*** APPELLATE COURT SETS ORAL ARUGEMENT IN WELLS FARGO CASE ***
The United States Court of Appeals has scheduled oral argument on Thursday, December 8, 2016 in the matter of Securities and Exchange Commission v. Wells Fargo Bank, N.A., Case No. 16-10942. This is the oral argument related to Wells Fargoís appeal on the denial of its claims. If you require any additional information, please contact Jeffrey Rizzo at: jrizzo@wiandlaw.com.



*** QUEST RELATED MATTERS***
Court grants Receiverís Motion to Approve Procedure to Administer Claims related to Quest Energy Management Group, Inc. On June 17, 2016, the Court entered an Order (DKT. 1241) granting the Receiver's Unopposed Motion to (1) Approve Procedure to Administer Claims and Proof of Claim Form, (2) Establish Deadline for Filing Proofs of Claim, and (3) Permit Notice by Mail and Publication and Incorporated Memorandum of Law. A copy of the order can be found here.

For more information please visit the Quest Claims Process tab.



*** QUEST RELATED MATTERS***
Receiver Files Unopposed Motion to Approve Procedure to Administer Claims related to Quest Energy Management Group, Inc. On June 15, 2016, the Receiver filed an Unopposed Motion to (1) Approve Procedure to Administer Claims and Proof of Claim Form, (2) Establish Deadline for Filing Proofs of Claim, and (3) Permit Notice by Mail and Publication and Incorporated Memorandum of Law (the ďMotionĒ). A copy of this Motion is available below.

Motion - Receiver's Unopposed Motion to (1) Approve Procedure to Administer Claims and Proof of Claim Form, (2) Establish Deadline for Filing Proofs of Claim, and (3) Permit Notice by Mail and Publication and Incorporated Memorandum of Law (DKT. 1240)




*** APPELLATE COURT SETS ORAL ARUGEMENT IN WELLS FARGO CASE ***
The United States Court of Appeals has scheduled oral argument on Thursday, May 19, 2016 in the matter of Burton W. Wiand, as Receiver for Scoop Real Estate, L.P., et al. v. Wells Fargo Bank, N.A., Case No. 15-10968. If you require any additional information, please contact Jeffrey Rizzo at: jrizzo@wiandlaw.com.



On December 15, 2015, the Court entered an Order granting the Receiverís Unopposed Motion to (1) Approve Fifth Interim Distribution, (2) Increase Certain Reserves, and (3) Release Certain Other Reserves. A copy of the motion and the order is available here. Distribution checks are being mailed on December 18, 2015.

Please be advised that the Receiver has determined it to be in the best interest of the Receivership to charge a processing fee of $100 for the reissuance of distribution checks when the reissuance is requested by claimants. To avoid the imposition of any processing fee, please keep the Receiver informed of any changes to your account which would require a name change to the payee of any future distribution check to which you may be entitled. For instance, if your claim is currently designated as a custodian account for your benefit and you change custodians (i.e., Millennium Trust FBO John Doe changes to Fidelity Investments FBO John Doe.), please promptly notify the Receiver by contacting Mary Gura at (813) 347-5121 or mgura@wiandlaw.com. Please note that to change your claim name, you will be required to provide documentation evidencing the new custodian. If you have any questions, please contact Ms. Gura at the number or email provided above.



*** COURT GRANTS RECEIVERíS REQUET TO APPEAL DECISION IN WELLS FARGO CASE. ***
On March 27, 2015, the United States District Court granted the Receiverís Unopposed Motion to Prosecute Appeal in connection with the matter of Burton W. Wiand, as Receiver for Scoop Real Estate, L.P., et al. v. Wells Fargo Bank, N.A., Case No. 8:12-cv-00557-JDW-EAJ. A copy of the Order is available for review here. The United States District Courtís February 9, 2015 order granting Wells Fargoís motion for summary judgment will be appealed to The United States Court of Appeals for the Eleventh Circuit. If you require any additional information, please contact Jeffrey Rizzo at: jrizzo@wiandlaw.com.



*** COURT GRANTS SUMMARY JUDGMENT IN FAVOR OF WELLS FARGO Bank, N.A. ***
On February 9, 2015, the United States District Court granted summary judgment in favor of Wells Fargo Bank, N.A. in the matter of Burton W. Wiand, as Receiver for Scoop Real Estate, L.P., et al. v. Wells Fargo Bank, N.A., Case No. 8:12-cv-00557-JDW-EAJ. A copy of the Order is available for review here. If you require any additional information, please contact Jeffrey Rizzo at: jrizzo@wiandlaw.com.



