Zeek Rewards claims Q&A
Last week a federal court out of Charlotte began accepting claims from victims seeking restitution in the Zeek Rewards pyramid scheme.
Based from a small office on W. Center Street in Lexington, Zeek Rewards spent more than a year billing itself as an online multilevel marketing business. But on Aug. 17, the U.S. Securities and Exchange Commission seized the assets of Zeek Rewards and its parent company, Rex Venture Group, calling the supposed businesses a $600 million Ponzi scheme on the verge of collapse. Between 1 million and 2 million former Zeek Rewards affiliates could file claims, according to the receiver in the case, Charlotte attorney Kenneth Bell.
The receiver recently posted answers to common questions about the claims filing procedure. Here are some of the most pertinent questions and corresponding answers from the official case website (www.zeekrewardsreceivership.com).
How do I submit a claim?
You must use the receiver’s online claims portal. The link is found under the File A Claim tab on the website www.zeekrewardsreceivership.com. The receiver will require use of the online claims process in almost all cases in order to provide the greatest possible return to pyramid scheme victims and other creditors by keeping processing costs as low as possible.
How long do I have to file my claim?
Claims may be submitted online through 11:59 p.m. Sept. 5.
I know my ZeekRewards user name online, but I do not remember my password. Can I still file a claim?
Provide all the information you remember or to which you have access. Your claim won’t be disallowed for failing to provide a password.
Will I receive a response that my claim was received?
Yes. You will receive an electronic notification that your submission was received for processing through the U.S. District Court for the Western District of North Carolina.
When will my claim be approved?
The receiver will review claims as they arrive. It is not certain when a particular claim will be upheld or disallowed. However, the receiver will seek to determine all claims as soon as possible. You will receive a letter of determination once the receiver has made a decision on a claim.
When will I receive the money for my claim?
Payment for approved claims will be processed after the receiver gets court approval for a distribution of money. If possible, the receiver will seek to make an interim distribution of funds prior to a final payment.
I do not have all the information the receiver is requesting, such as missing dates or exact dollar amounts. Will incomplete information result in the disallowance of my claim?
Provide all the information you have available. Your claim will not be disallowed solely for failing to provide some types of specific information.
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