MOBE trial set for May 2020, case referred to mediation
A June 11th Case Management and Scheduling Order has locked in a May 2020 MOBE trial date.
Settlement negotiations between the FTC and MOBE owner Matt Lloyd came to a standstill, following Lloyd’s refusal to give up sizable foreign assets.
To that end the case has now been referred to mediation, but whether that will lead to a settlement is unclear.
Given the almost certainty Lloyd will get steamrolled by the FTC if he went to trial, I’d be surprised if the case wasn’t resolved via settlement.
On the other hand Lloyd seems to be stubborn enough not to surrender his ill-gotten gains, so maybe the MOBE case will go all the way.
Unfortunately once a case is referred to mediation we stop getting updates on it, pending either settlement or a status update advising mediation failed.
As per the June 11th Case Management order, a mediation hearing is to be held before August 7th.
I imagine our update on mediation proceedings will be later that month.
I need my money back ASAP the debt are piling up like crazy it has been difficult to make ends meet currently at my present times.
Matt Lloyd need to be punished he has no remorse for all the wrongs he has caused. 50 years in prison will do for me.
Sounds like how most everyone lives these days.
What they took won’t make much of a difference.
IF you didn’t have stable income before how would it solve it now?
How come Empower Network didn’t get sued but MOBE did.. OZ?
You’d have to ask the FTC that.
Best to see a debt advice charity, consider bankruptcy, etc, and generally assume that you are never going to get the money back.
Even if you do get any money back it will almost certainly arrive too late to help with your financial situation.
Didn’t Empower Network collapse by itself without regulatory intervention?
The main point of regulators intervening in a money game is to prevent future losses by unwitting consumers. If it’s already collapsed then there’s little reason for the FTC to intervene.
If any crimes were committed in the course of an already-collapsed pyramid scheme then my understanding is that that’s the FBI’s job in the US, not the FTC’s.
And the main antagonist appears to be unfit to stand trial and the only point of arresting him would be to go through the formality of putting him in a mental institution.
Which is a further argument in favour of the FBI concentrating on rapists, murderers and billion-dollar money-launderers rather than muscling in on Social Services territory.
Sorry but your money has gone LABOOM LABYE. You might want to think before you invest in ponzi schemes.
I do wish people would stop calling money going that goes into ponzi schemes as “investing”. It’s plain theft and fraud.
The sad fact is that still most big names get away with it.
E.g. Chris and Susan Beasley were massive promoters of MOBE and they just walked away seemingly without a care in the world, and I dare say a large amount of stolen money was used for their holiday home in the Alps.
It’s not right. Theft is theft and should be punished accordingly.
How is this theft when you go in this at your own risk?
Because MOBE was marketed on fraud and deception, as all pyramid schemes are.
Risk is neither here nor there.
If that were true – there would be no such thing as “fraud” would there ?
It would always be the victims’ fault