Can any one tell me what this new information in PDF file means
IT is on EMO site . Click cousr orders there


Will all be paid by EMO
This was posted 2-3 days ago i think on their website. I mean agreed_t.pdf file

Please tell
WILL ALL CUSTOMERS WILL BE GIVEN BACK THE MONEY

PLEASE HELP I LOST 3 K IN EMO .
I WANT THAT MONEY BADLY,
IF I COULD NOT GET IT I WILL HAVE TO BEG DOOR TO DOOR
BECAUSE I HAVE LESS THAN 40 $ IN HAND ONLY ,
And my family financial condition is not good .


PLEASE ANSWER

It means EMO no longer exists and has more money owed to customers than what they have on hand. It will take months at minimum for the receiver to sort everything out and then decide on how to distribute any monies back to EMO customers. Since the receiver is also being paid a MINIMUM of $215 an hour and can go as high as $500 or so an hour, all that money will reduce the amount available to give EMO account holders money back that they currently have on deposit with EMO.

EMO agreed to it all without admitting/denying any guilt and so forth. The receiver and Texas both have stated in court that EMO is insolvent and have violated Texas law by being unlicensed. The owners of EMO will likely face serious civil penalties and likely jail terms. The customers of EMO are screwed as this mess will take quite a while to account for and to distribute money back to depositors.

I'm afraid it means nothing but bad news for your 3K.

NUK

Yes I have to agree with you here. Our money is lost here for sure. There will be nothing left after the receiver gets their pay. Another one bites the dust.

NOT DEAD YET - JOIN FIGHT

http://instituteforlegalreform.com/newsroo...?p=factsfigures

Civil Justice System

* America's civil justice system is the world's most expensive, with a direct cost in 2001 of $205.4 billion, or 2.04 percent of GDP. [Tillinghast-Towers Perrin, February 2003.]
* Tort costs increased by $26 billion in 2001 over 2000, a 14.3 percent jump. That represents the largest percentage increase since 1986. [Tillinghast-Towers Perrin, February 2003.]
* Tort costs were $721 per U.S. citizen in 2001, meaning the average American family of four paid a "litigation tax" of nearly $2,900 due to increased costs from lawsuits that forced businesses to raise the price of products and services. That cost is equivalent to a 5 percent tax on wages. [Tillinghast-Towers Perrin, February 2003]
* The U.S. civil justice system in 2001 returned to claimants less than 50 cents on the dollar and less than 22 cents for actual economic losses. [Tillinghast-Towers Perrin, February 2003]
* Tort costs are divided: 24 percent for noneconomic losses - such as pain and suffering - 22 percent for economic losses; 21 percent for administration; 19 percent for plaintiffs' lawyers; 14 percent for defendants' costs. [Tillinghast-Towers Perrin, February 2003]
* The top 10 jury awards in 2002 totaled $32.7 billion; in 1999 the top 10 awards totaled $9 billion. [National Law Journal, January 2003]
* From 1993 to 1999, the median jury award in the U.S. went from $500,000 to $1.8 million. Those figures do not include punitive damages.
* In 1997, more than 15 million lawsuits were filed in state courts - one every two seconds.

Class Actions

* The filings of class action lawsuits at the federal level have increased over the past 10 years by more than 300 percent and by more than 1,000 percent in state courts. [Federalist Society, 1999]
* Of the class action lawsuits filed in 1995-1996, 58 percent were filed in state courts and 42 percent were filed in federal courts. [Rand]
* The 327 securities class action lawsuits filed in 2001 represented a 60 percent increase over the number of filings in 2000, and the companies sued in 2001 lost more than $2 trillion in market capitalization, a 157 percent increase over losses suffered by the 204 firms sued in 2000. [Stanford Law School Securities Class Action Clearinghouse]

