James D. Sallah
Court Appointed Receiver

Patrick Rengstl
Counsel for the Receiver
Patrick J. Rengstl, P.A.

Robert Carey
Receivership Consultant
Phone: 305.666.4663

For Claims Questions:
Cryptsy Cryptocurrency Administrator
1801 Market St STE 660
Philadelphia, PA 19103
Phone: 888.868.4936
Fax: 215.525.0209
info@cryptsysettlement.com
www.cryptsysettlement.com

Latest News

May 23, 2017

The Receiver has signed a purchase contract with a private buyer to sell the property located at 16832 Charles River Drive, Delray Beach, FL 33446 (the “Property”) for $1,150,000.00 and has filed a motion to approve the sale.  NOTICE is hereby given that on June 22, 2017, or thereafter as the United States District Court for the Southern District of Florida may direct, the Receiver will sell the Property “as is, where is” and free and clear of all liens, claims, or encumbrances for $1,150,000.00.  Any person interested in making an offer that guarantees at least a 10% increase over the $1,150,000.00 price must make such on or before 5:00 p.m. EST on June 21, 2017, to JAMES D. SALLAH, RECEIVER, 2255 Glades Road, Suite #300e, Boca Raton, Florida 33431.  All offers are subject to final approval by the District Court.  For additional details, please contact Deputy Receiver Robert Carey at (786) 371-6816.

February 16, 2017

A Court authorized notice regarding Proposed Partial Settlements of Class Action has been emailed to potential former Cryptsy accountholders.

January 30, 2017

The Receiver files his fourth report, which summarizes the receivership through January 30, 2017.


JAMES D. SALLAH, COURT-APPOINTED RECEIVER FOR PROJECT INVESTORS, INC. d/b/a CRYPTSY

On April 4, 2016, the Honorable Kenneth A. Marra of the United States District Court for the Southern District of Florida appointed James D. Sallah, Esq. as Receiver for Project Investors, Inc. d/b/a Cryptsy (“Cryptsy”), pursuant to the Order Granting Plaintiffs’ Renewed Motion for Appointment of James D. Sallah, Esq. as Receiver/Corporate Monitor over Defendant Project Investors, Inc. d/b/a Cryptsy (the “Appointment Order”).  The receivership is based on allegations that Cryptsy’s primary principal, Paul Vernon, misappropriated millions of dollars in investor funds and cryptocurrencies from a significant number of cryptocurrency investors worldwide.  Pursuant to the Appointment Order, the Receiver was appointed over, among other things, all assets, funds and/or cryptocurrencies derived from Cryptsy for the benefit of investors.

Regarding the issue on recovering assets, there may be in the future a claims procedure in the Florida legal proceeding where the Receiver makes a distribution/repayment to investors who have a valid claim/investment.  The recovery/repayment, assuming funds are even secured and available in the future, would be made in the future and in an amount or procedure yet-to-be determined and yet-to-be-approved by the Court.  Right now and for likely the next several months, the Receiver is and will be attempting to secure assets associated with Cryptsy and account/wallet information associated with Cryptsy.

If you are a Cryptsy investor and are owed money, please click the above registration link and complete the requested information.  The purpose of the registration is not to submit a formal claim in the receivership, but simply for preliminary purposes to get each investor’s name and contact information.  If you have any questions about the receivership or the legal proceeding, please contact the Receivership Consultant, Robert Carey, Esq. at (305) 666-4663 or robert@robertcareylaw.com, please type “Cryptsy” in the Subject line.

Since his initial appointment as Receiver, Mr. Sallah and his engaged professionals have been working to identify and secure assets of Cryptsy.  This web site was created to provide information to investors regarding the efforts of the Receiver to discover, marshal, and preserve for the benefit of all investors the funds and assets of Cryptsy.  As this web site will be updated frequently with selected Court filings, investor letters, and other materials, we encourage all investors and interested persons to visit frequently. Any interested person may review all of the publicly-available court filings for the instant matter by creating an account and accessing the federal court system’s “Public Access to Court Electronic Records,” or “PACER,” which is located at https://www.pacer.gov. In the event that any investor or individual concern is not addressed within this website, please contact the Receivership Consultant by email at robert@robertcareylaw.com.