Balanko deposition back on for August 16th (Zeek Rewards)
In what might have been an attempt to avoid answering prickly questions about the whereabouts of $13.1 million dollars of stolen Ponzi funds, last month PaymentWorld sought to delay the deposition of CEO Roman Balanko.
Balanko appears to be at the heart of the missing funds, with his deposition expected to reveal crucial information that will aid the Receiver in its recovery.
In seeking a delay of Balanko’s deposition, PaymentWorld had cited two pending actions in California.
One of those actions is a Motion to Intervene, filed by the Receiver in a lawsuit initiated by Payza. PaymentWorld wanted both actions resolved before Balanko is deposed.
According to an August 9th filing, the Receiver’s motion to intervene has since gone in the Receivership’s favor.
With respect to the other action, Judge Mullen ruled ‘PaymentWorld has failed to meet its heavy burden to establish good cause‘ for a delay.
As it stands Roman Balanko’s deposition is scheduled to take place on August 16th.
It’s expected getting Balanko to answer questions on the record will aid in the recovery of $13.1 million dollars PaymentWorld is accused of making off with.
Footnote: Our thanks to Don@ASDUpdates for providing a copy of Judge Mullen’s August 8th order.