Following a discharge motion filed earlier this year, the Digital Altitude Receivership has been formally closed. The order was made on October 5th, following approval to pay $42,779 to Receivership staff.
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The Digital Altitude Receiver has opted not to pursue recovery efforts against Paradise Media Ventures and owner John Souza. In light of that being the last outstanding action for the Receivership, the Receiver has filed for discharge.
A short update note on the Digital Altitude Receiver’s website informs visitors that the Receivership is due to wind down soon. Victims of the $54 million dollar scam have also been advised they are mostly screwed.
A decision on the beef between the Digital Altitude Receivership and Paradise Media Ventures, will see owner John Souza keep $600,000 of victim funds.
Digital Altitude CTO Alan Moore reached a proposed settlement with the FTC in September 2018. As part of the settlement, it was agreed Moore would transfer $46,300 to the FTC. Following a court order to unfreeze the funds, Moore represented to the FTC that the funds had been placed in escrow with his attorney. This [Continue reading…]
Just before the FTC moved to shut it down, Digital Altitude transferred over half a million dollars to Paradise Media Ventures. There doesn’t appear to have been any legitimate reason for the transfer, and so now the Receiver is demanding the funds back.
Michael Force’s settlement with the FTC has been approved. As per the settlement, the FTC has received a $54 million dollar monetary judgment against Force. An injunction has also been granted, prohibiting Force from committing further violations of the FTC Act.
As it stands the FTC is currently reviewing four settlements in the Digital Altitude case. The closest of the settlement review deadlines is Michael Force on January 2nd. That is by January 2nd, the FTC was scheduled to have made a decision on the agency’s proposed settlement with Force. Unfortunately last month Donald Trump decided [Continue reading…]
Brief updates on the FTC’s Digital Altitude lawsuit; the FTC’s motion for a final order with respect to default judgment against Digital Altitude has been taken under submission Mary Dee and the FTC have reached a yet to be approved settlement the Digital Altitude Receiver has filed his Third Interim Report More details on each [Continue reading…]
In a complete backflip from being “not interested” in settling as of October 2nd, Michael Force has reached a settlement with the FTC.