Distribution Agent Announces CKB168 Fair Fund

CHANHASSEN, Minn., Feb. 3, 2023 /PRNewswire/ --

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK

On August 12, 2022, the U.S. District Court for the Eastern District of New York entered a final judgment against defendants CKB168 Holdings Ltd. ("CKB"), WIN168 Biz Solutions Ltd. ("WIN"), CKB168 Ltd. ("CKB168"), CKB168 Biz Solution, Inc. ("Biz Solution"), Cyber Kids Best Education Ltd. ("Cyber Kids"), Rayla Melchor Santos ("Santos"), Hung Wai "Howard" Shern ("Shern"), Rui Ling "Florence" Leung ("Leung"), Daliang "David" Guo ("Guo"), Yao Lin ("Lin"), and Joan Congyi "JC" Ma ("Ma"), and relief defendants Rosanna LS Inc. ("Rosanna") and Ouni International Trading, Inc. ("Ouni").

The SEC's complaint, filed on October 9, 2013, charged 16 defendants with perpetrating a worldwide pyramid scheme from mid-2011 through October 2013. According to the SEC's complaint, three CKB executives, Santos, Shern, and Leung, together with top promoters living in the U.S., including Guo, Lin, and Ma, orchestrated and carried out the scheme, which ensnared investors in New York, California, and other areas with large Asian-American communities. The executives and promoters collectively raised tens of millions of dollars from investors in the United States, Canada, Taiwan, Hong Kong, and other countries in Asia.

The Defendants in this matter paid a total of $4 million to the Commission. By Order entered August 25, 2022, the Court established a Fair Fund, so the civil penalties paid by the Defendants can be distributed to harmed investors.

To receive a payment from the Fair Fund, you must satisfy the following: 1) You must have invested in CKB168 or CKB during the Relevant Period (March 2011 and October 2013, inclusive); 2) Your investment must calculate to a Recognized Loss Amount pursuant to the Plan of Allocation and the Distribution Payment must equal or exceed $10.00; and 3) You are not an Excluded Party as defined in the Plan of Distribution (the "Plan").

You can file an online Claim Form or obtain a physical Claim Form by visiting www.CKB168FairFund.com. To submit a Claim Form by mail, you must submit it to CKB168 Fair Fund, c/o Analytics Consulting LLC, Distribution Agent, P.O. Box 2004, Chanhassen, MN 55317-2004. All Claim Forms are due by May 22, 2023.

For more information:

Copies of the Plan, the Plan Notice, and the Claim Form are available at www.CKB168FairFund.com as well as background information. You may also call 1-855-579-3088 or email the Distribution Agent at [email protected].

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