Receivership
Federal Trade Commission v. Ascend Capventures, Inc., et al.
On September 13, 2024 the Federal Trade Commission obtained a Temporary Restraining Order with an Asset Freeze from the U.S. District Court, Central District of California, and the Court appointed Stephen Donell as the Temporary Receiver.
FAQs
Does the Federal Trade Commission represent consumers?
The Federal Trade Commission does not represent consumers.
Stephen Donell has been appointed as Receiver by the US District Court for the Central District of California to, among other things, assume full control over the Receivership Entities named in the 09/13/2024 Order, and take exclusive custody and control of all of the assets, books and records of the Receivership Entities.
What is a Receiver?
For more information on the role of a Receiver, please follow this link.
After I register on the Receiver’s website for this case, do I need to do anything more at this time?
No, the Receiver’s office will email you if it requires any additional information.
Does the Receiver know if I will get my money back?
No, the case is still in its early stages and the investigation has just begun.
Has the Receiver reached any conclusions regarding the Company?
The Receiver has many observations as identified in the Initial Report. However, no conclusions have yet been reached as of September 2024.
If I receive an invoice from Ascend Capventures should I pay it?
No, the company is not engaged in business operations at this time.
I was recently contacted by a third party purporting to act on behalf of Ascend Capventures, ACV Partners, or another of the entities in receivership, and directed to direct my payments to a new address or bank. Are these communications legitimate and should I proceed as instructed?
No. The Receiver is vested with exclusive authority over the entities in receivership, including Ascend Capventures, ACV Partners, and their affiliates. Any communications you receive from any party purporting to be action on behalf of these entities are likely fraudulent, and should be reported to the Receiver.
I have been contacted by personnel in foreign countries regarding the management of my storefront demanding payment. Are these communications legitimate?
Likely no. While it is possible that Ascend Capventures, ACV Partners, or another of the entities in receivership may have outsourced the management of consumer storefronts to third parties, including in foreign countries, the information presently available to the Receiver suggests that such services were not provided consistently with the receivership entities’ agreements with consumers. Any personnel demanding payment for storefront operations or purporting to act on behalf of the entities in receivership should be reported to the Receiver.
The Receiver’s website contains filings titled Notice of Designation of Non-Party. What does this mean?
The court order pursuant to which the Receiver was appointed allows him to designate, under certain circumstances, additional corporate entities that he believes should be brought into the receivership. A designation of a non-party entity as a “Receivership Entity” means that the Receiver has made a preliminary determination that the non-party was subject to the common control of, and engaged in a common enterprise with, the defendant Receivership Entities and their principals, and that the non-party (and its assets, books, and records) should be brought within the Receiver’s control.
Is there a due date by which I must register on the Receiver’s website?
No, there is no due date to register on the Receiver’s website.
May I email the Receiver directly?
Yes – the Receiver, Steve Donell, may be emailed at: steve.donell@fedreceiver.com . Please allow a reasonable time for him to respond. As of October 2024, he is receiving a large number of inquiries from consumers. He may also have someone in his office reply.
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