Thread: VIPinv lawsuit pays off

WOW!! This is a first. I received this from a friend of mine this am. Is SI next?

This should lead to some interesting discussions!!

"Here is a note from the attorneys going after SI, W2U and VIPINV.

++++++++++++++++++++++++++++++++++++++++++++++++++ ++
We want to take this opportunity to provide all of you an update regarding the status of the VIP Invest Litigation. As you are aware by now, we represented investors who filed a lawsuit against VIP Invest in July 2006. These investors had been defrauded by this illegal ponzi scam operation and VIP Invest was closing its operation and threatening to abscond with all of its investors‚ funds. We were successful in stabilizing certain accounts before the funds could be withdrawn and dissipated.

The case was handled as a class action lawsuit on behalf of all those who had sustained a loss. The final hearing in this case was held on August 22nd. The judge assigned to the case certified the class, entered final judgment against VIP Invest and its John Doe operators and authorized the distribution of recovered funds to the investors.

The class consists of 5,126 investors. You are considered to be a member of this class if you made payments or deposits to VIP Invest and sustained a loss, which is calculated as the sum of your deposits less any payments received (i.e., interest payment and/or withdrawal of principal). If you received more from VIP Invest than you put in, i.e., you are „in profit‰, you have not sustained a loss. In such a case you are not considered a member of the class and will not participate in the distribution. All calculations concerning deposits, payments, losses and profits are based on the records procured by us through the course of this litigation, including actual transaction histories. Therefore, loss calculations will not require the members of the class to provide us with „proof‰ of deposits or losses.

The range of losses sustained by members of the class ranges from a loss of one cent to $90,000 USD. The bulk of the members of the class lost an amount between $100 and $3,000.

Your net recovery will be approximately a third of your total loss. In other words, if your net loss was $300, you can expect to receive approximately $100 in the upcoming distribution and recovery phase. By all measures, this represents a substantial recovery on behalf of the class members, especially considering that ponzi operators routinely escape with 100% of their investors‚ funds.

In the coming days we will begin making distributions from the escrow account established in this case into your e-gold account for your pro-rata share of the recovery. The e-gold account that will receive the deposit will be the one from which your investment originated. The memo line for the transaction will reference the VIP case so you will know the source.

As you can imagine, processing and making payments to more than 5,000 accounts is going to take some time and we ask that you be patient through the coming weeks. Sending emails inquiring about the status of the recovery will not speed up the process and, in fact, will only slow us down. We will work hard to get this done as quickly as possible.

We want to thank you, in advance, for your cooperation and consideration. We will continue to remain in touch and will provide additional updates as warranted.

Michael J. Bruzzese
The Bank Tower, Suite 1008
307 Fourth Avenue
Pittsburgh, PA 15219
Tel. 412.281.8676
Fax. 412.281.8046

Scott Michael Hare
Bartony & Hare, LLP
Law & Finance Building
429 Fourth Avenue
Suite 1801
Pittsburgh, PA 15219
Tel: 412/338-8632 "

do you have a link for this?

wow...

Originally Posted by jimmymack

WOW!! This is a first. I received this from a friend of mine this am. Is SI next?

There is no need for SI since refunds are about to start regardless of what the "so called" experts have to say.

Originally Posted by chicosan

There is no need for SI since refunds are about to start regardless of what the "so called" experts have to say.

chico,

We all hope so!! That would be miraculous for those of us who have been kept purposefully in the dark!

so no, there is no link?

I have seen no evidence supporting jimmymacks claim

Hi triple a,

This was an email from someone who was supposedly in the know (we all know how that really goes...) so I passed it on to you all for discussion and feedback.

As with EVERYTHING any of us receives, it all is suspect and needs to be taken in its own context.

Hope all is well with you

It's been over a month since this was posted.

Has anyone received a payment yet?

Car accident attorneys understand the language and policies of leading insurance companies. They're skilled at recreating crash scenes or finding evidence to prove you weren't at fault. If you've been the victim of a car crash, a car accident lawyer can help you hold other drivers responsible for negligent or reckless driving.

http://www.lawyersintampa.com/accident-lawyers/