Today the receiver for Zeek Rewards/Rex Venture Group, Kenneth Bell hosted a call for Zeek Rewards affiliates who are still out of pocket.
We recorded the call for those who could not make it.
Here are the top take away points that we took from the call:
- $500-600 Million in funds are needed to pay back all the net losers.
- They currently have over $300 Million and are in the proccess of getting more back from some offshore accounts and from the Net Winners.
- They have 840,000 people (usernames, some people had multiple accounts…) who lost money (Net Losers).
- They have 77,000 people (usernames, some people had multiple accounts…) who made money (Net Winners) 1,200 of these were big Net Winners and have been sent info from the receiver to try and get their funds back. This will become formal very soon. A lot of these people have bought property, cars, boats etc.
- By the end of January there will be a claims process and will be loaded up on the www.zeekrewardsreceivership.com site.
- This site will be live for a couple of months for people to have time to get all the info together and give it to the receiver.
- They hope to do an inital payment out, but will not be able to do this until after the claims info has been setup, so maybe around June 2013 and at this stage it is looking at around 50-60 cents on the dollar.
- So if you purchased 10,000 bids and took zero money out from the company you may get back around $5,000 – $6,000 in June 2013, this was our take on the info we have heard.
- The remaining funds will be distributed later once they have finished collecting all of the funds.
- There is a few people that are filing papers against this and it is eating up a lot of funds that we will never get back, most of this is being done by people like Robbert Craddock, Dave and Mary Kettner, people who took a lot of money out of Zeek. They do not want to sell their holiday homes and luxury boats and cars so that the people who made nothing can get their money back.
- Some of these people such as Robert Craddock have even asked for funds from affiliates directly to help their fight. The thing that is most wrong about this is that they asked for funds from Net Losers, and tricked them into giving them money saying they were going to fight it and re-open Zeek Rewards……. this is not going to happen, EVER! Kenneth Bell IS Zeek Rewards and there is no way he will ever open Zeek Rewards for business ever.
- All that Robert and his merry men are doing is hurting the Net Losers even more, and delaying the claims process!
Like 1 million other Zeek Rewards affiliates around the world, we were hurt by the closure of Zeek Rewards, not just the lost money that we put into the business, but the lost potential income that we were counting on and never profited from, and the loss of faith from our team members who trusted us.
After the closure of Zeek Rewards in mid August, instead of crawling into a hole and grasping at false hope that Zeek Rewards was going to re-open after the receiver admitted they made a terrible mistake, we took action.
We joined another company with a similar compensation plan to Zeek Rewards but a company that took note of the failings of Zeek Rewards and adjusted their compensation plan to fit well within compliance. We joined while the company was in pre-launch, and have worked hard to build a large international team.
The company has been live for over a month now and we are very pleased to say that every single qualified person on our team have been paid every day. You can find out more about the GoFun Places business opportunity here
What are your thoughts on the process? Is Kenneth Bell on our side? Or do you support Robert Craddock’s law suit against the SEC?