According to a Status Report dated February 4th, a house that was given to the Fundsz Receiver has been turned over.
In an uninhabitable state, with the flooring taken out and the home covered in trash, excrement, and maggots.
The Fundz Receiver linked the purchase of then defendant Rene Larralde’s $1.9 million Florida home to embezzled investor cash as part of her court-mandated asset recovery obligations.
In light of this, the Receiver required Rachel Larralde, who was acting on behalf of Rene Larralde’s estate upon his death in late 2023, to surrender the riverside property.
According to what I understand, Rachel Larralde lived in the house with her three kids before giving up.
The Larralde home was in such a state that the Receiver
In order for a realtor to enter the house and start getting it ready for sale, a sizable cleaning team had to be hired to repair it.
The Receiver anticipates receiving $1.7 million for the property’s sale. The Receivership will hold the sale proceeds until they are eventually distributed to Fundsz victims.
Aside from the terrible living circumstances, Rachel Larralde has given the Receiver further details about money, guns, a personal boat, and a trailer connected to the property.
Leads on “potential investors and assets that the Receiver is continuing to investigate” have also been found through analysis of Rene Larralde’s confiscated laptop.
Regarding Fundz defendant Juan Valcarce (right), the Receiver feels that Valcarce has been properly deprived of ill-gotten riches at the time of filing.
Based on a number of in-person interviews and sworn financial statements, the Receiver determined throughout the Reporting Period that Defendant Valcarce had few assets and no real estate holdings.
As previously mentioned, the money that was in Mr. Valcarce’s accounts was moved to the Receiver’s City National Bank fiduciary account.
The Receiver does not think it is necessary to look into Mr. Valcarce’s assets any further.
Defendants Brian Early and Alisha Ann Kingrey, on the other hand, continue to disregard the procedures at their own risk.
It seems that Brian Early (right) is still advertising Ponzi schemes on Fundsz’ official Facebook page.
writes to the recipient;
Throughout the Reporting Period, the Receiver persisted in her attempts to close the Fundsz private group and Facebook account, as well as to prevent Defendant Early from using Facebook improperly to solicit investors. She also spoke with Facebook’s legal team and reported any Fundsz pages on the social media network.
In order to take over the Facebook platform, the Receiver could have to ask the Court for help.
According to an examination of Early’s Facebook page, he is still running phony multilevel marketing enterprises while hiding in Costa Rica:
It seems like RainBNB is a relaunch of the previously defunct RideBNB giving program. Additionally, Early is endorsing the multilevel marketing pyramid GivBux.
Regarding the collaboration between Early and Alisha Kingrey, the Receivership writes:
In order to help her locate and seize the Defendants’ assets, the Receiver asked Brian Early and Alisha Ann Kingrey to provide thorough financial declarations in accordance with the Statutory Restraining Order and the Preliminary Injunction.
As of right now, neither Defendant Early nor Kingrey have responded to the Receiver’s repeated communications, a thorough financial statement, or an affidavit form.
The Receiver does not anticipate compliance and supports the CFTC’s application for penalties since Defendants Early and Kingrey have not complied with the Receiver’s and the CFTC’s attempts to collect the necessary information.
The court ordered Early and Kingrey (right) to provide justification for their non-compliance with court orders after the CFTC filed a petition in December seeking penalties against them.
Early and Kingray were given till January 23rd by the court. It should come as no surprise that neither Kingrey nor Early responded.
A report from a magistrate judge was submitted on January 28th, suggesting that the court follow the three actions mentioned above.
The court has not yet imposed the CFTC’s proposed penalties as of the time of publishing.
Returning to the Receiver’s Status Report, the Fundsz Receivership has $2.6 million in cash on hand as of December 31st, 2024.
In order to improve the amount of money that can be given to the Fundsz investors, the Receiver will concentrate on promoting and selling the Larralde Residence during the next reporting period.
Given the quantity of money to be disbursed to the 14,000 prospective claimants, the Receiver will also create a fair and economical claims procedure and distribution strategy.
The mandated penalties against Alisha Kingrey and Brian Early are probably the subject of our next Fundsz update. Keep an eye out.
