CEP update.. at Nobullshit Network Forum

okosh · 04-02-2008, 12:02 AM

Things are heating up...Should serve as a warning to anyone who promotes ponzi's through the forums...

Quote:

Pre-Trial Order. This document sets forth the course of the trial.

Trevor is characterized as the “pitch man”. The NewsCasts are being introduced into evidence along with postings on MMG and Talk Gold.

WAITING, WAITING, WAITING

YouSendIt - Send large files - transfer delivery - FTP Replacement

CEP receivers site for all the past news...
SEC v. Colon End Parenthesis Trust LLC

tulasu · 04-03-2008, 03:45 AM

What was the date on that order, Okosh? The most recent update on the SEC site was Feb 8th.

Thanks, Tulasu

okosh · 04-03-2008, 11:14 AM

Posted by Gold Kitty at MMG...And no was NOT April fools day joke

MMG is down so sorry, can't get the linkey for you right now but do a search for the CEP thread

**gaby** · 04-03-2008, 12:10 PM

Lol ...

i just took a look at the documents there ...

the receiver company has requested that for 80 days of work to be paid 152.000 $ and their Counsel for another 170.500 $ ...

the total expenses in these figures are 6.000 $ .. the rest is fees for their work ..

lol

okosh · 04-07-2008, 03:07 AM

Here is the linkey to the thread at MMG....

Colon End Parenthesis - www.colonendparenthesis.com - MoneyMakerGroup Forum

okosh · 08-27-2008, 04:08 AM

Quote:

August 18, 2008
Notice of Settlements

I have posted in the Documents section a notice and motion requesting the Court’s approval of settlements reached in several lawsuits filed against various investors with profits or preferential transfers.

The amounts listed in the motion described as “gross demand amount” represent all transfers to the defendant and were the total amount of each lawsuit’s claim. However, this amount includes all return of “principal” as well as any profits. For example, one defendant is listed with a gross demand amount of $37,500 with a $20,000 settlement. This individual invested $25,000 and received back $37,500, for a profit of $12,500. This settlement represents the full return of their profits of $12,500 plus $7,500 to resolve preferential payments he received.

A preferential payment generally is one received within 90 days of CEP filing bankruptcy. Under certain circumstances described by the Bankruptcy Code, CEP may recover those transfers that are assumed to give preference to certain investor creditors over others so that CEP may make a more fair distribution to all creditors. Investors against which I have asserted a preference claim, by definition, have lost money (or have after returning their profits). There are numerous lawsuits of this sort, so these settlements do not only represent people who have profited.

The financial circumstances of these defendants vary greatly and in many cases have deteriorated since CEP was shut down. In probably 95% of our settlements we review background information, personal financial statements, tax returns, credit reports and supporting documents such as bank statements and liability statements before settling with an individual at a substantial discount.

SEC v. Colon End Parenthesis Trust LLC

okosh · 08-27-2008, 04:09 AM

Quote:

August 20, 2008
SureInvest Settlement Hearing

Numerous comments were received regarding the recent omnibus settlement motion cited below in the August 18, 2008 post that have brought to my attention that I did not post the SureInvest settlement, motion and notice of hearing. That hearing had been originally set for August 26, 2008. As a result, I have had the SureInvest hearing reset for Tuesday, September 16, 2008 at 11:00 a.m. You will find the notice of hearing, the motion and the settlement agreement in the Documents section herein for your review.

These settlements with the three SureInvest defendants, including Donaker and Herron addressed in this specific settlement, will recover $750,000 when paid in full. That leaves almost $1 million not recovered, or over $300,000 each. We deposed these two defendants and their wives under oath and analyzed where and how the money was spent. A lot of money was spent on their attorneys (2 sets involved), in other business ventures, in their new homes, to pay down debts, and elsewhere. Unfortunately, it is typical that over 8 to 12 months that 95% of the defendants in the CEP cases have spent the money they’ve received from CEP. That’s why settlement is so difficult—the money is never sitting in T-bills earning interest and waiting for me to take it back.

Settlement is a function of weighing how much it will cost to pursue a claim to trial, estimating my likelihood of receiving an enforceable judgment at trial, and assuming success, what is my likelihood of collecting the judgment. And of course, if you succeed in finally getting a judgment, your costs don’t end. You may then have to proceed with post-judgment discovery requesting bank records, taking depositions of the defendant, etc., only to find that the money was spent gambling in Las Vegas.

The SureInvest settlement being heard on the September 16th hearing was the end result of a mediation with an experienced bankruptcy judge who heard both sides, examined the data each had put forward, and made her recommendations. Among other things, this settlement requires Donaker and Herron to sell their houses—into which a lot of this money was invested, and essentially start over. They were not happy with the settlement, I assure you, and neither was I.

SEC v. Colon End Parenthesis Trust LLC

corpus · 08-28-2008, 04:21 AM

this mean that for those who are in profit need to give it back the money plus extra fee?!

okosh · 08-29-2008, 12:39 AM

Quote:

Originally Posted by corpus

this mean that for those who are in profit need to give it back the money plus extra fee?!

YES!!!....Some of those in profit from this scamnow have judgements against them and are being forced to pay back not only their profits but also some of the origional money they put in....

So a $12500 profit became a $7500 loss...

This is called karma

corpus · 09-07-2008, 07:13 AM

Quote:

Originally Posted by okosh

YES!!!....Some of those in profit from this scamnow have judgements against them and are being forced to pay back not only their profits but also some of the origional money they put in....

So a $12500 profit became a $7500 loss...

This is called karma

are you serious?!!! that is crazy!!!!

I feel so sorry for those who had profit and lost....