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Judge Extends Deadline For Zeek Rewards Receiver

10:01 PM, Jan 1, 2013   |    comments
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Lexington, NC -- A U.S. District Court judge approved the Zeek Rewards receiver's request for more time to respond to motions calling for his replacement, according to a spokesman.

Four Zeek Rewards participants directly involved in the case motioned to dissolve Ken Bell's appointment as temporary receiver. The four, David Sorrells, David and Mary Kettner, and Robert Craddock also want the court to appoint an examiner to monitor Bell's performance.

Bell asked the court to extend the deadline, and the judge granted his request, giving him until Jan. 11 to respond to the motions; Bell was initially required to respond Monday.

The court also granted Bell's request for more time to respond to another motion from the group. The four participants also motioned for Bell to release frozen, third-party assets, known as "e-wallets" in the case. The judge extended Bell's deadline to respond to this motion to Jan. 12.

The federal government determined Zeek Rewards, the investment program based around penny auctions, was a Ponzi scheme worth $600 million.

Bell's job is to return as much of the money as possible to victims of the scheme; he's currently recovered nearly $300 million.

Ken Bell/Winston-Salem Journal

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