Matt Lloyd cops $318 mill MOBE fraud FTC judgment order
Matthew Lloyd McPhee has been handed down a $318 million dollar final judgment.
The March 5th order follows Lloyd’s MOBE settlement with the Receiver, which was approved back in January.
There is considerable overlap between the Receiver settlement and the final order. The latter however brings the FTC’s proceedings against Lloyd to a close.
As per the March 5th order, the facts alleged in the FTC’s 2018 complaint are “taken as true”.
Namely that, through MOBE, Lloyd (right) and his co-conspirators bilked consumers out of over $125 million.
As part of the final judgment order, Lloyd received a $318.5 million dollar monetary judgment.
To satisfy judgment, Lloyd will surrender
- his Costa Rica, Fiji Resort and Kuala Lumpur properties, which will be sold by the Receiver;
- $839,421 held in a Bank of America account;
- $55,951 held in a Wells Fargo account;
- $10,000 held in a Regions Bank account;
- $19,213 held in a Branch Banking & Trust Company account;
- $4995 held in an Aquesta Bank account;
- $1081 held in a Fifth Third Bank account;
- $665 held in a First Citizens Bank account;
- $76,050 held in a Malayan Bank account;
- $237,763 held in a United Overseas Bank account;
- $107,161 held in a Royal Bank of Canada account;
- $18,974 held in a Westpac Bank Corporation account;
- $199,133 held in a Bank of Singapore account;
- $31,852 held in a National Australia Bank account;
- $335,475 held in a Credicorp Bank account;
- $1,169,692 held in a Vanguard Investments account;
- $17,233 held in a PayPal account;
- $1903 held in a Square, Inc. account;
- $2955 held in a Stripe account;
- $144,233 held in a Payout Systems account;
- $193,505 held in a Cash Network account;
- $148,490 held in an Offer Blueprint account;
- $49,652 held by the law firm David F. Sutherland & Associates;
- $6,314,342 held by QualPay Inc. in a Synovus Bank account;
- $2,096,967 held in an Allied Wallet account;
- $3,051,048 held in an Electronic Merchant Services account;
- $607,000 held in a Peoples Trust Company account;
- $211,357 held in Priority Payment Systems and Card Payment Systems accounts; and
- and and all other assets or funds tied to MOBE.
The known dollar amounts above come to $15,946,111. Tack on to that proceeds from the property sales and interest the Receiver has generated.
What’s left of the $318.5 million dollar judgment is suspended.
Based on sworn financial statements submitted to the FTC, although the $15.9 million falls well short of the $318 million judgment, Lloyd has been effectively stripped of MOBE related ill-gotten gains.
Lloyd is also permanently prohibited from having anything to do with business coaching programs or investment opportunities.
On the compliance front, Lloyd will have to keep the FTC informed of any changes to his personal or business details and/or activities for twenty years.
This includes accounting records (must be retained for five years), consumer complaints and any advertising material Lloyd’s creates.
Would this mean he is a criminal now and would be deported from the USA if still there?
Would he even be allowed back if he requested to
FTC case was civil.
To answer your question matt lloyd is a criminal and i spoke 2 mark bernet d receiver in charge of d mobe case 2 months ago he said matt lloyd hidin in malaysia dat if matt lloyd step foot into d usa soil he gonna get matt lloyd arrested.
So how long until we get money back now? Some of us don’t have enough money to even eat each day.
@Ola
The FTC case is civil. You don’t get final judgment orders in a criminal case, you get sentencing.
I find it hard to believe Bernet would comment on an open DOJ investigation. They themselves don’t comment on their open investigations.
At the time of publication there is no filed criminal case against Matt Lloyd. Whether he’s on a DOJ watchlist I have no idea (and to be honest, neither does Bernet).
@Lfox
You won’t get your money back, you’ll get a percentage of it returned. There is no timeline.
Mark bernet can speak on an open case he is a lawyer and u oz i dont think u are a lawyer mark bernet has d judge support and backing to do whatsoever he wants and matt lloyd is going to jail if he comes flying is dumbass to the usa.
and d receiver is from florida like me florida versus everybody mark bernet is a qualified lawyer he can speak on an open close case cause he can plus d judge supports whatsover mark bernet does roy dalton d judge from orlando and he supports whatsover mark bernet does.
To mark bernet d lawyer request matt lloyd is not welcome back into the usa he a con artist he is a criminal cant wait till d judge sentence him 2 jail.
Mark Bernet doesn’t work for the DOJ. You don’t sound very intelligent. Imma leave it there.
I see Matt is trying to get people to sign up to his emails.
I’m still wondering if I will be able to get my hard earned invested money back?
You might get a percentage back at some point. There is no timeline.
