Top MOBE affiliate Steven Bransfield has revealed the FTC is going after him.

The revelation was noted by the MOBE Receiver in his latest August 29th update report, following Bransfield’s bankruptcy filing.

Steven Bransfield, a Florida resident, filed for Chapter 11 bankruptcy on August 26th.

In Bransfield’s 161 page filing, he reveals that $450,000 of assets he considers his are frozen as part of the FTC’s MOBE lawsuit.

Bransfield also reveals he is the subject of a “civil investigation” by the FTC,

regarding (Bransfield) and his companies role in the sale and marketing of MOBE’s products and services.

Bransfield styles the case “Federal Trade Commission v. Steven Bransfield,”, suggesting other MOBE promoters might also be under investigation.

The nature of the FTC’s case has yet to be made public. Bransfield denotes the case as “pending”.

I was unable to find the FTC’s case on Pacer, suggesting its still in the investigatory stage.

As far as I’m aware this is the first independent lawsuit the FTC has filed against a MOBE promoter.

As to Bransfield’s bankruptcy, he claims to owe between 200 to 999 creditors $12.82 million dollars.

In an accompanying “Statement of Your Current Monthly Income”, Bransfield claims he’s presently earning $5500 a month.

The largest creditor listed in Bransfield’s filing is the FTC for $9,420,298.

This is likely to be a clawback amount the FTC is going after Bransfield for.

In his Update Report, the MOBE Receiver advises

Consumers who feel that they have claims against Bransfield should review his bankruptcy case, which is styled In re: Steven A. Bransfield, case no. 19-21442-LMI, United
States Bankruptcy Court, Southern District of Florida, Miami Division.

If you believe you have a claim against Bransfield, you should file a Proof of Claim form with the clerk.

You can download the approved bankruptcy proof of claim form from this link:

Be sure you also review the instructions on the link so that you fill out the form properly.

The form, when completed, should be sent to the clerk at the following address:

Clerk of Bankruptcy Court, US Bankruptcy Court, 301 N. Miami Avenue, Room 150, Miami, Florida 33128.

The clerk has established the deadline for filing a proof of claim as January 6, 2020.

In related MOBE news, the Receiver announced the recovery of $607,000 from Peoples Trust, a payment processor based in Canada.

Addressing MOBE affiliate directly, the Receiver also writes;

I want all to know that I am aware of your frustration with the length of time that this process is taking.

This, unfortunately, is the nature of litigation. I can assure you that the FTC is working very hard to try to resolve the lawsuit, and I expect that there will be an announcement on this subject within the next three months.

Additionally, I am working to obtain control of some of Matt Lloyd’s real estate holdings, and I want to let you know that he is cooperating with me in this regard.

I have reached a tentative agreement with Mr. Lloyd for these assets to be liquidated for the benefit of the receivership estate, and I expect to report the details of that agreement to you shortly.

A word of caution, though: While it is true that MOBE generated a significant amount of money, almost all of which came from you and almost all of which was based on false promises, much of that money was spent on MOBE’s operating costs and thus cannot be recovered.

Pending updates on the liquidation of Matt Lloyd’s assets and/or the FTC’s clawback case over the next few months, stay tuned…