Xybernaut Corp. (fka XYBR)

[smartcard1]

Oh he used to tout that one regularly, saying something like if the Xerox patents were a 10 the Xybernaut package was at least a twenty, or some correponding number

[jurisper]

First I've heard of that one ....

[smartcard1]

Anyone know if Weisberg really did prepare the intelletual property package for Xerox like he claimed so many times? Not that it really matters. I just wondeer if it was one more big lie I fell for.

[lopez boy]

Thanks for the information 'jurisper'..

Lopez Boy

[jurisper]

FWIW, the lawyer Marty Weisberg's sentencing in the Xybernaut/Ramp case (and another) is now set for June 28th; don't know whether any restitution amount will be ordered at that hearing. But if the distributions are waiting on the resolution of that matter, I guess an end may be in sight.

[lopez boy]

I wonder if another type of law suit/remission can be generated if we only get a small portion of our $$ back from this one. I would think some law firm would jump at the chance if it's a money making proposition for them.

Lopez Boy

[Spacely]

http://news.yahoo.com/wearable-tech-enhancing-lives-careers-122204807.html

[Jonnylotech]

Have tried to call over the years 3 or 4 times and have got through most of the time....it takes a while. You have to go through all the prompts...then stay on hold til someone answers. Just "lucky" I guess.

I am not going to make any excuses for this fiasco..I'm on your side.

1) I think the first one paid a higher percentage because they did a poor job of notification...on this one they delayed over and over again and allowed many late claims as indicated on their site. I, for instance, never received any notification on the first distribution.

2) I am not 100% on their exact remuneration, but having worked with these kinds of companies before, they generally have a retainer that includes a base estimate of inquiries then get a per inquiry payment over the agreement.

Your Humble Reporter....
Any more info would be greatly appreciated.

[smartcard1]

Do you know why Randy talked with you when we haven't heard anyone else report that they've gotten any response? An acquaintance that used to call frequently hasn't been able to talk to anyone since January. I have very limited knowledge but I don't understand 2-4% since there appears to be perhaps 2 million more available than on the first distribution, which paid out at about 9.1%. Perhaps because the first distribution only took about 8 months (as I remember) and this, second, is already at 26 months and counting?


Why are you sure that the aministration receives payment per call received?

Has anyone else been able to talk with the remission administration recently?

[Jonnylotech]

2-4% of the "recognized" loss...of course that's a little different than your "actual" loss. I guess it's a little too late to appeal...any bored, out of work or retired attorneys out there?

[lopez boy]

You mean to tell me that we may only get a 2-4% on our losses? If this is true, then the whole system is corrupt (as to be expected). This jerk Saltsman et al gets a $100 fine and probation while keeping the rest of our losses minus a sizable handling charge for the distribution of our meager 2-4% distribution. They are all probably lounging around drinking a rum and coke in some hut in Bora Bora laughing their asses off!! They should change the name "Justice Department" to "what's in it for me Department". Does anyone have any idea why the Justice Department even started this fiasco? I have an idea but they might throw me in jail for suggesting it...

Lopez Boy

[Jonnylotech]

Got through last week to a guy named Randy. Says they are expecting a check from the government anytime (lol). He was more forthcoming however, than anyone else there before. He shared my recognized loss and said they expect a 2 to 4 % return to claimants. I would resist calling any more for a while. I am sure this company gets paid on a per inquiry basis...the more we call...the more they take. If nothing else happens in the next month we have no choice but to hound them again. Just a suggestion.

[jstick2000]

It wont help either. we are completely on ignore at this point. This is truly ridiculous.

[smartcard1]

I tried the FAX and the email, with no response. But it won't hurt if you try again.

[Done Waiting]

Has anyone tried calling the contact number?

Remission Administrator toll free at 1 [phone], or by fax at: 1(866) 208-3614, or in writing at the following address:

Xybernaut Securities Remission
c/o Analytics, Inc., Remission Administrator
P.O. Box 2007
Chanhassen, MN 55317-2007

Just wondering if it would be a waste of time or not.

