SEC requesting continuance of ZeekRewards hearing

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LEXINGTON, N.C. — The Securities and Exchange Commission is requesting a continuance of a hearing set for Wednesday related to a request to end the receivership over Rex Venture Group LLC and

The Winston-Salem Journal reported that the request, made by “winning participants,” is scheduled to be heard in U.S. District Court in Charlotte.

The SEC wants the hearing to be delayed until at least June 15 in order to accommodate counsel involved in a criminal trial in Tampa, Fla. The agency said the receiver, Kenneth Ball, and the parties requesting the hearing do not opposed the continuance request.

Rex Venture, and Paul Burks, their principal owner, are accused by the SEC of raising money through unregistered securities from at least 2.2 million customers nationwide. That includes more than 230,000 customers in the United States and 47,000 in North Carolina.

The Lexington companies were shut down and their assets frozen Aug. 17.

Read full story: The Winston-Salem Journal

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