Zeek Rewards Review- Scam

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The Zeek Receiver declared on May 19th, 2022, that the Zeek Rewards Receivership was closed. Final distribution has been completed and the receivership has been terminated administratively as of May 19, according to the Receiver’s May 19th statement.   

The final distribution checks were mailed out in January, and the company is now closed.   

On Wednesday, January 19th, we distributed more than 121,000 checks totaling $14.3 million to ZeekRewards Ponzi scheme victims.   

According to the Receiver, there will be no further distributions of those checks that have expired after the 120-day grace period has elapsed.   

“The receivership staff has confirmed that a reissued check will be delivered to you, and you should expect it in the next few weeks.   

A replacement check or wire transfer request cannot be processed at the moment.   

It’s a TelexFree thing, but the receiver also sheds light on Zeek victims’ claims of non-communication.    Requests for distributions and check reissues have flooded my inbox over the past few months.   

Over 129,000 claimants have prevented me from responding to individual communications about distribution-related issues. Despite my best efforts, I am unable to do so.   

Please be aware that the receivership has been terminated and that no further responses will be provided to messages pertaining to distribution as of this update.”   

For us, the same is true. For as far as we can remember, we have never provided tech assistance for receiverships or trusts. According to the Zeek Receivership, a total of 84% of victims’ losses were recouped.   

“To date, we have repaid more than $370 million to the victims.   

I’m pleased with the receivership team because of how hard they worked to give the claimants such a generous payout.   

Sincerely,”

Receiver: Matthew E. Orso, Successor   

The $900 million Zeek Rewards Ponzi scam (initially estimated at $600 million by the SEC) provides some context for the $371 million paid out.

Zeek Rewards was shut down by the SEC in August of that year. In February 2017, Paul Burks, the man behind Zeek Rewards, was sentenced to fourteen years in prison. At FCI Butner, a “medium-security federal penitentiary prison,” Burks is being kept. As of February 15, 2028, 75-year-old Burks is due to be released.

The Zeek Receiver declared on May 19th, 2022, that the Zeek Rewards Receivership was closed. Final distribution has been completed and the receivership has been terminated administratively as of May 19, according to the Receiver’s May 19th statement.    The final distribution checks were mailed out in January, and the company is now closed.   …

The Zeek Receiver declared on May 19th, 2022, that the Zeek Rewards Receivership was closed. Final distribution has been completed and the receivership has been terminated administratively as of May 19, according to the Receiver’s May 19th statement.    The final distribution checks were mailed out in January, and the company is now closed.   …

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