The current situation with ASD Cash Generator and Andy Bowdoin:

Andy has had seven criminal felony charges filed against him.  At his arraignment, he pled not guilty and demanded a trial.  He was given bail, and since that time he has been out on bail awaiting his trial.

CHARGES FILED:

Fraud by wire, radio, or television; Wire Fraud, Causing an Act to be Done;

Manipulative and Deceptive Devices, Securities Fraud, Causing an Act to be Done;

Securities Violations; Unlawful Sale of Unregistered Securities, Causing an Act to be Done.

CALENDAR FOR TRIAL:

A telephone Status Conference is set for 4/20/2012 at 10:30 AM

All defense motions are due by 8/1/2012

The Government shall respond to all defense motions by 8/15/2012

A Pretrial Conference is set for 8/22/2012 at 9:30 AM in Courtroom 8 before Judge Rosemary M. Collyer

Jury trial is set to commence on 9/24/2012 at 9:30 AM in  Courtroom 8 before Judge Rosemary M. Collyer

There has been a lot of activity in the ASD case in the last few months of 2011.  I wanted to confirm the court calendar before updating all of you about what is happening in this long, drawn-out saga known as ASD Cash Generator.

The biggest news of 2011 was the remission process for those ASD members who took the time to fill out the remission questionnaire and submit to Rust Consulting. They were the party that was contracted by the government to be responsible for making the remission payments.  Over 11,000 members did apply to Rust, and all who applied received 100% of the money they had invested in ASD returned to them.  Many members were told not to file the remission form with Rust, as they were telling people they were subjecting themselves to prosecution, it was a trick, and it would hurt Andy in his criminal trial.

There were other groups that asked ASD members to send them money and they would get their money back from the government.  All of these did absolutely nothing to get any money back from the government, and all the members who did give them money lost even more money.

Sheldon Drobney and his organization Anshell Financial Services would file on your behalf for 10% of all money recovered on your behalf.  While some did utilize his services, had they used Rust Consulting they would have received 100% of their funds, instead of the 90% received using Anshell Financial Services.

Since this was common knowledge on the Internet and various forums dedicated to providing the latest information on ASD, we did not provide this information on our site.  Because the situation was changing so quickly, any information we did post would have been outdated before you would have had a chance to read it.

The biggest question at the moment is will there be a second remission process?  The answer is no-one knows for sure.  If there is, it will be handled the same as the first remission process was handled.  Only those filing with the government appointed remission organization will receive any funds.  If there is a second remission process, the return will not be 100%.  The only reason why the first remission was 100% was because not everyone entitled to one filed.  If all had, the percentage payout would have been smaller, possibly 60-70% range, but we will never know for sure.

Before there can be a second remission process, the government has to take title to the houses, cars, boats, water toys, commercial building, jewelry, and any other material goods seized in the forfeiture in rem; and then sell them.

During the latter part of 2011, Andy set up andy’sfundraisingarmy organization where he was requesting members of ASD to contribute to his criminal legal defense fund. He stated he needed to raise $500,000.  Since opening this campaign, it fell way short of its goal only raising a little over $26,000.  Exact figures have not been released.  As of the last update at the end of October, the fund is no longer accepting money.  Andy has now resorted to having people sign up under him in OneX/QLXchange.

The next important date is the April 20 Telephone Status Conference.  While the results of this telephone conference will be available on other sites on the Internet, we will provide the results of this conference here as soon as it is available.

One last thing I want to comment on.  When ASD was raided by the Secret Service back in August of 2008, we told people that the proceedings to sort everything out, determine who were the real victims in ASD, complete the forensic accounting, and if any remission would take place it could take 2-4 years to resolve.  Many of you didn’t believe us.  Now here we are today, and here is what has transpired: 

It took 3 years for the remission to be made. 
Andy’s criminal trial will begin 4 years and 1 month after the closure of ASD. 

If there is a second round of remission payments, it will be at least 5 years at the earliest this will take place from when ASD was closed. There is no guarantee there will even be a second remission.

But one thing is for sure:  If there will be a second round to the remission process, there will be people coming out of the woodwork to get you to pay them to get your money back.  Hopefully all of you learned from the first round, they could do nothing to get your money back, and if they did you had to pay 10% when the government did it for free.  Don’t be a victim a third time.