The collapse of Zeekler as reported in Digital Journal
occurred in August. The hours of work that Kenneth Bell, the court appointed receiver investigating ZeekRewards and his team have invested in sorting out the Zeekler scam was reported by Digital Journal
A summary so far of information uncovered by the SEC
and Bell’s investigation
is as follows:
• There were about 2.2 million unique ZeekRewards users
• About 1 million of those users invested money in the program
• More than 800,000 affiliate user IDs put more money into Rex Venture than they took out.
• 98% of ZeekRewards’ revenues, and payouts to its affiliates, were from new investors funds.
• More than 100,000 affiliates made money on the program.
• Losses will total between $500 million and $600 million.
• Nearly $300,000,000 has been recovered in Receivership Assets.
• There may be tens of millions of dollars more of recoverable assets.
• More than 1,200 subpoenas have been sent to affiliates who gained financially.
• Profiteers are being asked to surrender their gains or face legal action
In his latest letters Bell writes:
“Among those from whom we intend to recover assets are those affiliates who took more out
of Rex Ventures than they put in.”
“To fill the gap between what we have recovered and what victims lost, we will pursue recovery
from those who took out of Rex Venture more than they put in.”
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