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Zeek Rewards Receiver To Finish Processing 40,000 Claims

11:42 AM, Jan 20, 2014   |    comments
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LEXINGTON, N.C. -- Receiver Kenneth Bell says he's almost done determining more than 40,000 additional claims filed in the wake of the Zeek Rewards Ponzi scheme.

The determinations tell the claimants the amount of their claims recognized by the receiver.

Bell said in a statement, "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."

The U.S. Justice Department says Lexington-based Rex Venture Group, d.b.a. Zeek Rewards, took at least $600 million from hundreds of thousands of investors across the world.

Read: Federal Charges Filed In Zeek Rewards Case

In December, officials liquidated the company's assets. Autographed guitars, country music memorabilia and a warehouse were among the items sold at auction. The receiver's office sent out more than 80,000 notifications on determinations. 

Bell said his department received more than 170,000 claims. At least $300 million has been recovered.

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