Asbestos

* About 600,000 individuals have filed claims against 8,400 defendants related to asbestos exposure. [RAND, January 2003]
* An estimated 1.1 million individuals will file asbestos claims at a cost of $275 billion. [Milliman USA]
* Asbestos litigation has cost companies a total of $54 billion, and 67 firms have filed for bankruptcy due to asbestos liability costs. [RAND, January 2003]
* Asbestos litigation costs have reduced defendants' levels of investment by $10 billion and resulted in 138,000 jobs not being created. [RAND, January 2003]
* Between 52,000 and 60,000 jobs have been lost due to asbestos-related bankruptcies. [Sebago Associates, 2002]
* Each displaced worker will lose, on average, between $25,000 and $50,000 in wages over his or her career because of periods of unemployment and the likelihood of having to accept a new job at a lower salary. [Sebago Associates, 2002]
* Indirect costs to local communities of asbestos-related bankruptcies to date are as much as $2.1 billion. Those costs are from additional lost jobs, decreases in property values, unemployment and worker retraining costs and increases in health care costs. [NERA Economic Consulting, January 2003]
* For every 10 jobs lost due to asbestos-related bankruptcies, 8 additional jobs are lost in local economies. [NERA Economic Consulting, January 2003]
* Estimates of future costs for asbestos litigation range from $145 billion to $210 billion. [RAND, January 2003]
* Of the $26 billion increase in tort costs in 2001, $6 billion is attributable to reassessments of the estimated future payments associated with asbestos claims. [Tillinghast-Towers Perrin, 2003.]

Medical Liability

* The average medical malpractice verdict has increased since 1994 to $3.5 million from $1.1 million.
* Medical malpractice tort costs have grown since 1975 at an annual rate of 11.6 percent compared with 9.4 percent for all U.S. tort costs. [Tillinghast-Towers Perrin, 2003]
* Medical liability tort costs accounted for $21 billion of the estimated $205 billion in total tort costs to the U.S. economy in 2001. [Tillinghast-Towers Perrin, 2003]
* Because of the fear of malpractice lawsuits, 79 percent of physicians order more tests than are medically necessary. [Harris Interactive, March 2002]
* Given the current medical liability system, 43 percent of practicing medical doctors say they have considered leaving medicine. [Harris Interactive, March 2002]

What does tort reform have to do with EMO? EMO agreed to cease all operations and turn everything over. No one is suing EMO for money right now, the receiver is trying to determine where all the money is and howmuch there is to pay back EMO account holders.

All those cases cited are about large jury awards when one party sues another. That's not relevant here.

NUK

Where did you get the idea that EMO has rolled over?

According to the Agreed Temporary Injunction Emo has only agreed that the court has appropriate jurisdiction over the parties and subject matter. See page 2 under findings. They have neither agreed or disagreed with any of the other topics listed under findings.

Also it further states that the trial to determine guilt for the findings shall begin on September 25th 2006. So unless a settlement comes into effect in which the prosecutor and the court agrees to rescind the temporary injunction prior to 9/25 we will have to await at minimum the conclusion of the trial before any money is dispersed.

There doesn't appear to be much we can do but wait and not start / feed rumors.

The most annoying part is I honestly thought EMO was THE ONE... sadly I have $500 stuck in it. How annoying.

EMO didn't admit guilt but agreed to give EVERYTHING over to the court's jurisdiction. All bank accounts, all computers, all furniture. 100% of what EMO owns and what the EMO owners own they agreed to immediately give up. Now, that is what I call rolling over. They didn't bother fighting it out on April 6th and agreed to the TRO which puts EMO completely out of business.

The Sept trial date will be for whatever civil/criminal penalties the EMO owners are faced with. It has no bearing at all on EMO money being refunded, that is completely under the control of the court now.

NUK

NUK That is complete BS, if you don't know what your talking about, perhaps you should keep quiet. EMO has NOT rolled over, give me a break. It is fairly obvious you don't want to help solve the problem, rather the opposite, to instill fear and mistrust. Perhaps you can get your facts straight. Feel free to contact me for more information, otherwise, simply keep to the facts. You do not know what is going on, and you are not an attorney, perhaps you are gary barton.

Can you read the AGREED-to-by-EMO TRO on EMO's own website? Seriously, it's not that difficult. It details everything. Those are the facts. Which part of the document can you not understand? Which part of turning everything over including their own personal bank accts, EMO bank accts, EMO office furniture, computers do you not undertsand? What of the directed order to all their banks and even their landlord do you not understand?

