UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF FLORIDA
IMPORTANT NOTICE ABOUT A PROPOSED CLASS
ACTION SETTLEMENT THAT AFFECTS YOU
PLEASE READ THE NOTICE CAREFULLY. A FEDERAL COURT AUTHORIZED THE NOTICE.
THIS IS NOT A SOLICITATION FROM A LAWYER.
A Settlement of $26.625 million has been reached in a class action lawsuit brought by a group of Plaintiffs, Gilmer Bautista, Gilmer’s Enterprise LLC, Juan Mendoza, Alejandro Diaz, and Tyler Witter (“Plaintiffs”), who invested money in the “MJ Capital Scheme” (as further defined below).
Plaintiffs allege that they and many other investors were defrauded by the investment scheme Johanna Garcia, Pavel Ruiz, other board members, owners, account representatives, managers, team leads and other promoters, including their affiliates and subsidiaries, perpetuated (the “MJ Capital Scheme”) through the use of the MJ Capital Receivership Entities (namely, MJ Capital Funding LLC, MJ Taxes and More Inc., Pavel Ruiz MJCF LLC, and UDM Remodeling, LLC). They allege that their investments were in fact part of a “Ponzi scheme” where the new money from investors was used to pay returns to other investors or was stolen by the MJ Capital Scheme. Plaintiffs brought a class action lawsuit against Wells Fargo Bank, N.A. (“Wells Fargo”) alleging that it aided and abetted MJ Capital in the fraud.
Plaintiffs, Defendant and Receiver agreed to enter into this Settlement to avoid the uncertainties, delays and expenses of ongoing litigation, while providing "Settlement Class Members" with definite benefits now. The purpose of the Notice is to inform you of the class action and the proposed Settlement so that you can decide what to do.
Because your rights may be affected by this Settlement, it is important that you read the Notice carefully.
If you have previously submitted a proof of claim to the Court-appointed Receiver for MJ Capital by July 19, 2022, then you do NOT need to do anything to request to participate in the Settlement. Your previously submitted proof of claim will be treated as your request to participate in the Settlement. Please do NOT file a Claim Form.
If you did not previously submit a proof of claim to the Court-appointed Receiver for MJ Capital by July 19, 2022, then you should review the Notice carefully to confirm your eligibility as a Settlement Class Member, and follow the instructions for completion and submission that are on the “File a Claim” tab on this site. You are what is referred to as an “Additional Claimant” in the Notice and the Settlement Agreement. The deadline for an Additional Claimant to submit a Claim Form is June 9, 2023.