Dear Clients,
Over the course of the previous week, we received number of comments in regard to our last Newsletter. As a reminder, we directed a request to the RCM platform to freeze the assets of the Jubilee Group, totaling 2,164,603,559.08 USD that is currently held in their accounts until the resolution of the ongoing legal proceedings.
The objections pertained to our request to freeze the full sum of over 2.16 billion USD, given that we act on behalf of clients who claim slightly above 350 million USD.
The following is our commentary on the points raised:
- The subsequent statements made by the Jubilee group have not convinced us that they have instituted all requisite administrative measures and secured the necessary certifications and licenses for the unfreezing of funds held by RCM. Their efforts have taken too long. A straightforward resolution to this issue is possible. Upon the Jubilee Group publicly announcing that they have secured the necessary legal authorization to release the funds from RCM and have provided sufficient guarantees to compensate our clients, we will retract our request.
- The comments further state that clients who did not hire our office are adversely affected because we have blocked all funds of over $2.16 billion while only representing a claim of slightly above $350 million. The freeze of the entire fund will not have negative impact on other affected parties. Anyone can request a block or recovery of assets if they provide sufficient evidence.
- As an attorney, I represent the interests of individuals who have engaged my services. Other parties represent themselves or have their own legal counsel. I am legally unable to represent individuals who have not hired our office and submitted their claims through our DefendMe platform. These parties, however receive indirect benefits from our actions and as far as we are aware, no one else is handling this case in accordance with the law and the interests of the affected parties.
- It is important for those who have been impacted by the Jubilee Group to be aware that they must formally report any damages they have suffered in accordance with legal requirements, in order to be eligible for compensation when payments are made. Claims must be made through a formal request and will not be paid out otherwise. Individuals who have been harmed and do not take steps to reclaim their funds might not be considered as the courts will be unaware of their existence. Any remaining funds after compensation has been paid will be transferred to the state. Our assessment of the situation indicates that the total damages caused by the Jubilee Group are in excess of $4 billion. Those who have not yet reported their claims may still do so via our DefendMe platform. According to the law, restitution claims can be submitted until the conclusion of the trial. If you are interested in hiring our office, we can include your claim as part of our collective lawsuit.
Zoran Miljakovic
Attorney at Law