Zeek Rewards net-winner scammers’ Fourth Circuit appeal denied
In an announcement published earlier this month, the Zeek Rewards Receiver has provided some updates on final distribution payments.
We’re a bit late on the Receiver’s May 6th announcement. Nonetheless in the Receiver’s latest announcement he reveals a Fourt Circuit appeal loss for certain Zeek Rewards’ net-winners.
Said net-winners objected to being ordered to return funds they stole from Zeek Reward victims in January 2018.
In their appeal, the Zeek net-winners asked the Fourth Circuit decertify the Net Winner class and reverse all prior judgments pertaining to the class.
That evidently went down like a ton of bricks in court and the Fourth Circuit denied the appeal in full.
Writes the Receiver of the appeal failure;
The decision of the Court of Appeals means that all judgments of liability against the defendant class members are now final.
Based on this decision, I will now move forward to pursue collection of the Judgments or their sale to a third party.
US based Zeek Rewards scammers who have yet to repay their victims, can expect debt collectors to come knocking at some point.
Of the Zeek Rewards net-winner class, there’s still about a hundred scammers whom the Receiver hasn’t pursued final judgement against.
The Receiver advises efforts to secure final judgment against these net-winners will commence this summer in the US.
With respect to final distribution payments the Receiver advises that, although he is tempted to issue an interim payment, it’s cost prohibitive.
Instead once the net-winner actions above are resolved (selling secured judgments to debt collectors and securing final judgment against remaining net-winners), and the long-running Payza VictoriaBank PaymentWorld case is resolved, Zeek claimants will receive a final distribution payment.
We appreciate the continued patience of the claimants and will of course continue to work to complete the Receivership as soon as possible.
No timeframe for final distribution has been provided.
I can’t see selling Zeek net-winner judgments to debt collectors taking more than a couple of months. Securing final judgments against the hundred or so left… maybe six months tops?
As for the Payza VictoriaBank PaymentWorld saga, last we checked in Payza had relinquished their interest in the $13.1 million to the Receivership.
Proceedings against VictoriaBank and PaymentWorld continue.