WINSTON-SALEM, N.C. (AP) — A receiver says nearly half of those eligible for a settlement in the ZeekRewards.com Ponzi scheme have accepted the offer.
The Winston-Salem Journal reported (http://bit.ly/1ixmIcZ ) that more than 72,000 of the 150,000 claimants have agreed to the settlement conditions.
Receiver Kenneth Bell is working to pay claims of those who suffered losses in the $850 million scheme. ZeekRewards.com promised big returns on a small investment. Bell says about 400 claimants have objected to the payment amounts.
The U.S. Securities and Exchange Commission in 2012 accused Rex Venture Group LLC, Zeekler, ZeekRewards.com and owner Paul Burks of raising money through unregistered securities.
Regulators said the companies raised money from at least 2 million customers.
Bell said May 1 he planned to ask permission to begin playing partial distribution on the claims.
Information from: Winston-Salem Journal, http://www.journalnow.com