This is not the receiver’s site

Some folks coming to the site may be a bit confused.  This blog is not the receiver’s site and I don’t have any kind of direct communication with the receiver.  The receiver’s website is located at http://www.nasi-receivership.com/. The questionnaire (formerly known as the “survey”) is also there.

The receiver cannot personally answer each one of you right now, either by email or phone.  The rumors I heard were that thousands of people were victimized by NASI.  Given that, responding to everyone personally would simply take too much time.  Think of it this way, if 2000 people were scammed and it takes 20 minutes to respond personally by email or phone (ha, you know those phone calls will be longer), and if Hoffman hired two people whose sole job it was to return communications for 8 hours a day, then it would take those two people forty one days (not including weekends) to get back to all of you.

But that doesn’t mean that they’re not listening.  If you’ve sent an email and received the auto-response, then they know about you.  If you’ve called and left a message, then they know about you.  And please stop posting your phone numbers in comments on the blog.  There are scammers out there who specifically target victims of scams and you don’t want on their mailing list – which is why I’ve hidden all comments which contain such information.

But, some good news is that the receiver has posted answers to your common questions on his site, and since he puts it in PDF format, I’ve opted to reprint it below for easier access:

Investor Question and Answer to Your Emails

October 29, 2014

Dear NASI Investor,

Thank you for your email. Please be assured that we are reading them but there are too many to respond to each one individually. Instead I will try to answer the more common questions.

Thank you,
William J. Hoffman, NASI Receiver

Question: What should I be doing to protect my interest as investor in NASI? Do I submit some sort of claim with you? I am looking for direction as to what information you would like from me.
Answer: The most helpful thing you can do now is complete the Questionnaire that is posted on this website. We are currently going through all the records and matching the information to all of the NASI records we already seized. Also, please hold onto your records as we may need them in the future.

Question: Is there any chance of recovering the money?
Answer: We do not know yet because we have not had enough time to go through all of the records and to track all of the funds. However, I can assure you that I have a team working on it.

Question: How can we help in the case?
Answer: Again, filling out the Questionnaire and holding onto your records is the most helpful thing you can do for now. At some later time the SEC, Department of Justice or I may request your additional help.

Question: What data do we have to provide to you or the court?
Answer: At this time you need not present anything to the court. I will be reporting to the court and that information will be available to you on the website.

Question: If you could explain the recovery process, the time frame, what we could expect.
Answer: We are currently investigating NASI’s business records, related businesses, and history of their activities in order to build a picture of what occurred. The goal is to recover as much as possible but we are too early in the process to know how much that will be, or how long it will take.

Question: Will a fair fund or other type of recovery be set up for the investors to recover their money? If so, how and when does this happen?
Answer: Everything we recover will go into receivership estate and protected for the court. What is done with any recovery will ultimately be determined later and will have the Court’s involvement.

Question: I am wondering if the Receiver works on behalf of Canadian investors as well as American investors.
Answer: Technically the receiver works on behalf of the Court however our goal is to recoup as many funds as possible on behalf of all investors, no matter their nationality.

Question: According to the filings, NASI did own 235 machines with a onetime reported monthly income of $115,159.84. What happens to these machines and the income that they generate?
Answer: We are making that determination now. Ultimately the court will make the decision.

Question: I see that the officers of NASI are to appear in court on the 10th of November. Will investors be permitted to witness this hearing?
Answer: Our U.S. Constitution guarantees that most court proceedings are open to the public. I do not expect the court will allow any members to speak or ask questions, however.

Question: It didn’t look like my questionnaire went through. What else can I do?
Answer: If your email does not go through feel free to mail it and any other communication to the following address: