Zeek Rewards victims recover up to 75% of losses
Remember when Zeek Rewards’ net-winner affiliates were running around telling the people they scammed the US government and Receiver were just looking to keep invested funds for themselves?
In a March 15th press-release, the Zeek Receiver has announced that, following a third distribution, Zeek victims have now received back up to 75% of their losses.
The Receiver’s third distribution saw 122,335 checks totaling $67.5 million sent out to victims.
If you previously have received a distribution payment from the Receivership, you will receive another payment in this distribution.
If you had recovered more than 60% from ZeekRewards prior to its shutdown, but less than 75% (using the rising tide method), you will receive a distribution in this distribution.
Distribution checks are being sent by United States mail and may take a week or more to be delivered to Affiliates in the United States.
Delivery of distribution checks to Affiliates that are located outside the United States will take additional time.
You may request a reissuance of your distribution check if you do not receive it timely.
I ask that you wait until at least April 17, 2017 to make such a request because addressing reissuance requests will reduce the amount of funds we have to make future distributions.
Pending the outcome of continuing clawback litigation, the Zeek Receiver is ‘confident that (the Receivership) will make a further distribution in the future’.
This claim that the government just wants the money for themselves, and the Receiver is getting rich off the victims is used in every Ponzi when the authorities shut down a Ponzi. It is always fun to watch those making this claim being proven wrong.
Sadly too many of the victims are convinced not to file a claim by the major promoters or their sponsor. They convince them if they do, they could be subject to having charges filed against them. This happened in the ASD Cash Generator case, and victims who would have received money didn’t file a claim. So the people who did got 100% of their money back.
I believe the Receiver will be successful in obtaining funds back from those winners who are refusing to give their ill-gotten gains back; not only here abut in the other countries where he has filed actions against them.
I do so hope that repugnant, sleazy, faux-nice guy douche-nozzle known as Tracy Davison aka “The 60 Second Millionaire” will be made to pay back all those hundreds of thousands of dollars he claimed he made through Zeek?
He’s probably still on the lam hiding out in the Philippines and last I heard, he’s most likely the man behind a recent bitcoin Ponzi scam and hiding under a fake name.
He once said on camera to some prospective suckers joining his “TSM” scheme that the only reason Zeek got shut down was because the US government didn’t like ‘the little guy’ trying to make money over those big, evil meanies (I guess he was referring to actual legitimate companies but that’s just my guess).
How on earth someone like him can walk around and not be completely and utterly paranoid as F**K about any number of people that he’s ripped off not wanting to take a piece of his scamming hide or for any federal agent types to suddenly loom out of nowhere and cart him off to prison, is truly beyond me.
Perhaps he DOES feel like that?
I tell you, these scams attract such a high grade calibre of people.
The whole problem with Zeek Rewards and Zeekler Penny Auction, is the message was sent to the public that is was legal, after distributors made calls to the North Carolina Attorney Generals office who said “Zeek Rewards is legal… all penny auctions are legal.”
After which, the receiver allowed it grow, for 2 years, into a big enough pile of money into the hundreds of millions of dollars. They could have stepped in a lot earlier if they really thought it was illegal.
Further to this, several TV stations in NC were also reporting the business as legal. There were many industry advocates, attorneys, accountants, publications, and top respected network marketing people who also said it was legal.
There were hundred of thousands of people, worldwide, joining while the receiver did nothing – for 2 years.
To recover 75% is very good, and shows the business model was not a ponzi.. I believe at the time of shut down Paul Burkes was slowing the earnings levels to extend the life of the program and make sure everyone continued to be paid for their efforts.
It is not unusual for a company to start with high earnings to get it going. The ACA is a Ponzi!, so is SS.
Shutting it down sure hurt the new members because not only did they lose the opportunity to be involved in the program, if Zeek had their checks or money orders that were not yet cashed, the receiver cashed them anyway.
Why? He could of just sent the monies back. How much of the money has gone to 5 years of paying the receiver and his staff? $300-$500 an hour? For 5 years! – if they are charging the going rate. Just 40 hours is up to $16,000! How much has it costs the losers now?
It is a fact that if the receiver is working, he’s getting paid from the Zeek money.
And there is unfair collection from net winners. The receiver has decided to let net winners from Ireland go free from legal action and keep their earnings. With this decision I think it is only fair to stop and remove all proceedings and reverse judgements.
To get 75% back is more than acceptable, when people knew full well it had risk, like any business, and were told the money was non-refundable, and to make earnings they had to work and qualify.
It should be obvious to everyone that net winners have probably long spent their earnings, as it has been 5 years now. Adding further financial burden to them, which they can’t pay back is not fair, especially when they did due diligence in the first place to confirm it was a legal program.
Many net winners are good people who were told by the experts and the North Carolina Attorney generals office that the program was legal – and they believed them.
Nah. Being a Ponzi scheme was the problem.
Investigations take time. Unfortunately regulation is reactionary.
The Receiver wasn’t appointed until after Zeek Rewards was shut down.
Not legally.
Nah. Using newly invested funds to pay off existing investors makes Zeek Rewards a Ponzi scheme, regardless of how much was ultimately recovered from scammers.
Yep. You expect authorities to sort out your Ponzi mess for free?
Ah, so that’s what you’re salty about. Here’s a tissue.
None of which negates the fact that Zeek Rewards was a Ponzi scheme.
You don’t get to keep illegal obtained funds, regardless of what you pretend to have believed.
I got a check today. This is a great start. Paul Burks got 14 years in Prison. He deserves it all.
I hope Chris Smith from Banners Broker get life in Prison. They were also arrested.
What can I do to claim my money back please? Thanks
What an idiotic statement. Let’s ask the losers.
Would you rather lose 100% of your money going to scammers, or recover 75%?
Without the efforts of the courts and receiver, 100% is lost!!! They deserve to be compensated for their professional time. Be grateful for anything recovered.
You can’t, that ship has long sailed.
@Char
I think it’s pretty obvious Sethman is a net-winner. Nobody else has any reason to be salty about victims getting 75% of their losses back.
Really, got documentation for that?
When local TV news tried to claim such, NC AG forced the TV station to pull the news segment AND revise the web article.
Besides, it’s Zeekler that’s the penny auction.
Get your own facts straight before pointing fingers. Stop living in your own reality distortion field.
Hi, didnt receive my check.
dose anyone know where i can request a reissuance check?
Thanks.
From the Receivership.