Stephanie Megan Wildes and the Profit Connect Receiver have reached a $90,000 settlement.

The Receiver discovered that $127,188 had been given to Wildes as part of their attempts to recover money that had been laundered via the Profit Connect scam.

according to a document that was included with the Receiver’s request to approve Wildes’ settlement;

After further research, the Receiver discovered that the Wildes Funds were sent to Wildes by Profit Connect as “payment” for money “earned” and/or compensation for alleged costs incurred by Wildes while she was working as an employee, servant, agent, and/or in collusion with the defendants.

Wildes doubled on instead of admitting her involvement in Profit Connect, which the SEC claims was a $12 million Ponzi scam.

Wildes contests responsibility, arguing that she should not be held responsible for at least some of the monies the Receiver found and that she should be allowed to keep some of the money because of the services she provided to Profit Connect.

Therefore, a $90,000 settlement deal was struck rather than restoring the whole $127,188 that was taken from Profit Connect investors.

Wildes wants to settle the conflict, and the Receiver thinks that doing so would benefit the Receivership Estate more than paying legal expenses and charges.

As a result, pending this Court’s permission, the parties have signed a Provisional Settlement Agreement.

On December 30, 2024, the court granted approval for Wildes’ $90,000 Profit Connect settlement.