Prosecution Rests In $70 Million Ponzi Mortgage Case -- Supporting Docs

POS DH LLC, ET AL. IN RECEIVERSHIP c/o Invotex, Inc. 1637 Thames St.

Baltimore, MD 21231

March 18, 2010 Re: POS DH, et al. receivership Dear Investor/Claimant: Several claimants have requested information concerning the status of the receivership estate and more specifically the likely outcome of their claims. I understand the primary motivation for these inquiries to be individuals’ need to file tax returns and their desire to recognize losses associated with their investments in the POS entities. Since the beginning of the receivership there has been an ongoing effort to identify and collect the assets of the various corporations under receivership control. That effort is nearing its end and will likely result in no more than $100,000 available for distribution. Against this amount, formal claims against the estate now total more than $58,000,000. This leaves a net distribution percentage of no more than 0.17%. Therefore, a claim of $100,000 would likely result in a distribution of no more than $170.00. Although this is only an estimate and subject to material change, it represents the best information currently available. Some investors have asked that we confirm receipt of their Proofs of Claim (“POC”). We are not able to comply with these requests because the claim administration procedures we have established do not anticipate cataloging claims until after a bar date has been set by the receivership court. We will advise you of this bar date and procedures for filing claims once it is set. We anticipate confirming all claims pursuant to procedures that the court will approve. Once the bar date has passed and the claims are reviewed, a petition to close the estate along with distribution recommendations will be made to the Court. This will not occur until after this coming summer. Hopefully, the above information will assist you in identifying any losses you may choose to claim on your state or federal income tax returns. But keep in mind that no one associated in any way with the receivership is authorized to provide tax advice to anyone. This includes advice concerning whether or in what amount investments may be deductible as an expense or a loss or otherwise includable in any tax return. Sincerely, /s/ Raymond J. Peroutka, Jr. Managing Director Invotex, Inc.

Case 8:09-cr-00213-RWT Document 1 Filed 04/22/09 Page 1 of 19



















Prosecution Rests In $70 Million Ponzi Mortgage Case -- Supporting Docs

Documents

rwt document

receivership estate

receivership court

receivership control

filing claims

claims pursuant

cataloging claims

formal claims