Federal Trade Commission v. Ascend Capventures, Inc., et al.

The Receiver is informed that a number of consumers appear to be receiving monthly invoices through Bill.com and transmitted on behalf of Ascend Capventures Inc., AC Ventures Global, and other entities in receivership.  Bill.com has represented to the Receiver that it is taking steps to ensure no further invoices are transmitted.  However, the Receiver has also confirmed that certain consumers received fraudulent invoices intended to mimic the appearance of the pre-receivership monthly invoices transmitted by Bill.com.  Neither Bill.com nor any third parties are authorized to transmit invoices to receivership entity customers in connection with this matter.  The Receiver encourages any customer receiving such invoices to view them with appropriate skepticism.  Customers are welcome to contact the Receiver’s office in the event they have a question about an invoice received from Bill.com or any third party.

The Receiver and his team continue to review information provided by consumers, as well as financial data produced by the Defendants and 3^rd party financial institutions. The analysis, investigation and review of all relevant data is an ongoing process that is complex. A forensic accountant has also been employed to provide assistance to the Receiver.

As of December 2024, there is no specific timeframe regarding a formal claims procedure. If you have subscribed to the Receiver’s website, and you are a consumer, this is all you need to do currently. Additional updates will be provided as this case progresses. 

As reflected in prior notices, we have confirmed that individuals purporting to represent Ascend or its affiliates continue to solicit customers for new or additional services, and new or additional payments.  Numerous customers have reported receiving solicitations from “Sam” at “ACV Partners”, or having been invited to join a Slack conversation purportedly administered by Ascend or an affiliate (for instance, “acv-partners.slack.com”).  Please note that none of these solicitations have been authorized by the Receiver.  Moreover, none of the individuals soliciting customers for new services or payments are current Ascend or other receivership entity employees.  As a consequence, none of these individuals authorized to off or provide services or accept payments on behalf of Ascend or any entities in receivership.  In the Receiver’s opinion, and based upon the information he has obtained and reviewed to-date, these solicitations are fraudulent and intended only to dupe unsuspecting customers into making additional payments to overseas personnel no longer affiliated in any capacity with the entities in receivership.

 The Receiver’s office has recently been alerted to what appears to be a new round of solicitations targeting Ascend customers and which are originating from persons who are possibly located in the Philippines. These individuals assert that they work for the Ascend or related entities.  These solicitations have included false claims regarding the legality of certain transactions, claims that the senders are working with Ascend’s defense counsel to facilitate entity operations despite the pending FTC enforcement action, and offers to provide new services for additional fees.  Please note that the senders of these emails have no authority to speak for the entities in receivership, or to solicit customers for new services or additional payments.  Moreover, counsel for the defendants have confirmed, in writing, that they are not in contact or coordinating with foreign agents formerly employed by the entities in receivership.  These recent solicitations are unequivocally false and – based on an investigation performed by the court-appointed Receiver, such solicitations may constitute an ongoing effort to defraud consumers.  The Receiver urges all customers/consumers to remain skeptical of any solicitations for services or money in connection with this matter and to refer any questions regarding the legitimacy of future solicitations to his office. He may be reached via email at steve.donell@fedreceiver.com.

The Receiver is informed that some consumers have received statements from Bill.com. Please do not pay any electronic invoice or statement from Bill.com or other source. Please forward any billing statements or invoices to inquiries@fedreceiver.com.

The Receiver has learned that unidentified individuals allegedly acting for or in connection with the Receivership Entities, including individuals apparently located overseas, have contacted consumers in an effort to solicit changes in billing arrangements, to encourage consumers to join new Slack or other internet discussion groups, and to recruit consumers to join purported class actions or similar lawsuits against the Receivership Entities.  The Receiver has reviewed many of these solicitations, and believes them to be false or misleading, and to violate the terms of the order pursuant to which he was appointed.  The Receiver encourages consumers in receipt of such solicitations to scrutinize their legitimacy carefully and to proceed with caution if responding to any communications from unknown individuals, or individuals claiming to be acting for or in concert with the Receivership Entities or their customers.