This one’s a bit messy, so bear with me.

Following on from our February article “
How Payza & friends are screwing Zeek Rewards investors
“, efforts to recover funds from Zeek Reward’s shady banking operations continue.

Our players in this story are:

Payza – a payment processor synonymous with the MLM underbelly

Payment World – a Hong Kong based merchant processor Payza used

Banca Comerciala Victoriabank SA (VictoriaBank) – a Moldovan-based bank Payment World used to stash funds deposited into it by Payza and

Bank of New York Mellon – a New York based bank that Victoria Bank holds a “correspondent bank account” with

Under contention is some $13 million dollars in stolen Ponzi funds, currently
frozen via court-order
in VictoriaBank’s Bank of New York Mellon account.

The story so far has seen VictoriaBank give the Zeek Receivership the runaround.

After following the money and tracing it to VictoriaBank, the bank turned around and told the Receiver there is ‘
no evidence that this account and these funds are connected with RVG
‘.

This despite a paper-trail showing Zeek Rewards processing the funds through Payza, who processed the funds through Payment World, who deposited the funds with VictoriaBank.

The Receiver suspects VictoriaBank has since transferred the funds off into Russia somewhere, so a court-order was sought to freeze the owed amount in VictoriaBank’s Bank of New York Mellon account.

Pending today’s updates, that’s where we’re currently at.

Their plans to make off with $13 million in stolen Ponzi funds thwarted, VictoriaBank are none too happy about the February freeze on their Bank of New York Mellon account.

On April 19th VictoriaBank filed a motion requesting the Receiver’s contempt motion against the bank be dismissed and the asset-freeze dissolved.

VictoriaBank claim to be “astonished” by the court’s decision, arguing that the US court has “no power” over them.

The Receiver thus not only flouted the fundamental requirements of due process, but also basic standards of international comity.

Points of contention rasied by VictoriaBank in their motion include:

personal jurisdiction – “Victoriabank has no officers, directors, employees, agents, real property, offices, or branches in the United States”

that the Receiver failed to “obtain a court delegation rendering the 2012 Freeze Order enforceable in Moldova”

the funds frozen in the New York Bank of Mellon account “are not Receivership assets” and

that VictoriaBank was not properly served prior to the court-ordered asset-freeze.

Point one doesn’t seem to be relevant, as through Payment World and Payza, VictoriaBank ultimately accepted funds as a result of Zeek Rewards’ business operations.

VictoriaBank has money in the US and so that money is what the US court ordered frozen. Had the court of improperly ordered funds frozen in Moldova, VictoriaBank would have no doubt had a laugh about it and continued to give the Receiver the run around.

Point two is also irre

🤖 Quick Answer

What is the Zeek Receiver lawsuit about?
The lawsuit concerns $13 million in frozen Ponzi scheme funds from Zeek Rewards, involving multiple financial institutions across jurisdictions. The case tracks how Payza, a payment processor, routed stolen investor money through Payment World, VictoriaBank in Moldova, and Bank of New York Mellon, with courts freezing assets pending recovery.

Which financial institutions are involved in the Zeek case?
Four primary institutions are implicated: Payza, a payment processor; Payment World, a Hong Kong merchant processor; Banca Comerciala Victoriabank SA, a Moldovan bank; and Bank of New York Mellon, a New York-based correspondent bank holding VictoriaBank's account where disputed funds remain frozen.

What is the status of the disputed funds?
Approximately $13 million in stolen investor

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