I had to sell my home of 50 years that my deceased husband built. It destroyed everything we had worked for.
Are we going to get our money back? I still have the receipt with me. I didn’t earn any from MOBE.
Not looking likely but that’s a question for the FTC.
Yeah, the attorneys are getting their money but not all of us that lost $100,000’s. Not right!!!
We are making payments every month to get out of debt.
Thank you Matt Lloyd. Hope you have trouble living with yourself.
I invested money in this too I even have the book and I want my money back!!!!
If there are any particular step I need to take in attempt to get some of my money back I would really appreciate any instructions you could give me.
Nope.
Is there a class action suit?
Nope.
What can I DO to get my money back. I’m heavily in debt because of MOBE. Let me know what I have to do.
Nothing. You’re waiting on the MOBE Receiver.
I paid this con around $27,172 for his Ponzi unethical and fraudulent scheme. This creature is a criminal and should be behind bars instead of being at large free and having fun with other people’s money and cruising all over the world.
Also he bought couple of islands according to him in few of his promotional videos. Shouldn’t those islands be part of the surrendered list?
How I can get my money back and who should I contact?
Thank you.
See comments above re. recovery.
I can’t speak to asset forfeiture. I can only report on what was in the judgment order.
you should never go all in on any biz op!!
people that lost their house etc its a tuff lesson but you let greed get the best of you in hopes to get rich quick!
Nice job covering this disguised cash gifting scheme, Oz. Your site is my go-to spot if I want to check out any so-called ‘opportunity’.
At least the FTC stopped this scum bag before he got to the level Bernie Madoff was at, ripping people off.
But, the results are always the same – Virtually everybody lost almost every dime they ‘invested’ in this scam.
Karma’s a bitch!
How many people trusted Matt and his partners in crime…
And he took their money they did really have… They trusted his lies…
I hope the courts take every penny from this crook… The only people I feel for is his Parents and family…
Serves all of you right. This is how low your responsibility levels are.
It’s not Lloyd’s fault you fell for it, it’s yours and yours alone. Pack it up, file for bankruptcy, and start over.
6 months of research online, next to nothing out of pocket, and a desire to be uncomfortable and you’ll have income coming in.
You should all be ashamed of yourselves, not Matt. I hope every single one of you idiots finally understands that ANY get rich quick nonsense is nonsense, but you’re going to keep experiencing the same pain until you learn the lesson.
Especially the lady that lost the home her deceased husband built. How DARE you!
You refinanced the home when you owed nothing on it, right?! Having a basically free place to live wasn’t enough? Greeeeeed! You all have a brain that works.
Next time someone tries to “help” you… assume they’re LYING about everything. Until you do your own extensive research, do NOT formulate a conclusions.
This is why I hate this industry. Despicable, all of you.
Personal responsibility doesn’t negate or justify scams or the actions of the scammers who run them.
Matt Lloyd broke the law by lying and ultimately scamming consumers. He was held accountable by the FTC and rightly so.
Victim-shaming doesn’t change these facts.
I started MTTB/MOBE way back in January 2015 from Nigeria.
By June 15, 2015, I had joined MOBE as License Rights with $2,497.00 invested.
I was expecting $476/week of commission but somehow no information was coming forth from their business counselor.
Before 2017 and now, nothing was heard from Matt Lloyd and MOBE company. This year, on November 26, I search through the internet and found your site.
By the judgment given, and as consumers, are we expecting any form of refund?
Mike
The FTC are handling eventual distribution – https://behindmlm.com/companies/mobe/mobe-receiver-seeks-to-return-15-2m-to-ftc-for-distribution/
There is no timeline.
Matt Lloyd is selling courses through “Strive Courses”. It’s a MasterClass clone.
As far as I can tell there’s no income opportunity attached, so this is permissible as per the FTC order.
Is there any hope for a refund available to us who paid MOBE. Or is the money collected from Matt going to the state.
We need a closure in this issue so that we can move on.
FTC hasn’t made any public statement on MOBE recovery. You’ll need to contact them.
I never invested in mobe, but I did in aspire.
Aspire was taken over by the ftc also and I only got like less then $100 dollars out of over $2000 I never blamed Aspire. I was totally responsible for my own stupid decisions.
The FTC doesn’t “take over” companies.
You got scammed, and evidently you’re still delusional about it.
It Says ‘Lloyd is also permanently prohibited from having anything to do with business coaching programs or investment opportunities’.
But he has a Youtube Channel And Instagram Promoting A Business called strive.
How is this allowed?
Most of the tabs on Strive’s website pertain to health. I guess Lloyd figures this is different enough from “business coaching” to be permissible as per his judgment.
Whether it is or not is up to the FTC.