BULLETIN: Zeek Receiver May Push For Contempt Against Payza

breakingnews725BULLETIN: New court filings in the Zeek Rewards’ Ponzi- and pyramid-scheme case brought by the SEC in 2012 say Zeek receiver Kenneth D. Bell may ask a federal judge for a finding of contempt against Payza, a payment processor.

The news comes as federal prosecutors continue a criminal investigation involving Payza and Obopay, another payment processor. Prosecutors are expected to make an announcement on the Payza/Obopay matter soon.

Payza is  Ponzi-forum darling.

Some of the Zeek money ended up in Moldova, according to previous filings by Bell. Precisely how that happened remains unclear, but Bell says he is working with authorities in both Moldova and the United States “to locate and recover the funds.”

From a filing by Bell dated today (italics added):

The Receiver Team continues its efforts to investigate and pursue outstanding funds from the processing relationship and flow of funds between Payza, Payment World, and Victoria Bank . The Team is working with government officials in both the United States and Moldova and with members of McGuireWoods Consulting to locate and recover the funds. The Receiver Team has also begun efforts to file a motion against these entities seeking the return of receivership assets and for a finding of contempt. The Receiver Team continues to investigate and pursue outstanding funds from Solid Trust Pay and Cyberprofit and is working with various government agencies in pursuit of these assets.

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One Response to “BULLETIN: Zeek Receiver May Push For Contempt Against Payza”

  1. Not only the receiver Kenneth D. Bell looking in to Payza. DOJ has updated their site and they will continue to look in to the Payza/Obopay issue to see if there has been any criminal activity by ether party. This is while people are complaining on Payza Facebook site and over twitter that deposits and withdrawals are taking VERY long to clear. And Payza is currently using a card processor in China.

    From DOJ website
    The United States government, including Homeland Security Investigations and the Washington, D.C. Financial Crimes Task Force, continues to conduct a criminal investigation. As part of that investigation, the United States Attorney’s Office for the District of Columbia has requested a United States District Judge to pause current civil litigation relating to Payza and Obopay. The Judge has extended the pause in litigation until April 29, 2016. Shortly thereafter, additional information will be made available on this website about the status of this investigation.

    If you have questions or concerns about your Obopay or Payza account, please email USADC.OBOPAYZA@usdoj.govEmail links icon or call 202-252-1903. Please include your name, email address, and contact information in your message. Someone will respond to your email or call within 3 business days.