Beware of Zeek Rewards – Review

BehindMLM began getting complaints of additional payments mailed to Zeek Rewards victims around a week ago.

The Receiver verified today that these were the final payments.

The Receiver wrote in a February 2nd announcement:

I’m happy to inform you that the final distribution of the Receivership is well underway.

We distributed almost 121,000 distribution checks on Wednesday, January 19th. The victims of the ZeekRewards Ponzi fraud will get an additional $14.3 million in this last installment.

Please keep in mind that the checks expire after 120 days, therefore claimants who get them should deposit them as soon as possible.

We are still working on completing around 1,000 wire transfers to overseas claimants who requested a wire distribution.

Wire transfer distributions need a manual, time-consuming process that should be finished in March.

In August of 2012, the Zeek Rewards Receivership was formed.

After everything has been said and done, the Receivership has returned $371 million to the victims. On genuine claims, this equates to an 84 percent recovery rate.

The Receiver continues to address the disgruntled victims, seemingly uninformed that an 84 percent recovery is far from the usual for MLM Ponzi operations.

Many people have questioned why the distributions are less than 100% of each allowable claim.

The Receivership team has been working nonstop to collect as much money as possible from the ZeekRewards Ponzi scam and those who profited from it.

However, not all of the monies could be recovered, as with every Receivership.

Litigation was pursued against several parties, including the net winning defendant class members, the scheme’s insiders, banks, and other financial institutions.

I have aggressively pursued this case to the best of my abilities to collect as much money as possible for the victims of the ZeekRewards fraud.

I realize and respect that getting less than 100% of your money back when you invested in ZeekRewards was not your goal.

I’ve read several of your letters and talked with many of you.

I’m very aware of the hardships that ZeekRewards caused for thousands of people, as well as the long-term impacts of the plan on many others. However, I am delighted with the overall compensation received by claimants.

A recovery rate of 84 percent is exceptional for a Ponzi scheme with this many victims, and I am gratified that the Receivership team has spent less as a percentage of total recoveries than any other receivership I am aware of.

On September 21st, 2011, BehindMLM published its Zeek Rewards review.

Since then, we’ve published 232 pieces about the $900 million Ponzi fraud, including this one.

Updated on May 29th, 2022 – The Zeek Rewards Receivership was officially closed on May 19th.

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