(12DailyPro update) How to file a refund claim
November 17, 2007
If you were an investor of the erstwhile online investment program 12DailyPro, you now have a chance to file a refund claim and be able to get some money back if you lost money in this online scam.
Thomas Lennon, Court-appointed Receiver for the 12DailyPro (12DP) autosurf investment program, recently announced the opening of a Web Portal where investors can submit a refund claim.
12DP was an autosurf program that promised investors 12% return on their invested funds every day for twelve days. As an autosurf program, members were to run a program on their computer that would automatically view certain websites and thereby purportedly generate advertising revenue.
12DP Investors have until January 31, 2008 to login to the portal and accept or dispute the amount of the claim.
Investor claims will be calculated using the Money-In-Money-Out (MIMO) formula, which means the claim amount is equivalent to the net amount of investments (money in) and distributions made to the investor (money out).
Here is a step-by-step guide on the 12DailyPro refund process.
How to file a 12DailyPro claim
1. Visit the 12DailyPro Investor Web Portal and register for an account if you don’t have one yet. Wait for the email with the subject “Thomas Lennon as Receiver for 12daily Pro: Activation Code” and click the activation link to activate your Web Portal account.
2. Log in to the Web Portal. In the Member Account page, you will see the “Current Info” tab and the “Transactions” tab. The “Current Info” tab lists the contact information you have already provided. The “Transactions” tab lists your 12DP account information and the Receiver’s calculation of your claim.
3. Click the “Transactions” tab. Enter all email addresses that you used in connection with 12DP, StormPay, EMO or e-gold, or all account numbers assigned to you by StormPay, EMO or e-gold. Once added, the Web Portal will retrieve a report of all transactions linked to those email addresses or account numbers (see screenshot below).
4. Use the “View” link for a listing of your transaction history.
5. If your Net MIMO amount is negative, it means that your investments in 12DP exceeded the distributions you received. You will have an allowed claim in this amount if you click the “Accept” box for your reports.
6. If, however, the Net MIMO amount is positive, it means the funds distributed to your 12DP Internet account exceeded your investments. You will not have a claim unless you click the “Dispute” box for one or more of your reports and submit a proof of claim and supporting documentation.
7. If you elect to dispute the MIMO Amount, check the “Dispute” box on the “Transactions” page and submit a proof of claim form as well as copies of all documentation supporting your claim. The proof of claim form, which is available from the Web Portal and the Receiver’s main website, has instructions on it regarding what information is required and what documentation must be submitted. Each investor should submit only one proof of claim, regardless of whether you are disputing the MIMO Amount listed on one or more reports.
Here are additional information regarding the 12DailyPro refund.
- When can I receive the refund?
Refunds will be distributed once all disputes regarding MIMO claim amounts are resolved and the Distribution Plan is approved by the Court.
- Is my Claim Amount the total amount I will be getting?
Not necessarily. Refunds will be distributed pro rata to investors with allowed claims.
- How does pro rata distribution work?
Let’s assume your allowed claim is $1,000 and the total allowed claims of ALL investors is $10,000,000. Your percentage share in the total claims amount is 0.01% ($1,000 / $10,000,000). Assuming the total 12DP distributable funds is $1,000,000, your refund amount is equivalent to 0.01% of $1,000,000 or $100.
- I am not from the US or Canada, how will I receive my refund?
The Receiver is currently investigating various means of transmitting distributions to investors, including electronically. Details of these methods will be mentioned as part of the Distribution Plan that will be approved by the Court.
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