Stephanie Megan Wildes has settled with the Profit Connect Receiver for $90,000.

As part of efforts to recover funds laundered through the Profit Connect Ponzi scheme, the Receiver identified $127,188 transferred to Wildes.

As per a memorandum accompanying the Receiver’s motion seeking approval of Wildes’ settlement;

Upon further investigation, the Receiver learned that the Wildes Funds were sent by Profit Connect to Wildes as “payment” for amounts “earned” and/or payment for reimbursement of purported expenses by Wildes when she was acting as an agent, servant, employee, and/or in concert with Defendants.

Rather than acknowledge her role in Profit Connect, which the SEC alleges was a $12 million Ponzi scheme, Wildes doubled down.

Wildes disputes liability and has argued that at least portion of the funds identified by the Receiver, should not be attributed to her and/or that she entitled to retain certain funds based on services she rendered for Profit Connect.

Thus instead of returning the full $127,188 stolen from Profit Connect investors, a $90,000 settlement comprise was reached.

Wildes wishes to resolve the dispute and the Receiver believes it is in the best interest of the Receivership Estate to resolve the same rather than incur costs and fees in litigation.

As such, the parties have executed a Provisional Settlement Agreement, subject to approval by this Court.

The court approved Wildes’ $90,000 Profit Connect settlement on December 30th, 2024.