It came to me too. It was worth the 27% more wait. Good luck to everyone. Thank you to everyone who informed us. Good days.

official statement

We are depositing the funds on a rolling basis between today and 13 January 2025.   We will send official communication with more detail about this to all investors receiving a wire tomorrow.

 

We do not currently have access to the payment tranche schedule to identify which day your payment will be made.   Please keep checking your account.  Please also note that sometimes it takes the receiving bank several days to credit the account. 

 

If he is not deceiving us, the money has been deposited, now all we have to do is wait, but if everyone writes that it is 27 percent more, we will understand how much they will deposit. If it does not come tomorrow, I will have to wait on Monday, hopefully it will come tomorrow.

It hasn't arrived yet, I live in Turkey, I hope it arrives tomorrow, God willing, I congratulate those who purchased it. It neither arrived in the mail nor did I receive any money. Did you receive an email regarding payment?

The payment was officially approved on November 26th, it was 10 days, if I take the upcoming holidays out, it was 25 days late. We are happy too, anyway, it will probably be paid within a week, thank God.

Unfortunately, we became stupid, first in the middle of the year, then at the end of the year, then at the beginning of January, then in January, let's see where this chain will extend, we came across so many amateur fund admins that are very unlucky in this regard, a fund manager who does not deserve the money he gets. It is our fault too, we did not complain to the SEC at the time. .

Unfortunately, we became stupid, first in the middle of the year, then at the end of the year, then at the beginning of January, then in January, let's see where this chain will extend, we came across so many amateur fund admins that are very unlucky in this regard, a fund manager who does not deserve the money he gets. It is our fault too, we did not complain to the SEC at the time. .

Hello,

 

No payments have been made yet and we do not have a set date of distribution; our goal now is to pay in January.  Communication will be sent with the amount of your distribution payment prior to the funds being released.

 

Kind regards,

 

KCC Class Action Services LLC

Fund Administrator


They were going to make the payment at the beginning of January, now it's January. This is a really annoying situation, everyone, please write an e-mail, claim your rights, the fund manager does not comply with the payment plan, complain to the SEC if necessary
 

I learn the update explanations from the SEC website,
They actually need to share these updates with us, for example, it is written on the SEC website that the payment approval was given on November 26.
But the fund manager is running the process very ridiculously, so I recommend that you constantly write complaint letters from the SEC website and e-mail.
The normal process will be completed in 10 business days next week, we should receive money next week, this order is written in the payment plan, I am waiting with curiosity to see what the fund manager will do.
The lawyer fee they charge is approximately 300,000 dollars, if they gave me half of it, I would complete these payments in 1 month, not 2 years.

https://www.sec.gov/enforcement-litigation/distributions-for-harmed-investors/matter-poloniex-llc-admin-proc-file-no-3-20455

They first said they would pay in the middle of the year, then they brought it forward to the end of the year, now they say early January, they are extending the process and extending it, when the commission gives an order, the escrow account is transferred by the commission staff within 1 day, this is the SEC rule,

The fund admin is an incompetent and slow-moving lawyer, unfortunately he is very unlucky in this regard, as I said, if you send an e-mail, they will realize their own mistakes and act faster.

I know people who calculate the payroll of 20,000 personnel in 3 days, they could not complete the same number of applications for years, despite being so slow, they receive 250 thousand dollars.

Everyone, please write an e-mail to the fund admin and state that they do not comply with the rules,

They have turned the process into child's play, they can make payments in one day if they want, they are dragging the business downhill.

Normally, the payment plan says that the money should be deposited at the beginning of December, but they are again making things worse.

Let's do the math: The Commission ordered the Respondent to pay $8,484,313.99 in disgorgement, $403,995.12 in prejudgment interest, and a $1,500,000.00 civil money penalty to the Commission.

Total: 10.388.000 $

Adding compound interest to this money according to years

2021 - 2022 interest rate 3% 10,388,000 *103/100=10,699,000
2022 - 2023 interest rate 5% 10,699,000 *105/100=11,234,000
2023 - 2024 interest rate 5% 11,234,000 *105/100=11,796,000

Total amount to be in the bank with interest: $11,796,000
Let's subtract the expenses Lawyer's fee: 11,796,000 - 215,459.05 = $11,580,000

Lawyers fee document: https://www.sec.gov/files/litigation/admin/2024/34-99517.pdf

The amount of $11,580,000 is much more than the amount to be paid to individuals and since it exceeds it, everyone will receive 100% payment + reasonable interest.

I initially wrote 105% but it is actually around 114%. The interest rate for 3 years is around 14% with compound interest.

I think I explained it in an understandable way, I did the calculations as it is written in the payment plan.

It says that the payments will be made within 10 business days after they are transferred to the escrow account.

I have good news for you, the commission approved the payment, the total payment is $4,584,409.75, since the total amount does not exceed the budget, everyone will receive 100% + 5% = 105% total payment,

Good luck to everyone,

Payment order approval link, https://www.sec.gov/files/litigation/admin/2024/34-101755.pdf

I think the payment will be made within 10 days.

They said it would be paid in the middle of the year, we have passed the middle of the year and still no payment has been made, the lawyers cannot do their job properly, it took almost 1.5 years for the files to be examined. I think this is a small company that cannot do justice to the legal fees they charge. I can't understand how SEC assigns duties to these lawyers. If it was a company that did its job properly, the plaintiffs would have already been paid.