Zeek claims to begin this week
Some measure of financial justice finally may be about to arrive for victims of the mammoth Zeek Rewards pyramid scheme.
A federal judge last week approved a proposed method for the more than 1 million estimated victims of Zeek Rewards — people from the High Point area to distant nations — to file claims for restitution. The judge’s decision comes nine months after the U.S. Securities and Exchange Commission shut down Zeek Rewards, which was based from a small office in Lexington, and termed the supposed online multilevel marketing business a $600 million Ponzi scheme on the verge of collapse.
The court-appointed receiver overseeing the Zeek Rewards case, attorney Kenneth Bell out of Charlotte, indicates that the claims process for victims should open Wednesday through the U.S. District Court for the Western District of North Carolina.
“That is still the date for the claims portal to go live,” Bell told The High Point Enterprise.
Anyone who wants to recover money lost in Zeek Rewards must go through the court-approved claims process, he said.
“In order to submit your claim, you must wait until the online claim portal opens,” Bell indicates in his latest report on the official website for the case, www.zeekrewardsreceivership.com.
Starting Wednesday, the online claim portal for seeking restitution will be found at www.zeekrewardsreceivership.com.
“Permission to submit a claim outside the online claim portal will be granted only in rare instances (and) will be in the receiver’s sole discretion,” Bell indicates.
The cutoff date for filing Zeek Rewards claims will be on or before Sept. 5, according to Bell.
Previously, Bell has indicated that he’s secured more than $300 million in assets from Zeek Rewards and its parent company, Rex Venture Group. But Bell has been candid in the past, saying that he doesn’t expect victims of the pyramid scheme to receive full reimbursement for money they lost.
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