As many of you know, David Svete was convicted on all counts and ordered to forfeit up to $21 million last week. The U.S. Attorney will undertake forfeiture efforts along with the receiver’s counsel. Svete’s sentencing is set for May 26th. You will likely receive a letter from the U.S. Attorney advising you of your right to be heard.
The Judge held a status hearing on March 9. Discussion centered on the need for a replacement for the credit facility and the possibility of selling a policy to generate funds for premium payments as well as expenses.
The Receiver is pursuing a $100,000 maturity but that is the only new one.
Please return your claim forms as soon as possible so all the
information can be cross checked and inputted.
Andrew Storar, Examiner