Matt Lloyd settlements prompt stay on MOBE proceedings
The MOBE Receiver and Matt Lloyd McPhee appear on the verge of a settlement, prompting the FTC to file for a stay on all MOBE related proceedings.
A July 29th joint-motion filing reveals
After renewed negotiations with the Receiver, McPhee and the Receiver have reached an agreement in principle that would resolve the Receiver’s demand that McPhee turn over to the receivership his property interests.
Under the agreement, McPhee will either sell these properties or obtain financing in order to pay the value of his interest in these
properties to the receivership estate.
The Receiver and McPhee are in the process of drafting a binding settlement agreement.
Drafting the final agreement will require consultation with real estate attorneys in Fiji and Costa Rica, and the process could take several weeks.
The renewed settlement negotiations come after Lloyd refused to turn over his offshore luxury condos, private island and resort back in February.
In addition to settling with the Receiver, Lloyd (right) has also re-entered negotiations with the FTC.
FTC Staff and McPhee have also reached a settlement in principle on a proposed order for permanent injunction and monetary relief that would resolve the FTC’s claims against McPhee.
McPhee has agreed to and signed the FTC staff’s proposed order.
Details of the settlement agreement have yet to be made public.
Looking forward, the FTC’s settlement with Lloyd hinges on approval of the Receivership settlement.
In turn the FTC filing a renewed motion seeking default judgment against the MOBE corporate entities hinges on approval of their settlement with Lloyd.
To that end a stay has been requested on all MOBE related proceedings.
Mindful of not requesting an open-ended stay however, the FTC’s motion proposed the Receiver and Lloyd file either
- a motion for settlement approval; or
- an explanation as to why a settlement has not yet been reached
within twenty-one days of the motion’s approval.
At the time of publication a decision on the FTC’s July 26th stay motion remains pending.
Update 8th February 2020 – The FTC received their requested stay last July.
As at the time of this update, the FTC Commissioners are still yet to decide on the proposed Matt Lloyd FTC settlement.
On January 23rd the FTC requested another 45 day stay extension.
FTC staff anticipates that it may need an additional 45 days for the Commission to review and vote on the proposed order.
Pending approval or denial of Lloyd’s FTC settlement, stay tuned…
Henry here, I would like to know how can I get refund from MOBE membership fees.
My mentor is Dale Bundy one of senior member who achieved free car with MOBE program. This is in reference to my membership. Since I lost the copy of my full payments. He can testify that I am a paid member of MOBE.
Please let me know if theres anything needed.
You can’t at this time.
I would like my membership fees back. ZMatt Lloyd McPhee is a crook and living high on our money.
(Ozedit: see comments #1 and #2)
How will I know the outcome, I’m out 20,000 dollars. And my business is nothing at all. Where are the products we had the right to resale? How do we access them?
You’ll have to keep track of proceedings like the rest of us. The Receiver might send out an email notification to whatever your MOBE email account was but I can’t say for sure.
The products were offered through MOBE as part of the scam. MOBE is no more.
The sad part about this is no one will get their money back.
By the time all the court fees and the receiver gets his share, there will be little left. All the thousands of dollars you invested is gone.
Look at Digital Altitude. No one has gotten money back.
Of course they haven’t, Digital Altitude was shut down four months before MOBE. These messes take years to clean up.
Geez, the ignorance regarding the aftermath of an MLM scam shutdown is unbelievable sometimes.
You’re not going to get your money back, you’ll get some of it back – realistically sometime within the next five years.
I had bought in at diamond level, ca. 56,000, and my wife bought in at silver level, 1,250.
Both of us were supposed to receive compensation by Mobe of $600/mo for our cars, amounting to $28,800, which we never received.
Total outlay $86,050.00.
Mobe was supposed to provide for our retirement. I am 80, and my wife and I now have to get by on minimum social security payments.
Will we ever see any compensation for any of our losses?
You might see something at some point. There is no timeline.
I am very sorry to hear of your loss. This is why people like Oz spend their time warning folks against MLM scams like Mobe.
Consider filing a civil suit against the person who recruited you into Mobe. You have a very solid claim and they did make money off of you by convincing you to join.
This may seem harsh but it’s not nearly as harsh as the loss you have suffered.
After spending $2999 in the basic programme, I was told to invest $12,000 into the MOBE Titanium package that was sold to me by a ‘Born-Again-Christian’ of all people.
As with most people here, I’m fuming but don’t expect to see any refund.
If I do, I might regain some confidence and faith in the judicial system, but for right now, as far as I’m concerned, it’s all going to lead to disappointment (I hope I’m wrong).
I’ve since given up on all online and network marketing. I run my own business now, I do everything myself including creating, marketing, and selling my own fitness books and products.
I can now walk with my head up high knowing I’m not shafting people or becoming a slave to a sell-out company.
It’s the best move I’ve ever made since I’m not accountable to anyone (Thank God).
I just feel glad that the friends I introduced to MOBE, at the time, never joined.
Coroner’s report: Russel Whitney Jr. died on November 20th, 2018 of “Acute Combined Drug Toxicity (Heroin, Fentanyl, Acetyl Fentanyl, Oxycodone and Cocaine)”.
Article updated with news of FTC Commissions still not having decided on the FTC’s proposed settlement with Lloyd.