Lexington, NC -- The feds called Zeek Rewards a $600 million ponzi scheme based in Lexington.
We learned the court-appointed receiver has recovered nearly $300-million in cash. News 2's Lauren Melvin got her hands on the court documents filed by Receiver Ken Bell.
The receiver filed this preliminary liquidation plan on Tuesday.
It paints a picture of what his team has been up against since August, and why this is such a tedious process.
To be precise, the receiver team has recovered about $294 million in cash.
We're talking money that was stored in accounts at 12 different banks here in the US and at two international institutions. Some of that money was also in other funds.
The receiver also spent about $56,000 on payroll, benefits, taxes, rent and utilities.
The team is still working to tackle the real estate holdings.
Paul Burks owned the main Zeek Rewards office building and a warehouse in Lexington. But he also rented out space where he stored his electronic data. In fact, a significant amount of it was actually stored in Miami and Las Vegas.
The receiver knows there are as many as one million investors, and he wants to see that everyone who is owed money gets it.
At this time, they are working on a claims process for people, which has to be approved by the courts.
There's still no time frame as to when people will get their money.
But we do know that after they secure all of the assets the focus will turn to the people who benefited from the scheme.
The receiver says -- he plans to offer those who are required to return money to do so cooperatively to avoid litigation.
For more information, visit the Zeek Rewards Receivership Website.