[smartcard1]

I sent an email to a Washington Post writer who already is involved with investigations at DOJ. I explained our situation and suggested that he might be able to investigate and inform us of what the holdup is. Might not get a response but at least we won't be worse off than we are now. I think he only writes a column on Saturdays so the earliest we'll likely hear from him will be next Saturday.

[lopez boy]

I don't think the problem lies with the Justice Department, but with the BMC Group. BMC is a very large business, handling a lot of settlement/remission disbursements (google them) including ours. I believe that when there is good or bad news to report, they will do just that BUT, I also think that they shouldn't keep us in the dark for 3 months without any kind of message. Even just to say "we are working the situation" etc etc. What I'm really afraid of is that they legally could be extending the remission refunds so that they can get a bigger fee.

Lopez Boy

[smartcard1]

Every time I read the January 15 notice I have to laugh at "thank you for your patience". Damn but it's irritating to be kept in the dark for so long. I can't imagine DOJ absconding. I think it's a case of governmentese "on or about April" which could mean anything but then I was very wrong about the investment in the first place and had to be hit over the head with the bad news. Anybody know a newspaper person in DC that could check on things? Power of the press.

[jstick2000]

It is my belief they have absconded. Just like Spankface said, we will get zippo. Darn it!

[hwl]

Do any of you have any contact w/XYBR remissions or have they gone away with the settlement money. Have any of you received any of the settlement money? I have not.

[fankface]

you losers aren't getting anything, not one penny.. saltsman and gang will always be millionairs and you manipulated low life losers will always be struggling, that is the way it is chaps....

[jstick2000]

They do not respond anymore. I used to get responses. not anymore. They have gone underground. Pretty poor service to not even put a message on the site. Not even a quick reply. Just dead air.

[fmongiovi]

sent an email message to carolyn barazesh and patrick kratz of BMC on May 8th concerning the delays. Still waiting for a response

[smartcard1]

Used to be a informative (although worthless) message every month; now 4 months without a word. One has to wonder if Obama hasn't borrowed the money to make up some of his shortcomings. Too bad we can't investigate DOJ.

[smartcard1]

I don't have better info from them but if I remember correctly the first distribution was of 3 million and the lawyers got a good chunk of that and we still got about 9.1% of our supposed losses (as compared to out real losses)- I remember the first notices of this distribution, 2 years ago, mentioned 5 million whereas now they are saying 4.3 million. The administrators got $700.000.00?

[hwl]

I spoke with remissions contact last Aug 2012. He said at the time that the amount recovered was about $5mil . After legal fees that does not leave much to distribute. I lost around $25k and would be lucky to get $1000 back. Anyone else have better info?

[CarlEstate]

My dad died and he is part of this ligation. All info needed they have in order for his heirs to receive any monies....just don't know at this point how much and when we will receive. Sounds like the when is the big question for all.

[smartcard1]

I think it's real but there's likely some problems they aren't telling us about. I can imagine all sorts of things, probably none of which are so. Maybe they meant to say "on or about 2013". They probably don't have the $500K yet because since they have everyone's percentages it should be a simple matter to add that percentage of the $500K. They (whoever "they" is) obviously don't give us much of a thought. They don't even have the courtesy of informing us - of anything. Used to be a message a month. Now the most recent is almost 3.5 months ago. I wonder how many of us died waiting. But, happy second anniversary.

[jstick2000]

Do you think any of this was even real?

I feel like it is all a fake.

[RACKnRICKY]

still nothing,any chance we get a nickle or dime?

[smartcard1]

siiiiiiiiiighhhhhh.

[RACKnRICKY]

lol! april fools! you guessed it.

[fletch15]

I'm sure you're gonna say Aprils Fools but being it is now the 2nd could you please confirm whether you have really got a check or are you still waiting like most of us?

[RACKnRICKY]

finally i got paid off! thanks xybr

[jstick2000]

don't forget that in addition to "on or about", they threw in a "are likely to" which means first we have to find out if they will ever become available at all, then we can get to the on or about.

