Source: https://masonreceivership.wordpress.com/
Timestamp: 2017-06-28 15:38:14
Document Index: 528716602

Matched Legal Cases: ['§ 1', 'art 1', 'art 2', 'art 1', 'art 2', 'art 1', 'art 2']

Mason Receivership | Up to date information concerning CFTC v. James Harvey Mason et al.
On March 27, 2013, the Commodity Futures Trading Commission filed a civil complaint against James Harvey Mason as Defendant and The JHM Forex Only Pool (f/k/a The JHM Forex Only Pool, LP), and Forex Trading At Home as Relief Defendants, case number 3:13-cv-196, in the United States District Court for the Western District of North Carolina. The CFTC alleges that Defendant fraudulently solicited, accepted and pooled funds to trade off-exchange foreign currency contracts and ultimately misappropriated a significant portion of those funds for purposes other than forex trading, all in violation of the Commodity Exchange Act, 7 U.S.C. §§ 1 et seq.
Also on March 27, 2013, the Honorable Graham C. Mullen issued an order appointing Joseph W. Grier, III of Grier Furr & Crisp, PA as temporary receiver (the “Receiver”) for the Defendant and Relief Defendants. This order directs the Receiver to, among other things, take custody, control and possession of all funds, property and other assets in the possession or control of Defendant and Relief Defendants and to perform all acts necessary to hold, manage and preserve the value of such assets.
Defendant has every right to defend against the CFTC’s complaint and has not yet been adjudicated liable for the claims alleged. Although the Court may ultimately order the Receiver to liquidate Defendant’s and Relief Defendants’ assets and to make a pro rata distribution of the proceeds to investors, the Receiver’s initial focus is on investigating the financial affairs of Defendant and Relief Defendants and preserving assets available to the best of his ability. Accordingly, individual investor information is not needed at this time.
This website will be the Receiver’s primary means of communication with investors and the public. The Receiver will use this site to provide updates on the status of the receivership and to post pleadings entered in the civil action. Please be encouraged to post questions on this site, and the Receiver will answer those questions as time and resources allow, with a focus on fielding inquiries that have general applicability to all investors and/or the public. You may also communicate with the Receiver at masonreceivership@grierlaw.com. Please check back periodically for additional information.
Receiver Submits Final Report and Accounting to the Court
On September 15, 2016, the Receiver filed his Final Report and Accounting (linked below) in the Mason receivership case.
de190-final-report-and-accounting-mason
Order Entered Approving Final Distribution
On April 5, 2016, the U.S. District Court for the Western District of North Carolina entered an Order (see link below) authorizing the Receiver to make a second and final distribution of $205,000 to claimants, as set forth in greater detail in the Receiver’s motion for authority to make final distribution. The Receiver will make the final distribution in early May, once the 30-day period in which parties-in-interest may appeal the distribution order has expired. This will be the final distribution made by the Receiver in this case, and, once all the checks have cleared, the Receiver will seek to be discharged from his duties and the case will be closed.
Order Authorizing Final Distribution
Orders Entered Approving Final Fee Applications for Receiver’s Attorneys and Accountants
Order Granting Second and Final Accountant Fee Application
Order Granting Ninth and Final Attorney Fee Application
Receiver Files Final Pleadings Seeking Authority to Make Final Distribution and Otherwise Complete Administration of the Receivership Estate
On March 8, 2016, Joseph W. Grier, III, Receiver, filed various pleadings seeking authority from the Court to take various actions necessary to complete his administration of the receivership estate.
First, the Receiver filed his ninth report to the Court summarizing the Receiver’s efforts to marshal and collect assets, administer the receivership estate and otherwise perform the duties mandated by the Court.
Ninth Receiver Report
Exhibit A – Ninth Receiver Report
Exhibit B – Ninth Receiver Report
Exhibit C Part 1 – Ninth Receiver Report
Exhibit C Part 2 – Ninth Receiver Report
Second, the Receiver, filed a motion to approve the distribution of $205,000.00 in receivership estate assets to customers holding allowed claims against the receivership estate pursuant to the “rising tide” distribution method previously adopted by the Court. With this first interim distribution, the Receiver’s intent is to ensure that all customers will have received — either through pre-receivership withdrawals, the Receiver’s prior distribution and the Receiver’s proposed distribution, or a combination of the three — a total return of at least 33.6649491855% of their deposits into the Ponzi Scheme.
