The SAEG Receiver has accepted 211 sufferer claims totalling $57,715,542.
Of the accepted claims, 160 had been for the quantity submitted. 51 claims have been accepted with a lowered declare quantity totalling $13.2 million.
In a July 18th filed Claims Report, the SAEG Receiver defined causes for the lowered or 48 denied claims.
These embrace claimants
- not deducting cash stolen by means of SAEG in opposition to their declare;
- claiming what they invested plus fictional returns they had been promised;
- failing to substantiate claims with documentation;
- submitting claims in opposition to non-defendants’;
- making an attempt to assert financial institution charges; and
- making mathematical errors
The SAEG Receiver has really helpful the court docket approve the Receiver’s claims processing. Claimants will be capable to problem the SAEG Receiver’s discovering after receiving a duplicate of the Claims Report.
SAEG was a part of a sprawling Ponzi scheme that had connections to OmegaPro and The Merchants Area.
The CFTC filed swimsuit in opposition to SAEG in February 2023. Neither OmegaPro or The Merchants Area are explicitly a part of the CFTC’s case.
Named particular person defendants within the CFTC’s SAEG case are Marcus Todd Brisco, Tin Quoc Tran, Francisco Story, Frederick Safranko (aka Ted Safranko) and Michael Shannon Sims (aka Mike Sims).
A number of defendants within the CFTC’s case have ties throughout SAEG, The Merchants Area and OmegaPro.