UPDATE FROM RECEIVER – January 17, 2014
We have recently added a link on Zeekrewardsreceivership.com that will allow you to check the status of any timely, fully submitted claim(s) that you filed through the Claims Portal (the “Status Check Link”). The Status Check Link can be accessed at the following address: https://cert.gardencitygroup.com/zrwdet/fs/home. The Status Check Link will allow you to log in to a webpage using the userid and password you selected when you registered on the Claim Portal. After logging into the Status Check Link, you will be brought to a webpage that will inform you whether your claim determination has been issued and will also permit you to confirm or update your contact information, as necessary. Please make sure that any contact information that you submitted is up to date so that when a claim determination for your claim is completed, you will receive notice that your claim determination has been completed. If your claim has been determined, upon logging in, you will be prompted to review your claim determination.
If, after logging in, the Status Check Link shows that your claim has not yet been determined, please be patient. We are working hard to determine all fully submitted claims of Affiliates as quickly as possible. Please do not call or email me to request the status of your claim as this will slow the claim determination process for all parties. Moreover, all entities making such requests will, to the extent they receive a response from the Receivership Team, be directed to the Status Check Link to obtain such status.
If you cannot log in after following the Status Check Link because you cannot remember your userid or password, you will be able to recover these items from the website.
If you receive the following message, it indicates we do not believe you finally submitted a timely claim:
We have located the account associated with the Registration ID and password which you have tried to use to log in to check the status of a claim. However, our records indicate that no claim was finally submitted for this Registration ID.
Before contacting the Receivership Team however, please confirm that you do not have a separate Registration ID under which you have filed a completed claim by clicking on the link below and selecting “Forgot Registration ID” and entering the email address that you have used to register. An email will be sent to the email address which you provide and that email will contain a list of Registration IDs associated with that email address.
If you believe this is an error, please contact us through the address listed in that message and we will evaluate your assertion.
If you filed a claim by an alternative method approved by me in writing, you will receive your claim determination through a paper submission.
Finally, we wanted to update you on the claims reconciliation process. We are nearing the completion of the determination of more than 40,000 additional Affiliate claims. These claim determinations will be finalized in the next few weeks and will be sent out in large groups. We will continue to send email notices of determination to all individuals holding such claims. Please check to see if your claim has been determined using the Status Check Link listed above.
Thank you again for your patience and support in this process.
Kenneth D. Bell
UPDATE FROM RECEIVER – December 31, 2013
To Affiliates and Other Claimants of Rex Venture Group, LLC
On December 27, 2013 we began sending out more than 80,000 emails notifying claimants that their Letter of Determination is available for review. The Letter of Determination tells claimants the amount(s) of their claim(s) recognized by the Receiver. While I tried to make this process as understandable as possible, judging by the number of emails and phone calls, there is a lot of confusion and misunderstanding about how this process works. I write this message to answer the most frequently asked questions.
While we have sent more than 80,000 Letters of Determination, we have received more than 170,000 claims, so roughly 90,000 claimants have not yet been sent a Letter of Determination. Every affiliate claimant will receive a Letter of Determination as soon as we are able to review and evaluate the claim. We are working hard to get this done as quickly as possible for every affiliate claimant. If you have not yet received a letter of determination, you will. Please be patient, and do not send emails or leave voicemails asking when you will get your Letter.
Many claimants who have not yet received a Letter of Determination are trying to login using a link forwarded to them by a claimant who has received a Letter of Determination. This will not work. The link will only allow a claimant who received an email notifying them that their Letter of Determination is available for review to login to the system.
Many claimants who received a Letter of Determination report that they cannot login because their Claim ID and/or password are not being recognized. This is because the claimant has forgotten one or both, or created more than one User ID or password, and is trying to login with the wrong one. If a claimant is having trouble logging in, please use the User Name Recovery tool that is linked to the login page on the portal.
Many who have received a Letter of Determination are confused about the amounts recognized. For every claim we "recognize" two amounts: the amount of money the claimant paid to Rex Venture Group/ZeekRewards (referred to as "Receivership Defendant") before August 17, 2012, and the amount of money Rex Venture Group/ZeekRewards (again referred to as "Receivership Defendant") paid to the claimant before August 17, 2012. Both numbers are important in determining how much money will be paid to each claimant once the Court approves a Distribution Plan. Some claimants look at the line showing "Payments from Receivership Defendant" and mistakenly think this is the amount of their claim recognized by the Receiver. "Payments from the Receivership Defendant" is simply the amount (if any) paid to the claimant by Rex Venture Group/ZeekRewards before August 17, 2012, that is, before the Court appointed the Receiver. It is NOT the amount of the recognized claim. Claimants can Accept both of the amounts ("paid to" and "received from"), or object to one or both of the amounts.
Many claimants ask if they still have to complete the online forms even if they Accept the Determination. The answer is yes, and the reasons are explained in Claims FAQ 33. Some claimants report difficulty completing the forms online. We have thoroughly tested, and continually test, the ability to submit these forms to be sure the online process is working properly.
