Digital Altitude victims “should not expect any significant recoveries”
In a March 12th message on the Digital Altitude Receivership website however, the Receiver reminds that that’s not necessarily the case.
Since the FTC shutdown Digital Altitude last month, the Receiver claims ‘several hundred customers have requested refunds of the Receiver by email‘.
Acknowledging seized funds are “scarce” ($2 million weighed against the $50 million Digital Altitude is alleged to have defrauded consumers out of), the Receiver states he will not be individually replying to each request.
Instead those who lost money in Digital Altitude are advised ‘the Receiver will not be honoring any refund requests at this time.‘
Digital Altitude victim claims might be addressed “at some point in the future”, pending the outcome of the FTC’s case
and depending on the success of the Receiver in recovering funds for the benefit of allegedly aggrieved consumers.
The Receiver goes on to advise that, given his current assessment, Digital Altitude victims, some of whom have lost tens of thousands of dollars, “should not expect any significant recoveries.”
That being said, the Receiver is continuing to work diligently to identify and marshal assets and identify potential sources of recovery.
The Receiver’s efforts will be posted on this website.
How much the Receiver is able to recover from Digital Altitude and its top earners remains to be seen.