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Distribution Plan Information



On May 8, 2020, a copy of the Notice of Receiver’s Motion to Approve (1) Classification; (2) Allowance of Claims for Certain Claimants (Administrative Claims, Convenience Claims And Former Employment Claims); and (3) Approving Distributions was mailed to the last known mailing address of those Claimants whose claims are the subject of this Motion. Please see the the Exhibits attached to the Declaration of Ronald F. Greenspan in connection with the Receiver’s Motion.

On March 31, 2020, the Court entered its Findings of Fact and Conclusions of Law, a copy of which can be found here. In its Order, among other things, the Court:

• Approved the Distribution Plan as expressly modified by the Receiver;

• Overruled any objections to the Receiver’s Distribution/Ponzi Determination Motion that had not been withdrawn, waived, settled, or expressly reserved pursuant to the terms of the Order;

• Permitted the Receiver to commence with distributions consistent with the terms of the Distribution Plan without further order by the Court, noting that all distributions shall be free and clear of any and all liens, claims, interests, and encumbrances;

• Directed each Defrauded Investor and other Claimant to cooperate and supply such information and documentation as is requested by the Receiver and his professionals to effectuate the Distribution Plan; and

• Made the Order binding in all respects on all creditors and interest holders of the Receivership Entity and their successors and assigns.

On December 31, 2019, the Receiver filed a Motion to Approve the Receiver's Distribution Plan and Determination of a Ponzi Scheme, a copy of which can be found here. On January 14, 2020, the Court approved the form and manner of notice regarding approval of the proposed distribution plan and Ponzi determination and set deadlines and the date of the hearing to consider the distribution plan. Please see the Court order here.

The following timeline was approved:

• Receiver to mail the Notice by first class mail to investors and other parties in interest by 1/24/2020. (A copy can be found here.)

• Written responses or objections to the Receiver's Distribution Plan Motion to be filed and served by 2/20/2020.

• Receiver to file his reply to any such written responses or objections by 3/20/2020.

• The hearing on Receiver’s Motion to Approve the Receiver’s Distribution Plan and Determination of a Ponzi Scheme will be held on 3/31/2020.



If you have questions about the Distribution Plan Motion or the process for the Court to consider and approve the Distribution Plan, please review information available on this website and the Claims Agent’s website (http://www.AequitasClaims.com), as well as the Frequently Asked Questions available on the Claims Agent’s website. You are also encouraged to consult legal counsel.

You may also submit an inquiry through this website or the Claims Agent’s website (http://www.AequitasClaims.com).

Key Documents

Findings of Fact and Conclusion of Law

Receiver’s Motion to Approve the Receiver's Distribution Plan and Determination of a Ponzi Scheme

Order (1) Approving Form and Manner of Notice Regarding Approval of Proposed Distribution Plan and Ponzi Determination, (2) Approving Procedures and Deadlines, (3) Setting a Hearing, and for Related Relief

Receiver's Motion for Order (I) Approving Form and Manner of Notice Regarding Approval of Proposed Distribution Plan and Ponzi Determination (II) Approving Procedures and Deadlines, (III) Setting a Hearing, and for Related Relief (Filed by Ronald F. Greenspan)

Notice of Hearing of the Receiver’s Proposed Distribution Plan, Proposed Finding of the Existence of a Ponzi Scheme and Your Right to be Heard