Resurrection Life Church, which received $300,000 in donations from Ponzi schemer David McQueen, has raised $8,500 to help reimburse victims.
It isn’t going to go far. Still, it’s better than what a lot of others have offered.
In a letter to victims of David McQueen’s $46 million Ponzi scheme, federal prosecutors outlined efforts to recover funds from those who benefited from the scam. The list included businessmen, investors, lawyers – even a man who obtained $230,000 to help establish Hawaii as a separate country.
Assistant U.S. Attorney Matthew Borgula said in a letter to victims that the IRS and FBI have seized about $900,000 in assets during the course of the investigation.
That money, however, will not be paid to victims before next year.
The U.S. Department of Justice requires forfeited assets to be held until McQueen’s appeal is completed. With many elderly victims, the U.S. Attorney’s Office pushed for an exception to the Justice Department’s policy and sought immediate return of assets, the letter said.
“While we have not yet been successful, we will continue to request that our counterparts within the Department return these funds to you as soon as possible,” Borgula wrote.
He also sought voluntary return of assets obtained during the course of the fraudulent scheme, according to the letter obtained by The Grand Rapids Press and MLive.
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