March 9, 2022 – Receiver is Discharged

The Court has accepted the Receiver’s Final Report and Request for discharge.  (The Order is linked on the right.)  The estate funds have been transferred to the FTC.  If the FTC implements a consumer redress program, the information will be available at the FTC’s website (https://www.ftc.gov/enforcement/cases-proceedings/refunds).

April 1, 2021

On April 1, 2021, the Court entered a Stipulated Order for Permanent Injunction and Monetary Judgment as to Defendants Lead Express, Inc., Camel Coins, Inc., Sea Mirror, Inc., Naito Corp., Kotobuki Marketing, Inc., Ebisu Marketing, Inc., Hotei Marketing, Inc., Daikoku Marketing, Inc., Takehisa Naito, and Keishi Ikeda.  (The Order is linked to the right.)

February 2, 2021

On January 27, 2021, the non-tribal parties stipulated to the entry of an order for permanent injunction and monetary judgment against Corporate Defendants Lead Express, Inc., Camel Coins, Inc., Sea Mirror, Inc.; Naito Corp., Kotobuki Marketing, Inc., Ebisu Marketing, Inc., Hotei Marketing, Inc., Daikoku Marketing, Inc., and Individual Defendants Takehisa Naito and Keishi Ikeda.  The FTC has moved for default judgment against the Tribal Defendant La Posta Tribal Lending Enterprise, and this request remains pending before the Court.

July 20, 2020 – Receiver Files Preliminary Report

On July 20, 2020, the Receiver filed his preliminary report to the Court detailing his implementation of the Preliminary Injunction as well as his investigative findings.  (The report is linked to the right.)  The receivership site in Las Vegas was permanently closed around the same time and all business records were moved to a secure storage facility.  The offices were returned to the landlord and assets were liquidated.

July 1, 2020 – FTC Complaint, TRO, and Preliminary Injunction

On May 11, 2020, the Federal Trade Commission filed a complaint against a group of companies and individuals allegedly operating a payday lending operation that violated the Telemarketing Sales Rule, Truth in Lending Act and Regulation Z, Electronic Funds Transfer Act and Regulation E.  (The Complaint is linked on the right.)

On May 19, the Court entered a Temporary Restraining Order (“TRO”), freezing defendants’ assets and prohibiting certain business activities.  Shortly after the TRO was entered, defendants ceased business operations.  (The TRO is linked to the right.)  Defendants later stipulated to the entry of four preliminary injunctions, which the Court entered on June 19, 2020.

The preliminary injunction against the corporate defendants appointed Mr. McNamara of Regulatory Resolutions as Receiver to take possession and control of the business.  (The preliminary injunctions are linked on the right.)