I'm not instilling anything. Just stating the FACTS of the legal document. Maybe you ought to read it once or twice before you post any more asanine and completely ignorant posts:

http://emoweb01.emocorp.com/resources/docs/agreed_t.pdf

Now, when you agree to turn over everything your business and you personally own to the court, how is that NOT giving up? Especially since there was a court date scheduled on April6th if EMO wanted to fight the TRO. They didn't. They are now no longer in existence. RIP.

NUK

There is no giving up. It simply stated that emo agrees to convert the tro to a ti and admits nothing. In the meantime, they can continue to fight the actions, by the so called state of texas. They are fighting to regain control from these criminals. Consider that perhaps that emo, along with their clients are not bad, and are getting screwed here. Perhaps all our energy and attention should be on winning that fight instead of spinning tales without knowing or regard for the truth. Fight to win, lead follow or get out of the way.

You need to do some reading if you think EMO is going to win this case. It's nice that you support them to the end but this fight is over. Find a case where the US government ever admits to being wrong.

EMO won't be able to get their respect back after this since they were painted as criminals in the media and the $2M of the $5M that is already probably chargedback by people wityh credit cards.

i've done plenty of reading and chatting with emo and their members. I know they can win, and appreciate the fact if they do we will get our money, do you think if they lose we get anything?

If they lose then you better hope you don't have a lot there. Receivers get like 200-500 an hour just to sit on their butts and act like they're going over records.

I like EMO, EMO was my favorite but have to face facts that the government will not let itself lose or the rest of the country will start filing suit.

actually in the new court order that said the hearing would be on 09/06/2006 it details exactly how much the reciever gets paid $215-$595 a hour. wat a load of crap...from now and until september i wonder how much of our our money he is gonna steal

Yep. If EMO was going to contest anything, they wouldn't have signed a consent agreement and would have instead of gone to court on April 6th. Now, they have no money at all professionally or personally as all their bank accounts are now the property of the court receiver is going to get rich while all this slowly goes forward.

NUK

I certainly know that the war do not end until the last breath left the body, I know EMO is giving the best effort to come back, and remember this "The good people is more" so I still supporting EMO and I know after this when EMO come back to many people just will run away and some other will keep telling untrue stories, but as I can read in this forums most of the EMO customers will be loyal to EMO and this will be my attitude here.
EMO need us now, I am reading the posts of Spaced and I think the same. EMO is not over, we need to fight. And the way we can do it is telling the true.
Remember, the state is not God, they can loose too. This is the time for the people to make justice, we can do it.
Support EMO = Support the true.

I want to know is there any way to get back 3 K i have in EMO
But any means
i really needed that money

thanks

Try this:
http://www.moneymakergroup.com/index.php?s...6&#entry1967386

NUK

i belive EMO is dead
it was one of the best Emoney sites
but as usual someone kill it
time to search for alternative

sweetgirlof19years, I had $3500 in EMO also, I went to my bank and requested an ACH reversal. Had to sign form, and give them a copy of my bank statement showing in March when the funds were sent to EMO. I got a letter stating my bank issued the reversal back to me, checked my account and the money was in there. You have nothing to lose, either do a chargeback if you funded EMO by CC, or do and ACH reversal if funded by bank account.

what should i do if my $ in EMO is recieved from 12D~?

So I guess I'm screwed since I funded with money orders?

Thanks for helping me
I have funded my EMO account by egold
I want to keep safe my money so i choose to keep in EMO till i get their debit card
that was mistake but keeping in egold is not safe
I lost all my money in egold last week as the hacker took all my money from there

You too, huh? I will use CC next time.

sweetgirlof19years, I'm so sorry to hear your E-gold got hacked. Mine also almost got hacked. I have McAfee Security Suite, but I knew it was not enough for protection, so I got Spyware Doctor, ran a scan and it found 113 spyware and trojans on my computer, with the dreaded E-gold trogans, 3 of them! It cleaned my computer and got rid of them. Now I run the Spyware all the time, and scan a couple of times a day, it really works great.

it's really screwed me. I 've 5k stucked in there. what a day!

