I would like to see proof that the receivership has been terminated. There is nothing in the FNDM court filings to this effect. Also, if the receivership was terminated, the Receiver had an obligation to post it on the fndmreceivership.com website. I see no such post. Moreover, the Receiver, would be legally obligated to set a shareholders' meeting.
Some of you have talked about the Receiver investing in Bitcoin. I assume you were joking because the Receiver's legal duty is limited to collecting the assets for the shareholders and not investing in anything. His duties are the same as a trustee in bankruptcy. If he invests any money that he has collected, he has committed a felony as that investment is tantamount to theft. If he did that as a trustee in bankruptcy in federal court, he would be removed from his position by the judge and held in contempt of court and thrown in jail. Both attorneys of record have the same legal responsibility that the Receiver has, which is to do the right thing with the money or be held in contempt of court also.
Moreover, when you invested in FNDM the purpose of that investment for most of you was to invest via Fund in conservative ETFs held by Advisor Shares, not to invest in risky, distressed assets of the type that the the Receiver is in the business of investing in in his own personal business. Once the assets of Fund have been monetized, as most have been, those assets should be distributed to the shareholders based upon the number of shares that they hold. The shareholders can then invest in whatever they want (stocks, bonds, pay bills, buy their spouses a present, put back into their personal bank account or their pension plan, take a vacation, or do whatever they desire with the money). The money is theirs to do with as they please. It belongs to them, not to the Receiver. If the Receiver still holds the corporate shell, including the net operating losses, which are worth one million dollars or more, they should have been sold long ago. Any rumor that the Receiver plans to use the corporate shell and any NOLs is misplaced as they belong to the shareholders and should have been sold and become part of the assets for distribution to the shareholders.
