Hooray, received my check on Monday the 10th.
30% already deposited in the bank.
:D 8) :lol: :groovy: :superman:
I received the 2nd check I was due today. So untill the final disbursement occurs after the rest of the properties are sold, I am caught up. Hang in there if the checks haven't arrived. They are coming. I got mine quicker as I live in the Atlanta area.
JY
:roll: :crying: I haven't gotten anything yet I hope it is not lost in the mail or something! :shake:
Well my name is Vincent Rose,I live in Virginia Beach,VA and I got my check Monday. Hope this helps
Vince
I'm still waiting for my check, in New York City. I too am worried about it being lost in the mail. My last name begins with "R."
Sounds like about half of us who log on this site have received checks, and half have not.
If I don't receive it by Monday, 9/17 I may call or email Hays, just to see if it was sent.
My understanding is that Hays sent out the smallest checks first and then is working their way up. Both of my checks were small. One under $5k and the other just over $5K and I received the smallest one one first and then a few days later the bigger one.
Hope this helps
I know at least 3 people in AZ who had invested 5000 and have not yet received their checks. I know of 2 in AZ who had invested 15,000 and have received their checks. I also know of 1 in AZ that invested over 50,000, and 1 who had invested over 75,000, who have not yet received their checks. My brother, who lives in MI, invested 10,000, and received his check last Saturday. My parents, who also reside in MI, had invested 20,000 and have not yet received their check. I don't see any correlation between where they fall alphabetically, how much was invested, or where in the country people live. It would be nice to know what order they are sending the checks out in, if any order at all.
Hello everyone...my husband invested 10k and he got his check several days ago. I invested 30k, and still didn't receive any payments. Since our last names are the same, do you think they are using our first names? My husband starts with A, and my name starts with F. Please comment.
I know several people with the same first letter of their first name. Some have received their checks, some have not. The last names of those I know that have been paid, and those I know who have not yet been paid, are scattered throughout the alphabet. The invested amounts of those I know have been paid, and those I know who have not yet been paid, is as low as 5000 and as high as over 75,000. The order of payment also does not appear to be related to the order of when the original investment was made, or the order of sending in the claim forms. I just don't see any pattern of payment.
Based on inconsistency of payments I think the only possible logic they are using could be based on claim numbers which were assigned to us when we submitted our claims.
rkny: Maybe, but only if the claim numbers were not related to the order Hays received the claims. I know people who submitted their claims the same day, and some in the same envelope to Hays, where 1 received their check and the other has not received theirs yet. Some people who waited until the last minute to submit their claim have received their check, and early submitters have not. I'm confident everyone will receive their checks though ... eventually.
I plan on contacting Hays the middle of next week if my check does not arrive. I will admit, I will be on pins and needles until it is in my hands.
all this waiting Hays should have had all figures in computer and just pressed PRINT or called ADP to have them do them.. DIDNT they have five weeks or something waiting for the judge. JUST MY OPINION havnt recieved mine yet.. AS to monday I hope the judge throughs the book at ONEIL!!!! as for me I can't make it I'll be on a plane to PENN. for work GOOD LUCK ALL P>S> does anyone know what 30% of 30,000 is I thought so just that easy :superman: :superman: :beer: :beer: :violin: :violin:
Loss/Claim Statistics
Number of claimants with loss/claim of $500-549,999: 1
Number of claimants with loss/claim of $450-499,999: 0
Number of claimants with loss/claim of $400-449,999: 1
Number of claimants with loss/claim of $350-399,999: 2
Number of claimants with loss/claim of $300-349,999:1
Number of claimants with loss/claim of $250-299,999: 9
Number of claimants with loss/claim of $200-249,999: 12
Number of claimants with loss/claim of $150-199,999: 12
Number of claimants with loss/claim of $100-149,999: 38
Number of claimants with loss/claim of $95-99,999: 4
Number of claimants with loss/claim of $90-94,999: 5
Number of claimants with loss/claim of $85-89,999: 8
Number of claimants with loss/claim of $80-84,999: 11
Number of claimants with loss/claim of $75-79,999: 11
Number of claimants with loss/claim of $70-74,999: 6
Number of claimants with loss/claim of $65-69,999: 2
Number of claimants with loss/claim of $60-64,999: 12
Number of claimants with loss/claim of $55-59,999: 13
Number of claimants with loss/claim of $50-54,999: 41
Number of claimants with loss/claim of $45-49,999: 26
Number of claimants with loss/claim of $40-44,999: 35
Number of claimants with loss/claim of $35-39,999: 47
Number of claimants with loss/claim of $30-34,999: 51
Number of claimants with loss/claim of $25-29,999: 55
Number of claimants with loss/claim of $20-24,999: 119
Number of claimants with loss/claim of $15-19,999: 110
