On November 9, 2006, the Court issued an Order approving an initial partial distribution of $10,000,000. Checks were mailed to investors with court approved claims on November 17, 2006 (funds were escrowed for all other accounts).
If your investment was made with tax-qualified funds, you will receive a letter that states the amount of funds sent to the custodian of your Individual Retirement Account (such as Sterling Trust Company, Equity Trust, etc.). Please contact the custodian with any questions regarding these funds.
The Receiver and his staff are continuing to review the remaining Claims. As more claims are approved by the Court, we will make initial partial distributions to those investors in a timely manner.
Please note that funds were released ONLY to those investors whose Investment and Premium Claims have been APPROVED by the Court. There are approximately 400 claims that the Receiver’s office is still processing. If you did not receive a check, and have already submitted a claim, you probably have been contacted by the Receiver’s staff for additional information. Please return any requested information or documentation as soon as possible. If you have not been contacted, and you have questions about the status of your claim, please contact our office. You can call 405-607-2722, or you can send an email inquiry to firstname.lastname@example.org.
Once all submitted claims have been approved, and remaining claims issues resolved, the Receiver will seek approval from the Court for a subsequent distribution of sale proceeds. The Receiver anticipates that this distribution will occur sometime in 2007, but the timing and the amount cannot by estimated or guaranteed at this time.