*** QUEST RELATED MATTERS***
On November 20, 2014, the Securities & Exchange Commission filed an enforcement action in the U.S. District Court for the Northern District of Texas against Paul and Jeffrey Downey, the former principals and officers of Receivership Entity Quest Energy Management Group, Inc., for their violations of anti-fraud provisions of the federal securities laws in connection with their activities on behalf of Quest. The SECís Litigation Release concerning this matter is available: http://www.sec.gov/litigation/litreleases/2014/lr23144.htm and the SECís complaint is available [here]. The SEC also charged John Leonard for violating federal securities laws by acting as an unregistered broker in offering and selling investments in Quest.



*** TRIAL OF THE RECEIVERíS LAWSUIT AGAINST WELLS FARGO HAS BEEN POSTPONED ***
Trial of the Receiverís lawsuit against Wells Fargo (Burton W. Wiand, as Receiver for Scoop Real Estate, L.P., et al. v. Wells Fargo Bank, N.A., Case No. 8:12-cv-00557-JDW-EAJ), which was previously scheduled to begin on December 1, 2014 in Tampa, Florida, has been postponed by the Court. A new trial date has not yet been set. If you require any additional information, please contact Jeffrey Rizzo at: jrizzo@wiandlaw.com.



*** QUEST RELATED MATTERS***
The Receiver filed a Third Interim Report on Quest Energy Management Group, Inc. on November 4, 2014. See Receiver's Third Interim Report on Quest Energy Management Group, Inc. here.



If you are an investor/claimant and you recently received correspondence from Charles Schwab regarding your IRA account, please see correspondence from the Receiver here. If you require any additional information, please contact Jeffrey Rizzo at: jrizzo@wiandlaw.com.



*** QUEST RELATED MATTERS***
The United States Court of Appeals for the Eleventh Circuit has dismissed the appeal for lack of jurisdiction on the ground that the Downeys lack standing to appeal on behalf of Quest. A copy of the Order is available for review here.




Introduction

Welcome to the website of Receiver, Burton W. Wiand. Mr. Wiand has been appointed Receiver in the case of Securities and Exchange Commission, Plaintiff, v. Arthur Nadel, Scoop Capital, LLC, Scoop Management, Inc., Defendants, and Scoop Real Estate, L.P., Valhalla Investment Partners, L.P., Valhalla Management, Inc., Victory IRA Fund, Ltd, Victory Fund, Ltd, Viking IRA Fund, LLC, Viking Fund, LLC, and Viking Management, LLC, Relief Defendants, Case No. 8:09-cv-87-T-26TBM in the United States District Court for the Middle District of Florida, Tampa Division.

We designed this website to provide convenient access to information about the receivership, including important updates, answers to Frequently Asked Questions (FAQs), and select District Court documents. As our work progresses, we will add information to this website, including information regarding the plan of distribution to creditors of any assets that are recovered and all forms required by the District Court for participation as a claimant in the distribution process. If you require further information not contained in this website, you may contact us.

Brief Summary of the Case

The SEC alleges that Arthur Nadel defrauded investors in six hedge funds (Scoop Real Estate, L.P., Valhalla Investment Partners, L.P., Victory IRA Fund, Ltd, Victory Fund, Ltd, Viking IRA Fund, LLC, and Viking Fund, LLC) by massively overstating the value of investments in these funds and issuing false and misleading account statements to investors. Mr. Nadel operated this scheme through a number of different entities, including Scoop Capital, LLC, Scoop Management, Inc., Valhalla Management, Inc., and Viking Management, LLC. The SEC also alleges that Mr. Nadel transferred large sums of investor funds to secret accounts which only he controlled.

Where, as in this case, the SEC seeks the return of funds to investors, the SEC frequently pursues the appointment of a receiver to assist in marshalling assets on behalf of injured investors. SEC-initiated receiverships frequently arise in connection with alleged fraudulent investment schemes.

The District Court entered an Order on January 21, 2009, appointing Mr. Wiand as Receiver. The Court directed the Receiver to (i) administer and manage the business affairs, funds, assets, and any other property of the Defendants and Relief Defendants; (ii) marshal and safeguard the assets of the Defendants and Relief Defendants; (iii) investigate the manner in which the affairs of the Defendants and Relief Defendants were conducted and institute such legal proceedings for the benefit of the Defendants and Relief Defendants and their investors and creditors as the Receiver deems necessary and (iv) take whatever actions are necessary for the protection of the investors. We intend to fulfill our duties and responsibilities as Receiver in an expedient and efficient manner. The District Court overseeing this receivership has broad powers and wide discretion to determine the appropriate relief.

This site contains links to copies of various court documents regarding this receivership.  You will need Adobe Acrobat Reader to view these documents.

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