MOBE Receiver seeks to return $15.2M to FTC for distribution
Following the withdrawal and denial of the last outstanding claims, the MOBE Receiver is working towards
concluding the receivership estate so that he can move to be discharged.
Part of that process will see $15.2 million transferred to the FTC for eventual victim distribution.
The last remaining Receivership issue is “open issues with the Internal Revenue Service” (headache warning ahead).
When the Receiver filed his 2019 federal tax returns he also filed an IRS Form 4810, requesting prompt assessment of his returns by the IRS.
On March 25, 2021, the IRS responded with a form letter advising that it was rejecting the Receiver’s request for a prompt assessment because, it claimed, the Receiver did not include proof that he was authorized to act on behalf of the QSF.
This is an error on the part of the IRS because the Receiver included a copy of the Court’s order appointing him as receiver herein, which should be sufficient.
Never the less, the Receiver is in the process of attempting to satisfy the IRS that he is authorized to act as receiver for MOBE, so that he can obtain a prompt assessment concerning the tax returns filed.
The Receiver states he is “uncertain” how long those issues will take to resolve.
In light of that uncertainty, on May 21st the Receiver requested permission to
make an interim distribution so that the Plaintiff may begin consumer redress as soon as possible.
If granted, the Receiver’s request will leave $500,000
in the receivership bank accounts, which should be more than sufficient to cover the remaining anticipated expenses.
With respect to when MOBE victims will be able to file claims, the Receiver writes;
consumer claims will be addressed by the Federal Trade Commission at a later date.
There is currently no timeline for this process.
As of June 14th, a decision on the MOBE Receiver’s filed May 21st motion remains pending.
Update 16th August 2021 – Magistrate Judge Daniel Irick has filed a report recommending the Receiver’s motion be granted.
The report was filed on August 5th. A decision on the motion and recommendation by the court remains pending.
Update 28th August 2021 – Magistrate Judge Irick’s report was adopted as an order on August 20th.
The Receiver is authorized to distribute 15.2 million dollars to the Federal Trade Commission while retaining approximately $500,000.00 in the receivership accounts.
A reminder that as of yet there is no distribution roadmap from the FTC.
Update 7th April 2022 – The FTC has announced $23 million has been distributed to MOBE victims.
Article updated with Magistrate’s report recommending approval of the Receiver’s filed motion.
Hello, please let me know when reimbursement of funds can be distributed. It has been a struggle for our family.
I can keep an eye out for an FTC announcement but I wouldn’t bet on anyone contacting you about it.
Article updated with adoption of Magistrate Irick’s report.
I got racked for over $83k.
I am waiting for my refund. I am struggling for long times.
Just wondering how the FTC will handle international victims of MOBE. Help is needed.
I do not know until recently. Hoping for a positive announcement from FTC soon.
I am waiting for my refund. I am waiting for long times and paying to the Bank for money received that was paid to Mobe for online Business Coaching.
Efren A. Rivas
How can we file a claim.
Had info 3 years ago but this has taken so long. I even got audited by IRS with move business and I could not claim business losses so out 20k them 15k in tax penalties on top of that.
Mine is the ripoff that keeps on taking.
You can’t. Contact the FTC for more information.
If you owe some money to the government, you will be pursued vigorously until you pay. But if the government is to refund your money that was fraudulently collected that has been proved beyond all doubts, you have to remain in uncertainty forever.
FTC should payout our 15.2 million immediately which is the balance after Receiver’s heavy salaries that had no delays and 500,000 dollar reserve.
Please please do the right thing, give us back our money, why allow Chase bank to hold any of the returned monies Chase Florida bank was told by myself that Lloyd had a wire transfer from me for 13,360.00 cash
That money was from my mortgage, I asked for my money back. Chase would not give my money back I am owed more than 34.000 dollars.
I really need my money it’s been since 2014 or 2015 please we are begging the FTC to do the right thing give us our money with the Pandemic we are suffering financially no work in over two years.
Hurting Receiver we need our money that’s being held by Chase and others. For me Chase is guilty they had his accounts.
Once MOBE was shutdown it wasn’t your money any more. Chase’s legal obligation was to the Receivership, whose property the money now was.
BehindMLM != FTC. Crying on here isn’t going to get you anywhere.
Please FTC do the right thing. This is not for the the Receiver to get rich from innocent hard working people. Return the money to the consumers.
It seems that the overall 15.2 million $ collected are enough just to restore a minority percentage of the MOBE investment to each person filing a specific claim to the FTC.
For this reason, it’s better not to attribute excessive expectations to the possible future distribution of funds.
Anyway, the timeline may be close.
Received approx 7% of my losses back after paypal costs and transfer costs to GBP today-possibly 10% before costs.
No prior communication, just turned up in my paypal account with basic message. Anyone else? what percentage?
“This payment is the result of a settlement between the Federal Trade Commission and MOBE”.
Good to hear! Any chance of a photo/screenshot? Edit out any sensitive information or I can do it.
Would be good to be able to put together a closure article for MOBE victims.
Received a surprise email from FTC about a refund and a corresponding email from Paypal informing me of funds received.
About 20% of what I spent. I had totally written this off as a loss so any return is good for me.
Hi the message I received through paypal gives a link:
The heading of the article referred to is : Federal Trade Commission Returns More Than $23 Million To Consumers Deceived by Online Business Coaching Scheme MOBE.
I received 2 e-mails (one in early April and the second around May 17th) from the FTC saying they were issuing me a refund via PayPal but haven’t received an e-mail from PayPal or a PayPal payment.
Have you registered? If not please do.