Many claimants ask if completing the W-9 or W-8 (and perhaps later receiving an IRS Form 1099) means they will have to pay tax on a future distribution from the Receivership. Receiving a Form 1099 does not necessarily mean that a claimant will owe taxes on the future distribution. Each claimant's tax situation is different, so I encourage each claimant to consult with his/her tax preparer or professional advisor. We are simply required, by applicable law, to report to the IRS if the Receivership distributes more than $600 to any claimant.
Because Forms W-9 and W-8 require a Social Security Number or Tax Identification Number, many claimants ask if that information will be safe and protected. Please be assured that it is and will be.
Do not send any documents directly to the Receiver. The only Court approved Claims Process required claim information to be provided through the Claim Portal. Documents sent to the Receiver will not be accepted or reviewed. Also, do not send emails to or leave voicemails for the Receiver directly. They are not read or listened to. All correspondence should be sent to email@example.com. Every email sent to that address is reviewed and forwarded to the Receiver as appropriate. It is impossible to respond to every individual question, email or call. Common questions are answered by postings at Zeekrewardsreceivership.com. All available information and updates are posted there.
Thank you for your patience in this process.
Kenneth D. Bell
UPDATE FROM RECEIVER – December 27, 2013
I am pleased to report that more than 80,000 Notices of Claims Determination are being sent to Claimants in the ZeekRewards case between today, December 27, 2013, and December 31, 2013. These notices direct individuals who have had their Claim Determination issued to log in to the Claim Determination Portal to review their Claim Determination. Such notices are being sent from the email address ZRWDeterminations@tgcginc.com.
To those of you that have received a Claim Determination, please follow the instructions provided in your Claim Determination to either accept or object to the Claim Determination. Do not send emails to ZRWDeterminations@tgcginc.com regarding your Claim Determination. That email address will not be monitored. Any email sent to that email address will be deleted without being read.
If you have not received a Claim Determination, please do not contact the Receiver. Not receiving a Claim Determination notice at this time does not mean that your Claim is not valid. It only means that we have not completed our review of your Claim. Certain Claims will take additional time to evaluate and may require us to make further contact with you before we issue a Claim Determination. We are and will be working hard to reconcile all Claims and send all Claims Determination as soon as we are able to do so.
UPDATE FROM RECEIVER – December 20, 2013
On December 20, 2013, the United States Attorney for the Western District of North Carolina filed federal charges of Conspiracy to Defraud the United States against Dawn Wright Olivares and Daniel C. Olivares, along with the plea agreements that each defendant entered. The Government also filed a motion asking the Court to appoint Kenneth D. Bell as Special Master in this criminal proceeding to make proposed findings of fact and recommendations to the Court regarding the identity of victims and the proper amount of restitution owed to such victims, among other items. The Court granted this motion.
A copy of the Bill of Information, Plea Agreements, Motion to Appoint Special Master, Order Appointing Special Master, and the press release from the U.S. Department of Justice are available at the links below.
UPDATE FROM RECEIVER – December 20, 2013
On December 20, 2013, the Securities and Exchange Commission (SEC) filed a complaint against Dawn Wright-Olivares and Daniel Olivares alleging the unregistered offer and sale of securities, fraud in the offer and sale of securities, and fraud in connection with the purchase and sale of securities. To settle the SEC's charges, both defendants consented to judgment. Wright-Olivares agreed to pay at least $8,184,064.94 and Olivares agreed to pay at least $3,272,934.58. A copy of the SEC's complaint, both consents, and the SEC press release are available at the links below.
UPDATE FROM RECEIVER – December 19, 2013
The Receiver held a press conference on Friday, December 13, 2013, in Lexington, North Carolina at the site of the Receivership auction. At this press conference, the Receiver discussed the status of the Receivership claims process, among other items. Click the link below for a video of the relevant portion of the press conference.
December 16, 2013
To Affiliates and Other Creditors of Rex Venture Group, LLC:
Many of you seem to be confused about an email notice that was sent to you late last week or over the weekend. We sent you notice that we filed with the Court a Motion For Order Approving Distribution Procedures and Certain Other Related Relief because we are required to do so. We want you to know what we are planning to do in this case. There is nothing you need to do regarding that motion unless you want to file an objection with the Court to our plan for eventually making distributions to recognized claimants or the other relief requested in the motion.
The filing of this motion does not mean that we are about to begin making distributions on claims. Please read my letter posted on December 13, 2013 for more detail on where we are in that process.
Please do not call my office or send emails to me asking for a “status” on your claim. I simply cannot respond individually to as many as 170,000 claimants. Also, do not call or email me with change of email address or other contact information. FAQ 32 on this website tells you how to update your contact information.
I will post an update on this page when Claim Determinations begin going out later this month.
