USFIA Receiver seeks approval of ~$5 mill second distribution
The USFIA Receiver is looking to to make a second ~$5 million distribution to victims.
The second USFIA distribution follows an April 30th deadline for Chinese investors to verify payment details.
As noted by the USFIA Receiver, some 84% of USFIA victims are based outside of the US.
In addition to the April deadline, the Receiver advises any first round distribution claims not settled by June 30th “will be extinguished”.
The second USFIA victim distribution is scheduled to begin
no later than July 31, 2023, with a relatively short deadline (45 days) for investors to receive and cash their Second Distribution checks, or complete wire transfer and Paypal transactions.
The second distribution is expected to wrap up on or around October 15th.
The USFIA Receiver’s second distribution plan motion was filed on May 5th. A hearing on the motion has been scheduled for July 10th.
After the second distribution, the USFA Receiver is looking to close the Receivership.
No later than November 15, 2023, the Receiver shall file motions seeking approval of a final accounting, final fee applications, the discharge of the receiver and the closing of the receivership.
Note that while we do track Receivership news, BehindMLM is not technical support for Receiverships.
Anyone with questions regarding the first or second USFIA victim distribution processes is advised to contact the Receivership.