The last Zhunrize defendant holding out has settled with the Receiver.

Todd Spencer was named as a clawback defendant in the Zhunrize Receiver’s
$2.8 million Vodaware lawsuit
.

Through Vodaware, Spencer is believed to have received upwards of $350,000 in stolen Zhunrize investor funds.

Our last update on Spencer’s clawback litigation was in February, wherein it appeared
Spencer was dragging his feet on settlement
.

Specifically, Spencer had failed to provide the Receiver with requested discovery.

In an April 24th motion requesting dismissal of the Vodaware lawsuit, the Zhunrize Receiver disclosed he

has now entered into a Settlement Agreement with the sole remaining Defendant, Jeffrey Todd Spencer.

Details of the settlement have not been made public.

Spencer’s settlement brings an end to the Vodaware clawback litigation. The case was formally terminated by order on April 26th.

Spencer’s settlement was the final task pending completion by the Zhunrize Receiver.

Following the
return of $41.2 million to Zhunrize victims
, we expect an announcement regarding completion of the Receivership shortly.

🤖 Quick Answer

Who is Todd Spencer and what was his role in the Zhunrize fraud case?
Todd Spencer was the last defendant in the Zhunrize fraud case to settle with the court-appointed Receiver. He was named as a clawback defendant in a $2.8 million lawsuit, accused of receiving over $350,000 in stolen investor funds through Vodaware, a company allegedly used to facilitate fraudulent transfers from the investment scheme.

What was the status of Spencer's settlement negotiations before April 2024?
As of February 2024, Todd Spencer appeared reluctant to settle, actively delaying the settlement process. He failed to provide the Receiver with requested discovery materials, prolonging the litigation and complicating efforts to recover stolen investor funds through the clawback lawsuit against him.

What outcome resulted from the Zhunrize Receiver's April motion?
In an April 24th

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