There is currently over 8.5 million dollars available to investors who lost money on this scam. Every dollar that FSPM made was from selling stock illegally and selling containers to companies that they owned. Of the 12 million dollars in money and property confiscated and made available for restitution, the I.R.S. has asked for and received in the Plea agreements with Sears and Dittman the sum of 2.6 million in taxes.
YEAH.. I had the same question. How can the government benefit from money that was stolen from investors and the IRS be first in line to collect their "LOSS" before investors - people who put actual money into this fraud - collect one dime.
Secondly - this wipes out the responsibility that Sears and Dittman have to the IRS by allowing them to pay their fines with stolen money.
I have asked Judge Martinez to defer 1/2 this payment to the I.R.S. and let Sears and Dittman pay this money back after they have served their time in jail.
I have asked Judge Martinez that he give Sears and Dittman 10 years in prison which is double the sentences that each man faces. I believe Sears is looking at a max 7 years because he is already a felon.
This money was stolen over a period of 3 or 4 years. I believe the FBI tracked the fraud back to 2012. There are 1000's of people who lost money but there is ZERO outreach (which I pointed out to the judge) that even attempts to identify how many victims there are. People like me and others on this board who were left holding the bag will get restitution but the unclaimed balance of that money will go to what is called "ASSET FORFEITURE" .. I have asked that any balance remaining that is left unclaimed be divided up amongst those who have submitted claims based on the percentage of what they lost.
MEANING ... There should be a claim "period of time" or "window" and after that window is complete, all the claims should be added up and giving a percentage based on loss. That percentage should be applied to any remaining unclaimed funds and all those unclaimed funds should be dispersed to INVESTORS.. Otherwise that money will go to fund whatever law enforcement special projects and other shadowy stuff.
Reply to this or contact me if you want to send a message to the judge about this issue. I am going to the sentencing.. I have lost too much money not to be there in person.