I did a credit card charge back like 3 months ago and now my credit card company is claiming the emo is just a money order service, so bottom line is its like I bought cash and I am not protected. I am going to try and dispute the decision but was informed that my chances of winning are slim to none.

Get this the payment I had sent was suppose to go to massive payments and EMO is claiming that I requested the money to be sent to stormay. I am so confused, stompay had nothing to do with this. ANy thoughts pm me.

I believe that it will work this way, Accounts that where connected with Bank accounts that were actively transferring into EMO and credit cards should be released first because these accounts members can show documented proof threw Bank Statements and CC statements of transactions ie: deposits withdrawls ect.This could possibly bring lawsuits with the banks as witness to actual legit accounts with EMO, standard accounts that arent linked up with banks and such Im not sure how they will handle them. But I am not giving up on it There is a crap load of money that belongs to other people in my EMO account and I want to see them get refunds.
there was just simply to much money in there for them to legaly keep it all

Actually all claimants must be treated equally for the disbursement of funds. So what you suggested will not happen.

The receiver has already filed motion on May 17th to pool all the remain EMO funds to be used for settling the claims against EMO with pro rata distributions. In addition a motion was filed on the 17th for approval of the Claims Submission Plan. I highly recommend reading the latest PDF posted by the receiver if you have significant funds tied up in EMO.

Claims Procedure Plan

Its very likely that the court will approve these plans and once approved we will have 60 days to file our claim against EMOs assests as outlined in the plan. For those with less than $5000 tied up in EMO you do not have to do anything other than verify that your contact information is correct. Those with > $5000 will need to file a claim form and substantiate their rights to the claimed amount.

Once the motions get approved the EMO website should be available for all account holders to log into their accounts and be able to see their account balances.

I highly suggest if its availble that you make printouts of all your transaction history etc.. Come next year you will need that proof to deduct the difference between your claim and actual distribution on your income taxes.

Pages 23 and 24 of the pdf outline the reasoning behing pooling the assests of EMO and providing disbursment of those funds on a pro rata basis to all claimants.

Page 10 shows a sample email that all account holders should receive once the motion has been approved by the court.

All claimants that potentially have a class B or class C claim against EMO will also receive the claim form on page 16.

I would venture to guess we will be lucky to see more than 20% of the claim amount.. but its impossible to tell at this point. I'm suprised that the claim procedure is happening as fast as it is.. so who knows..

I got that money from 12DP... sigh

I HAVE A FRIEND WHO IS AN ACCOUNTANT AND I DO BELIEVE THAT NEXT YEAR WHEN YOU FILE YOUR TAXES THERE IS A WAY YOU CAN AS A TAX WRITE OFF ALL OF THE LOSSES INCURRED BY THE EMO LOSS AND GET YOUR MONEY BACK AS A REFUND. CHECK WITH YOUR LOCAL ACCOUNTANT SO THERE CAN BE A SILVER LINING IN ALL OF THIS MESS...

Yes you can deduct the losses from EMO from your taxes if you have enough deductions to itemize. You will not however get all the money back as a refund as it is a deduction and not a credit. How much you will get back depends on your tax bracket and your other deductions.. you will also need to retain proof to substantiate the loss in case you are ever audited. (statements showing money going into EMO, account balance in EMO as of 3/9/05, and court orders. Also you must deduct from the loss any restitution that the court may provide. So say we get a 15% settlement you can only deduct 85% of the loss on your taxes.

hello,

I would request your inputs at one issue I have, and would appreciate if you could help with your comments.

During the 12dp saga, I had used my WellsFargo cc to fund my EMO account, this money went to 12dp.

Later on, 12dp went down and so did EMO.

I filed a dispute with my bank for 3k. They put the money back in my cc account.


Now I got another letter from wells Fargo, stating that they have heard back from EMO and I have respond to them.EMO states the money did go to 12Dp and they have nothing got to do with the charge back.If the bank agrees, I will have to bear 3k on this.


I dunno what to do and how to put it across that I can save this blow on me.I need to respond to wellsFargo on this asap in 2 days.


Can you suggest a suitable answer which may help me out of this.


Thanks in advance.

Mik

(please PM)