[smartcard1]

As we approach the magic month I'm mindful of the CYA language "on or about" and wonder why, in all my years, the "about" has NEVER occurred before the stated date.

[Jonnylotech]

Any of you "math types" out there figure out an estimated amount per share?

(of course it will be variable with the amount of claims)

My kid needs a new pair of sneakers.

[jurisper]

I follow the case of Martin Weisberg, the Xybernaut director/outside counsel charged in this case. I guess the "$500K in April" might be restitution from him? - he's scheduled for sentencing on 15th March. But now he's had a heart attack and it looks like sentencing will be delayed until he's recovered.

So if things are waiting on wrapping up the case against him, expect some further delays.

[RACKnRICKY]

now april and than more delays....i also have egil remittance to file. i sure pick some real con stocks.but its nice they get busted!

[smartcard1]

I got no answer from her but if I had it would be the same. Frustration rampant

[Sandman601]

And of course, due to layoffs at the DOJ resulting from the sequester budget cuts, the 3 workers still employed at DOJ should be able to complete the required paperwork by no later than April, 2084. Thank you.





(Yes, another T.I.C. .......... tongue in cheek :/ )

[fmongiovi]

Here's the reply that i got from Caroline this afternoon:

Frank.

I apologize for the delays. I have given you the most up to date information I have at my disposal, but there have been many unforeseen delays. I am updating the Xybernaut website www.xybernautremission.com whenever I hear anything new from the DOJ. The most recent update is this, from January 15:

The amount of forfeited assets currently available for distribution to victims is approximately $4.3 million. The Department of Justice has determined that additional assets valued in excess of $500,000 are likely to become available on or about April 2013. In order to maximize the amount of funds available for victims, while minimizing administrative costs, distribution of checks may be held until the additional funds are received. This website will be updated when more information becomes available regarding the date of distribution. Thank you for your patience as we work to provide the maximum possible recovery for victims of the Xybernaut fraud.

We do not know the final amount of the settlement fund so we can’t do the distribution calculations yet. We do not know when checks will be mailed or the percentage return at this time. As soon as the DOJ authorizes us to issue the checks, we will mail them as soon as we can. We understand how frustrated everyone is because of the delays but they are out of my control and not caused by BMC Group.

Best Regards
Caroline



Caroline P. Barazesh
952.404.5709
bmcgroup

[jstick2000]

Ok, sometimes I dont get those! haha.

[smartcard1]

A tongue-in-cheek post

[jstick2000]

Where did you find that information? The current website is xybernautremission.com

[Sandman601]

Please be advised that due to unforeseen costs and circumstances, the $5,000,000 settlement fund is slightly less at this time - a total of $2.17 is now available to be distributed to claimants. Rest assured that we will process these claims quickly and will forward these funds in the near future....maybe.

For more information, see www.xybernautsettlement.com

(Oh....sorry........that's busted too. Not enough money left to keep a domain name going)

[jstick2000]

They must be getting paid by the hour.

[smartcard1]

The Jan 15 message is loaded with CYA governmentese. They should already know how much the additional funds, if any, are, and be prepared for a fast distribution on receipt of the funds, if any. But it's pretty certain that we will begin a new round of calculations, reviews and more reviews. It's really frustrating to be so helpless with no one to look after our interests.

[jstick2000]

Yes, Caroline has responded to my emails about 3 times and one other guy there responded once. However, this is spread out over the last 8 months or so. I would email asking for an update and they would tell me each time that it would likely be the end of the following month. Obviously a bullcrap canned response, but I was going to try to make them spend some time answering me. Now, since the notice on Jan 15th, I have emailed twice and gotten no response. They are suddenly quiet. Something is rotten in Denmark. Whats new.

[RebelwoaCloo]

They would've received much lower sentences had they stolen more, and they wouldn't have even been charged of wrongdoing had they stolen huge, Wall Street figures.