Rege Fair Fund Distribution Plan Announced for Affected Investors

Rege Fair Fund Distribution Plan Announced

The United States District Court for the District of New Jersey has recently announced the distribution plan for the Rege Fair Fund, aiming to provide compensation to investors harmed by the actions of Swapnil J. Rege, SwapStar Capital, LLC, and Reema Rege during a specific period. This article outlines the critical details regarding eligibility and the process for filing claims.

Background

In October 2021, the Securities and Exchange Commission (SEC) filed a complaint against the defendants, alleging serious misconduct involving investment advisement and fund misappropriation. Swapnil Rege was accused of continuing to function as an investment advisor despite being barred from doing so. He allegedly failed to disclose this prohibition to his clients, instead misleading them about the legitimacy of his operations. The SEC's claims included unauthorized use of clients' funds for personal expenses, which resulted in significant financial losses for those who invested during that time.

On August 23, 2022, the Court issued final judgments against the defendants, dictating that they collectively pay over $5 million in disgorgement and penalties. This amount has contributed to the formation of the Rege Fair Fund, which now totals approximately $1.2 million, including accrued interest. The funds are held in a designated account established for managing the disbursement to eligible claimants.

Who Can Claim Compensation?

If you transferred funds to the defendants for investment from January 1, 2019, through October 31, 2021, you may qualify for reimbursement from the Fair Fund. To be eligible, you cannot be categorized as an excluded party, which includes, but is not limited to, the defendants, their relatives, employees involved in misconduct, or any firms tied to them. A minimum distribution amount of $20 will be enforced, ensuring that only substantial claims are processed.

How to File a Claim

To begin the claims process, individuals must complete and submit a Claim Form by April 25, 2025. The Claim Form is accessible online at RegeFairFund.com. Claimants can submit their forms via U.S. mail or electronically if they prefer not to utilize traditional mail services. Detailed instructions for filing and a sample Claim Form can be found on the website as well.

It's crucial that claimants respond promptly to ensure their eligibility for potential distributions. Failing to submit a Claim Form on time will result in disqualification from receiving any payments under this plan.

Additional Information

For further inquiries or assistance in filling out the Claim Form, individuals can contact the appointed Distribution Agent at 1-888-391-3385 or by email at info@RegeFairFund.com. The distribution plan and specifics regarding the Rege Fair Fund are regularly updated, and interested parties are encouraged to stay informed via the official website.

This distribution effort aims to rectify the financial impact experienced by the defrauded investors and restore some measure of justice following the misappropriations attributable to the defendants. This case serves as a cautionary tale about the importance of due diligence in investment ventures and the potential consequences of fraudulent activities in the investment sector.