Matt Lloyd’s MOBE settlement approved + updates
Orders filed on December 19th have approved the proposed settlement between the Receiver and MOBE owner Matt Lloyd McPhee.
QualPay’s and Synovus Bank’s long-running campaign to acquire millions in fraudulently obtained funds also appears to be finally over.
Details of Matt Lloyd’s settlement were disclosed by the Receiver last September.
The settlement as originally proposed was approved by Judge Dalton on December 19th.
Synovus Bank’s claim to $6.3 million in fraudulently obtained funds dates back to the TRO granted in 2018.
In a nutshell, QualPay was MOBE’s credit card processor. The company held MOBE victim funds in an account in a Synovus Bank account.
That account held $6.3 million, which QualPay and Synovus argue is theirs to keep. The MOBE Receiver argues those funds are the property of the Receivership.
To date the two parties have filed at least four motions since mid 2018, attempting to introduce themselves as interventions with valid claims.
Each motion QualPay and Synovus Bank has filed has thus far been denied.
The latest motion was another Motion to Intervene, filed by Synovus Bank last September.
Synovus Bank argued it had
a constitutional right to appear, litigate, and present argument and evidence to support its rights to the Reserve Fund.
The court disagreed and denied the bank’s motion.
Synovus Bank and QualPay are free to participate in the victim claim process.
The court dismissed Synovus Bank’s argument that “that the claims process will be inadequate to address its claims”, given the process doesn’t exist yet.
At heart, Synovus wants special treatment—it wants to cut the line of the other creditors and scheme victims.
Not really liking QualPay and Synovus’ chances via the claims process, but we’ll have to see how that pans out.
Update 22nd January 2020 – Synovus Bank filed an appeal on January 15th.
Not liking their chances of success through an appeal either.
Update 2nd June 2020 – QualPay’s campaign has come to an end following a suspended $46.7 million settlement with the FTC.
glad it is comming to an end. Helps maany people lost including mme.
Thank u.
Appreciate the sentiment but no need to thank me, I’m just reporting. Full credit to the FTC and MOBE Receivership.
More information on any possible payouts to people like myself who lost every penny of my retirement to the tune of $100,000.00 and now at 67 am forced to work full time to make enough to live and pay my healthcare bills???
There is no information.
I will be happy to thank the FTC and the Receivership when I receive the thousands I have lost.
When will the people most impacted by MOBE be made right! The membership to MOBE has had negative effects throwing many into dire straits, financial ruin, and extreme stress.
Please give at the least a tentative timeline or date to the conclusion of this debacle.
There is no timeline. Also keep in mind you won’t receive back everything you’ve lost.
You’ll receive a percentage of it, assuming you have a valid approved claim when the time comes.
If there as many claims as there is people in the Facebook group. My $60k I may get 2k.
I have paid over 100,000.00 and would like to if there are any changes to get some money back.
Not at this time.
Article updated noting Synovus Bank’s appeal.
Curious on how they are going to issue any refunds, How does one get listed on the victim list?
There is no list.
This is crazy. I feel bad for all those people who lost all their money.
If it sounds to good to be true it usually is. This is the case with Matt Lloyd and his greedy, slimy, charlatans.
There is no get rich quick scheme that pays you have to pay the price over a period of time, serve first then success will come. So sorry you all lost your hard earned money.
The only financial winners in this are the attorneys, as usual. BTW, Matt is back on FB building his list. Ugh!
$6.3 million is nothing. Hope there will be a victim list soon.
Where do i submit a claim if one of the victim.
No claims process for MOBE.
I too have lost over 75K plus 14k with Steven Brands field for the mentorship.
With this huge loss, I’ve had to sell my house and move. How does the FTC contact the victims in the M.O.B.E. cases?
If they did contact victims I imagine it’d be through the MOBE affiliate database.
Yeah, I’ve lost around $11,000 to MOBE. Like everyone else, I want my money back too but don’t know if/how to go a about it.
The worst thing is that he’s back on Facebook uploading videos and marketing crap as if nothing’s happened
I Followed all the training in each of the education programs. I started a corporation.
I spent almost 25,000.00 and just after I paid over 2000.00 for the marketing to my websites and paying for additional traffic to a website with no merchandise to sell because it was linked to the library of licensed merchandise that we all purchased.
I was never informed of anything by anyone. I just found out from FTC that all the training websites were closed and I no longer had access to anything.
I put in a complaint to FTC. I have not received any notice from them yet.
My credit is ruined and my name exposed to the dark web. How do I correct that?
MOBE was a scam. You got scammed. You need to accept this.
If you sent off a complaint to the FTC for shutting down a pyramid scheme, then no wonder you were ignored. I suppose they could still have sent you a polite “lol gtfo” email but I digress.
There’s been no distribution payments to MOBE victims, nor is there a timeline.
You can keep track of what’s going on either here (major updates) or on the MOBE Receivership website – bernet-receiver.com/appointments/mobe/
You can’t.
These guys thought they were slick as sh_t! I hope they have looked under every rock to expose hidden monies.
I would put money on the fact they have it disguised somewhere or under someone else’s name. Either way not worth a persons peace of mind.
It is very bad JuJu indeed they brought on themselves. They think they are being slick……but there is no place they can hide from the universal laws.
To the extent of the low vibrations they put out in scamming so many trusting people is the extent it is surely on its way back to the them.
On that note I can have empathy for them in hopes they have learned a life lesson in integrity.
How do we find the MOBE victims names list also we have using the different email addresses also some document are missing it was saved in my desktop we have removed the devices too.
(Ozedit: snip, see below)
You don’t. If you signed up with multiple accounts, bogus information, registering your cat to rig the comp plan etc., then sorry for your loss.
As far as I know payments were sent out to victims verified against information collected by the Receivership. Not clear whether the FTC did their own additional verification.
I lost a lot of money too. I don’t really know exactly how much though.