Number of claimants with loss/claim of $10-14,999: 273
Number of claimants with loss/claim of $9500-9999: 13
Number of claimants with loss/claim of $9000-9499: 23
Number of claimants with loss/claim of $8500-8999: 13
Number of claimants with loss/claim of $8000-8499: 18
Number of claimants with loss/claim of $7500-7999: 58
Number of claimants with loss/claim of $7000-7499: 26
Number of claimants with loss/claim of $6500-6999: 9
Number of claimants with loss/claim of $6000-6499: 36
Number of claimants with loss/claim of $5500-5999: 9
Number of claimants with loss/claim of $5000-5499: 394
Number of claimants with loss/claim of $4500-4999: 57
Number of claimants with loss/claim of $4000-4499: 16
Number of claimants with loss/claim of $3500-3999: 97
Number of claimants with loss/claim of $3000-3499: 27
Number of claimants with loss/claim of $2500-2999: 56
Number of claimants with loss/claim of $2000-2499: 20
Number of claimants with loss/claim of $1500-1999: 13
Number of claimants with loss/claim of $1000-1499: 30
Number of claimants with loss/claim of $500-999: 19
Number of claimants with loss/claim of less than $500: 5
Median loss: $9375 (Just as many claims with an amount higher as there are with an amount lower)
Average loss: $21,981 (Total claims/total claimants = 40,050,169.57/1844)
I got my check and my friend too! 30% everything is OK! :D :lol: :clap: :woohoo:
Dear Investors,
We are working diligently to release your First Interim Distribution checks as quickly as possible. However, in my final review, I uncovered an issue that my office had not caught in processing the proof of claim forms.
Many investors made their investments in their individual name and in a corporate name, but filed only one proof of claim form in their individual name. This appears to be due to the fact that Pinnacle maintained the records in this manner and this was not caught until I verified actual checks to Pinnacle. In this situation, it is appropriate to pay the entity that actually invested the funds and not the individual. While I could have let all of the checks be mailed and take a chance that no third party would later object, I decided it was appropriate to delay and correct these checks and this slowed down the entire process as we reviewed claims again to determine the original payee. I have drafted a declaration that we will use to resolve this issue to clarify the proper payee and authority of the officer signing for the corporate entity. We will be contacting the investors that commingled personal and corporate accounts and ask them to sign the declaration as a representative of the corporate entity or in some situations we be splitting the claims into two separate claims. This is for the protection for the Estate in case there are other possible owners of the corporate entities.
Checks are not being released according to any set pattern, as speculated on this blog, but rather as they are reviewed one last time to make certain the above issue is resolved.
We have released approximately two-thirds of the total checks and will be releasing more each day as we review again and resolve any issues. I expect that the bulk of the remaining checks will be released over the next week.
The hearing to sentence Gene O'Neal was this morning. I testified at the hearing as did several investors regarding the impact of their losses. The Judge sentenced to him to 12 years in prison, followed by 3 years of community supervision and $22 million in restitution to investors and other creditors.
The following is a link to an article published this morning following the decision: http://www.bizjournals.com/atlanta/stories/2007/09/17/daily8.html?t=printabl
I apologize for the delay and appreciate your continued patience. If my staff has not returned your call, please note it is because they are very busy trying to resolve these issues and get all the remaining checks in the mail. Please give us this week to finish this process.
S. Gregory Hays, Receiver
Thank you. Thank you. Thank you. Not to belabor the point but, thank you, straight to my money market account. I assume it will be awhile before we ascertain how long it will be before this cash cow is permanently exhausted.
I read the recievers note and I am trying to be patient, but still no check. The account that I had was in my own name. :cry:
The other thing is, how is Gene O'Neal supposed to pay $22 million from jail? I am new to this kind of thing so if anyone knows, please explain.
Mr. Receiver,
To ease the pain of those like myself who have of yet to receive any payment, would it to be to much to ask if a posting on your site or this site indicating that a check has been mailed to the individual. Is that too much to ask or is that an invasion of one's privacy? It is very exciting to read about peoples lives changing again with the hope of receiving some sort of money back from their nightmarish investment. Any response would be appreciated.
I am sorry but taking the time to publish a list of which checks have been released would dealy the process. I did release a large stack of checks today in individual names that have been mailed and I am working late tonight to get more of them out in the morning.
I apoligize for the dealy and I am working as fast as I can to get these checks out while being 110% certain they accurate. As mentioned in my prior post, the dealy is a result of double checking for coporate funds claimed on individual claim forms.