NOTICE OF AUCTION OF REAL AND PERSONAL PROPERTY OF RECEIVERSHIP DEFENDANT OCCURRING DECEMBER 16 – 17, 2013
The Receiver has given notice of his intention to sell at auction certain real and personal property of the Receivership Defendant. The real properties will be sold at public auction to be held on the 16th day of December, 2013, at 12:00 p.m. at 4095 Old Salisbury Rd., Lexington, Davidson County, North Carolina. The auction of these properties will be in conjunction with the personal property auction that will be held the 16th and 17th of December, 2013 commencing at 9:00 a.m. both days.
For additional information, including descriptions of the real and personal property to be auctioned and further information regarding auction procedures such as bidder qualifications and fee schedules, please visit the RVG Auction website (www.ironhorseauction.com/ZeekReceiverDay1 and www.ironhorseauction.com/
ZeekReceiverDay2), or contact Iron Horse Auction Company at (800) 997-2248 or (910) 997-2248.
For Notice of Public Auction of Real and Personal Property here.
On December 12, 2013, the Receiver filed a Motion Requesting an Order Approving Distribution Procedures.
On October 22, 2013, Judge Graham C. Mullen issued an Order approving an extended claims deadline of December 1, 2013 at 11:59 P.M. (prevailing Eastern Time) for certain parties (the “Extended Period”). The only entities that are permitted to assert claims during the Extended Period are (i) affiliates whose financial institutions paid the Receiver on or after August 1, 2013 for stopped payment instruments and are thereafter charged or debited by their financial institutions for these items and (ii) financial institutions seeking to file a subrogation claim on behalf of their affiliate customers after paying stopped payment instruments to the Receiver on or after August 1, 2013.
Please see FAQ 29 for additional information.
THE CLAIMS FILING PERIOD FOR ZEEKREWARDS CLOSED AT 11:59 P.M. (PREVAILING EASTERN TIME) ON SEPTEMBER 5, 2013.
On May 8, 2013, Judge Graham C. Mullen issued an Order approving (I) Claims Process, (II) Setting of Bar Date, and (III) Approving Notice Procedures. Pursuant to that order, the claims filing period opened May 15, 2013 and closed September 5, 2013.
On August 17, 2012, the Securities and Exchange Commission ("SEC") filed a Complaint in United States District Court, Western District of North Carolina, Charlotte Division, against Rex Venture Group, LLC ("Rex Venture") d/b/a ZeekRewards.com ("ZeekRewards"), and Paul R. Burks. The SEC alleges that Rex Venture and Burks fraudulently offered and sold securities in an unregistered offering as part of a combined Ponzi and pyramid scheme.
On August 17, 2012, Judge Graham C. Mullen issued an Order appointing Kenneth D. Bell of McGuireWoods LLP as temporary receiver (“Receiver”) for Rex Venture Group, LLC d/b/a ZeekRewards.com. The August 17th order directs the Receiver to, among other things, take control and possession of and to operate the Receivership Estate, and to perform all acts necessary to conserve, hold, manage and preserve the value of the Receivership Estate.
This website will be the Receiver's primary means of communicating with customers and the public. Please check back periodically for additional information.
Updates From The Receiver
12-19-13: December 13th Press Conference
12-13-13: Letter from the Receiver
10-15-13: Letter from the Receiver
9-6-13: Letter from the Receiver
8-2-13: Letter from the Receiver
5-9-13: Letter from the Receiver
3-29-13: Letter from the Receiver
3-1-13: Letter from the Receiver
1-7-13: Letter from the Receiver
1-4-13: Letter from the Receiver
12-24-12: Letter from the Receiver
10-30-12: Letter from the Receiver
9-13-12: Letter from the Receiver
8-27-12: Letter from the Receiver
8-20-12: Press Release
FAQ 32 - How do I update my contact information (address, phone number, email address) if it has changed from when I originally submitted my claim(s)?
If you would like to update the contact information (address, phone number, email address) you provided in a previously submitted claim, you may do so by and clicking on "Update/Change Contact Information for a Previously Filed Claim." You may then log into the address portal by using your logon information for the Receiver's Claim Portal (not your user name and password for your original Zeek Rewards account). Upon logging in, you will see the contact information you previously provided in your prior claim submission. Please make any necessary updates/changes to your contact information on this page and submit this information. The Receiver may ignore any change in this information submitted through alternative means.
FAQ 31 - I received an E-mail requesting further information regarding my ZeekRewards User Name, is this a legitimate request?
Yes, the Receivership Team is seeking to reconcile claims with the books and records of ZeekRewards and is requesting further information from those individuals who either did not provide a ZeekRewards User Name or provided a ZeekRewards User Name that was not valid. Please follow the link provided in that E-mail so that you can provide a valid User Name, or inform the Receivership Team that you cannot locate or do not have a ZeekRewards User name. If you did not receive an E-mail requesting this information, you are not required to take further action at this time.