As I mentioned yesterday, I actually had a chance to speak with the lead prosecutor on the case last week shortly after the news broke. Apparently Ms. Monaco had been contacted by a number of us so she wasn't too surprised by another call. Her advice was pretty straight-forward, which was to ensure that we all contact the Victim-Witness co-ordinator and get our names on their list. I have posted the name in an earlier post however for those of you that may have missed it here it is again: lisa.foster@usdoj.gov
Aside from this, Ms. Monaco did mention that she felt they should seize close to $20MM in assets. Potentially, more if more sources are discovered. She went on to say that one house that was searched was completely empty. One can assume that potentially an associate of MacCaull's had been able to clean it out prior to the arrival of the feds.
Finally, when asked how long I should expect the recovery process to take, she exclaimed that with trial and everything she would guess close to 2 years...which is apparently a lot better than the victims of the Evergreen Scam which took close to 5 years to resolve. One of the main differences between Evergreen and Razor FX is that most of the funds were kept in the US with Razor FX, which should also help for recovery. According to Ms. Monaco, Evergreen had bilked over $100MM and only $6MM was seized due to the offshore movement of the money. In Ms. Monaco's opinion, at this early stage she felt much more optimistic that a more substantial level of asset recovery should be expected for the victims of Razor FX primarily due to the lack of involvement with foreign financial institutions.
Please note, this was just her opinion and in no way legal advice. She strongly suggested that I retain the advise of a legal expert in this field...which I shall do once I save up some money :).
In the meantime, I have sent an email to the Victim-Witness Co-ordinator and Ms.Monaco explained that we will likely get an update later this week or next.
Time to start moving on with life.
Monday, January 21, 2008
Talking to the Feds
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3 Comments:
Great Blog, TFI!
Do keep up with it. I am feasting my eyes on anything related to the scam and your blog is comforting as well as informative.
Thanx!
Also, will you and Ms. Monaco be talking again? Like if they are able to sieze more $$/assets (???) I heard rumors that they they sieze more money.
Thanx!
Hi MC,
Ms. Monaco mentioned that she had many calls with people in the same boat as myself...I myself found her number posted on a message board. She was very helpful but she asked that further communication be handled through the Victim-Witness Co-ordinator.
During the call, Ms. Monaco did mention that they felt they had (or would) seize in the $20MM range, however they were still actively looking for more sources of $$$.
Also, any $$$ that is not fully recovered can be attempted to be regained from the principals of Razor FX in a civil suit.
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