THanks
The claim deadline has passed. If you submitted bank statements then you’ve already filed a claim.
I suggest you get someone who’s more proficient in English to assist you.
If the Receiver asked for banking proof and you provided it, then your claim should have been approved. Unless you were claiming made up money you think you earned (ROI).
I have included a bank statements to show the money are transfered to my up line and the statement of my withdrew money 2 times from WCM 777 when they allowed us to do that in my claim.
What is ROI? how to claim and where to submit it? THanks.
The statements were not enough as they said! they need the receipts but the bank couldn’t give out after 60 days of the transfers my problem is I didn’t keep all those receipts!
I’m looking for who can help me to dispute this claim I will split my fund in half if we win ( just hope ) but thanks for your sharing.
@Mai
Uh, you should be able to get an account statement for any period of time (even if you have to pay a small fee).
If your bank is refusing to provide you with a statement for the requested period then there’s something dodgy going on with your bank.
The onus is on you to provide evidence to support your claim, not the Receiver.
Return On Investment
The only money you might be entitled to is some of the original amount you invested. Any money you “made” was fake or stolen thus never yours – even though numbers on a screen suggested otherwise.
Your fund? You’re seeking to get money back, but then give away half? Sounds like you might be counting the ROI? How much money did you spend out of your own pocket? How much did you withdrawal?