Update From Receiver and Reaction
Dave Kettner <email@example.com>
Tue, 28 Aug 2012 3:29 PM (1 hour 52 minutes ago)
Hey Zeek Samurai Kazoku!
There was a press conference with the SEC appointed receiver Mr. Kenneth Bell yesterday and you can access the details from here: http://budurl.com/h8vv
I think you will see really quickly when reading this press release that the SEC and Kenneth Bell are NOT out for the best interest of the so call Zeek Rewards “victims” as it was announced that all of the uncashed checks that the receiver has in their possession WILL be cashed in order to get the funds to be able to pay back the “victims” at a later time. Huh? So they are cashing the “victims” checks instead of sending them back directly to the “victims” making them wait much longer? You tell me if this sounds right?
Troy Dooly states in his recent update that as previously thought, the liquid assets and income would be closer to double what is in the SEC complaint. You can see Troy’s update here: http://budurl.com/e2rg
. Hmmm, as I have been saying from the very beginning that Zeek was making a tremendous amount of money from the PAID Zeekler auctions and the Free Store Club that were not even mentioned in the SEC complaint. This information will further prove that Zeek was not a Ponzi scheme as they were able to pay its affiliates from the commissions from customers, not from the affiliate bid purchases.
Bell also made it clear that it would be a “long time” before any refunds are issued. Part of this is based on the amount of information he and his team must uncover. As we stated before, the Receiver and the government will try to milk as much as they can from the “victims” funds.
The other question highlights the fact that the receiver may use the federal clawback laws to collect all profits that were made by all Zeek Affiliates which will further delay the process of getting the funds back to the “victims” and get more funds into the SEC and Receivers hands.
Again, as with everything that has happened since the SEC illegally shut down our Zeek Rewards business, we are all VICTIMS of what the SEC has wrongfully and criminally done and continues to do. This is why we ALL (US, international, affiliates who made profits, affiliates who lost money) Zeek Rewards affiliates need to fight back for our legal rights by banning together and joining the law suit that we have put together through SNR Denton.
We need everyone’s support and you can join the protected group of unified Zeek affiliates by making as little as a $20 donation at http://ZTeamBiz.com
. Protected group means that you are legally protected by our law firm SNR Denton and will be part of the plaintiff group against the SEC.
SNR Denton was fully retained by us on Monday August 27, 2012 and all funds raised will continue to go into the fund to pay for the law suit. Please DO NOT CALL SNR Denton or our attorneys directly as they are only allowed to speak directly to Robert Craddock and a few others from our core group who begun this process. A press release will be coming soon with the process of everything moving forward.
Also, a website is being set up for all affiliates who donated money for the cause to include all of your needed information especially if it was not all submitted through PayPal correctly. So look for that to be announced soon as well.
Please be sure that you are signed up at http://budurl.com/zeeksamurai
for all newsletter updates. You can also find lots of information on our Facebook page at: http://budurl.com/7444
, please like the page and participate in the conversation. Also, please send ALL of your questions directly to Robert at firstname.lastname@example.org
. Please be patient as he is receiving tons of emails daily, but all emails will be addressed and answered.
I have included below what someone wrote to me last night and I think you will enjoy hearing his thoughts on the press release by Kenneth Bell that was released yesterday.
Chat soon and God Bless!
Do your research and you will see that as has been the case from the very beginning with the SEC, none of this seems right.
Well, so much for cashier's checks that had not been "cashed" yet being cancelled. Mr. Bell considers that his money to "lock down".
"Mr. Bell indicated that all cashier’s checks in his possession would be considered assets of Zeek Rewards and would be deposited and added to the pool of funds currently being amassed for victims."
So, let me get this straight: The guy that just sent his money in who's cashier's check is getting "locked down" isn't considered a victim.
But, someone sent in money a year ago. They are considered a victim, so the guy that sent in money two weeks ago gets his check cashed to pay the guy that sent in money a year ago.
Oh wait, that sounds like a Ponzi scheme to me. Someone should notify the SEC that Mr. Bell is running the receivership like a Ponzi scheme.
And what about those wonderful people who have decided to "jump on the band wagon" and file suit against Paul Burks: (ummm, sorry, not going to happen)
"any and all litigation brought against Zeek or its subsidiaries would be stayed and prevented from moving forward"http://www.forbes.com/sites/jordanmagli ... ort-ahead/
It appears as though there is only ONE HOPE of a positive outcome for all Zeek people and that is http://zteambiz.com
This is important to read and share with anyone you know who received "net gains" from Zeek.http://www.forbes.com/sites/jordanmagli ... clawbacks/
"it is almost certain that they will be the target of “clawback” lawsuits seeking the return of those profits"
“it would typically be inequitable to leave net winners from Ponzi schemes with their profits"
"By recovering these “false profits” from net winners, the receiver is able to increase the total amount of assets available for distribution."
"victims with nominal amounts of gains may escape prosecution due to the cost of litigation, investors with tens or hundreds of thousands of dollars in gains may not be so lucky"I would think that anyone who profited from Zeek should certainly take an active role in any litigation to prove the SEC's allegations to be incorrect - rather than just running to the next BIG DEAL.http://ZTeamBiz.com