Please review the spreadsheet below, find your account number(s), and double-check that, with respect to your account(s), that the amount listed in the “Current Distribution Amount” column plus the (absolute value) of the amounts listed in the (a) “Pre-Receivership Distributions” column and (b) “Post-Receivership Distributions To Date” total an amount greater than or equal to 33.6649491855% of the amount listed in the “Pre-Receivership Contributions” column. If there is a discrepancy, please contact the Receiver at: masonreceivership@grierlaw.com.
In addition, the Receiver seeks authority to pay $14,263.63 into the registry for the U.S. District Court, representing funds disbursed to James Mason as social security benefits. The Court previously held that the Receiver was not entitled to disburse such funds to victims of Mason’s Ponzi Scheme.
Motion to Make Final Distribution and to Pay Social Security Funds Into Court Registry
Exhibit A Part 1 – Motion to Make Final Distribution and to Pay Social Security Funds Into Court Registry
Exhibit A Part 2 – Motion to Make Final Distribution and to Pay Social Security Funds Into Court Registry
Third, the Receiver filed a final motion for accountant compensation for the period of March 27, 2015 through the close of the receivership estate to Middleswarth, Bowers & Co. The motion for compensation seeks professional fees and reimbursement of expenses in the total amount of $4,653.11.
Final Application for Payment of Accountant Fees
Fourth, the Receiver, filed a final motion for attorney compensation for the period of October 6, 2015 through the close of the receivership estate to Grier, Furr & Crisp, P.A. The motion for compensation seeks professional fees and reimbursement of expenses in the total amount of $20,905.42.
Final Application for Payment of Attorneys Fees
Fifth, the Receiver filed a Motion for Approval of Final Receiver’s Report and Accounting and Dismissal of Receiver, which asks the Court to dismiss the Receiver from his duties under the Receivership Order upon the Receiver filing a final report verifying that the distributions contemplated in the above-described motions have been completed.
Motion for Approval of Final Report and Accounting and Dismissal of Receiver
If you do not want the Court to approve any or all of these pleadings, or if you want the Court to consider your views, then on or before March 28, 2016, you or your attorney must do the following: (1) file a written response explaining your position with the Court; (2) mail, fax or email a copy of your response to the Receiver; and (3) attend a hearing on your response, if the Court schedules a hearing.
If you or your attorney do not take these steps, the Court may decide that you do not oppose the relief the Receiver requests and may enter an order approving these pleadings.
Order Entered Approving Receiver’s Eighth Fee Application
Order Granting Eighth Fee Application
Receiver’s Eighth Report
The Receiver has filed his eighth report to the Court summarizing the Receiver’s efforts to marshal and collect assets, administer the receivership estate and otherwise perform the duties mandated by the Court.
Eighth Receiver Report
Exhibit A – Eighth Receiver Report
Exhibit B Part 1 – Eighth Receiver Report
Exhibit B Part 2 – Eighth Receiver Report
Receiver’s Eighth Fee Application
Joseph W. Grier, III, Receiver, has filed a motion for compensation for the period of April 1, 2015 through September 30, 2015 to Grier, Furr & Crisp, P.A. The motion for compensation seeks fees of $27,373.50 and reimbursement of expenses of $251.65, for a total of $27,625.15.
If you do not want the Court to approve this motion, or if you want the Court to consider your views, then on or before November 17, 2015, you or your attorney must do the following: (1) file a written response explaining your position with the Court; (2) mail, fax or email a copy of your response to the Receiver; and (3) attend a hearing on your response, if the Court schedules a hearing.
If you or your attorney do not take these steps, the Court may decide that you do not oppose the relief the Receiver requests and may enter an order approving the motion for compensation.
Notice – 8th Application for Payment of Attorneys Fees
8th Application for Payment of Attorneys Fees
Exhibit A-1 – 8th Application for Payment of Attorneys Fees
Exhibit A-2 – 8th Application for Payment of Attorneys Fees
Exhibit B – 8th Application for Payment of Attorneys Fees
Exhibit C – 8th Application for Payment of Attorneys Fees
Categories	Pleadings
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