General Information 

This website has been established to foster communications between the Monitor for the Monex Restitution Fund and Monex customers who may be entitled to restitution in connection with the Consent Order entered into by Monex and the Commodity Futures Trading Commission (“CFTC”). The Consent Order provided that Monex pay $33,000,000 as restitution to customers that experienced losses on leveraged commodity transactions after July 16, 2011. On April 3, 2023, the District Court modified the Consent Order with an Order Modifying Consent Order and Appointing Substitute Monitor and appointed Thomas Seaman to serve as Successor Monitor.
 
On June 25, 2024, pursuant to a Joint Stipulation filed by the parties and the Order Modifying Consent Order and Appointing Substitute Monitor, the Court has now appointed Krista L. Freitag as the new Substitute Monitor in place of Thomas Seaman Company. It is important to note that the Monex Restitution Fund email address and phone number remain the same.  Going forward, the physical mailing address is: Monex Restitution Fund, c/o Krista Freitag - E3 Advisors, 501 W. Broadway, Suite 290, San Diego, CA  92101.
 
The Monitor filed a Distribution Plan and Motion for the Court’s approval thereof, which you can access here; the Court removed the December 16, 2024 hearing from its calendar and, as noted below in the Latest Postings, the Court has entered the Distribution Order (approving the Distribution Plan), which you can access here. 

 

IF YOU ARE A CUSTOMER CLAIMANT (a holder of an Allowed Claim approved by the Court), AS OF FEBRUARY 3, 2025, PLEASE NOTE THAT THE VAST MAJORITY OF THE DISTRIBUTION PAYMENTS HAVE BEEN MADE TO THE APPROVED CUSTOMER CLAIMANTS AS APPROVED BY THE COURT.  AT THIS TIME, THE MONITOR AND HER STAFF ARE WORKING TO OBTAIN ADDITIONAL PAYEE DOCUMENTATION FOR THE FEW THAT HAVE NOT BEEN PAID, FOLLOWING-UP WITH CUSTOMER CLAIMANTS WHOSE PAYMENTS HAVE NOT YET CLEARED AND CONTINUING TO WORK WITH THOSE WHOSE PAYMENT REISSUES ARE NEEDED, AS APPROPRIATE.  PLEASE BE SURE TO WATCH YOUR MAIL FOR AN ENVELOPE WITH A MONEX RESTITUTION FUND (IN SAN DIEGO) RETURN ADDRESS. 

 

Frequently Asked Questions

Answers to frequently asked questions regarding the Monex Restitution Fund are available via this link: Frequently Asked Questions.  

 

Online Claim Portal

You may access the Bar Date Notice here.
If you received log-in credentials from the Monitor, you may access your Online Claim Form by selecting the link below and using your log-in credentials:

Investor Log In: https://case.stretto.com/monex
 

Latest Postings

 

January 22, 2025 – You may access the Second Fee Application of Substitute Monitor and her Agents for Payment of Fees and Reimbursement of Expenses here.

December 10, 2024 - On December 4, 2024, the Court entered the Order: (1) Approving Monitor’s Recommended Treatment of Claims (Allowed, Disallowed, Disputed); (2) Approving Distribution Methodology and Amounts; and (3) Approving Proposed Distribution Plan (the “Distribution Order”), which means the December 16, 2024 hearing will no longer take place and the Monitor and her team are preparing to get the distributions made pursuant to the Distribution Order, which you can access here.  Upon determination of the date that the majority of distribution payments will be made, the Monitor will send out a notice by email that payments have been issued to the Customer Claimants with Allowed Claims for whom email addresses are held.  
 

November 11, 2024 - The Monitor has filed a Distribution Plan and Motion for the Court’s approval thereof, which you can access here. A hearing date was previously set for December 16, 2024 but was then canceled by the court.

 

October 7, 2024 - The Monitor has filed a Third Status Report and Accounting, which you can access here.

 

June 25, 2024 - You may access the Order Modifying Consent Order and Appointing Substitute Monitor here.

 

April 29, 2024 - The Monitor has filed his Second Status Report.  

The April 15, 2024 Bar Date has now passed and the Monex Restitution Fund Claim Intake process has ended and all claims have been entered into the Claimant Database. There are 4,778 valid claimants. Of these, 4,628 claimants agreed with the amount of the proposed claim with a total dollar value of $286,602,486.75. There are 150 claimants who assert that their losses are $27,430,989.13, or $10,219,658.64 greater than the amount determined by the Monitor. The expected recovery as a percent of the amount lost is expected to now be in the range of 10.4%. The Monitor is in the process of validating claims and reconciling and resolving disputed claims. The Monitor will attempt to come to an agreement over disputed claims. Any claims that are not resolved between the claimant and the Monitor will be submitted to the Court for a final determination and objecting claimants will be given notice of the Monitor’s Omnibus Claims Objection Motion claim to the Court. The timeframe of this process is not clear, however the Monitor hopes to distribute funds this summer.

Please refrain from calling the Monitor’s office. This only diverts resources from the claim reconciliation process and will delay the timing of the distribution. Please continue to follow this website for the status of the distribution process.
 

March 8, 2024 – The Bar Date has been extended to April 15, 2024, at 11:59 p.m. (prevailing Eastern Time) to allow time for the Monitor to locate investors who have not received or filed Claim Forms. If you have not received your claim form, please contact the Monitor’s office either by email to mail@monexrestitutionfund.com or by leaving a voicemail with your contact information at (949) 222-0305. Please have your MONEX account number available.

 

February 9, 2024 - You may access the First Interim Fee Application Of Monitor And Agents here.

 

February 2, 2024 - You may access the Monitor's First Status Report And Accounting here.

 

February 1, 2024 - The deadline to submit a claim to participate in the MONEX Restitution Fund has been extended from February 3, 2024 at 11:59 p.m. (prevailing Eastern Time) to March 29, 2024 at 11:59 p.m. (prevailing Eastern Time) (the “Extended Bar Date”) in order to allow time for more claimants to be located and file claims. Please note, if you do not submit a Claim Form on or before the Extended Bar Date, then you will forfeit your right to participate in or receive a payment from the Restitution Fund.

 

December 1, 2023 – The Monitor expects the claims process will commence on or around December 5, 2023. If you have not received your claim form by December 19, 2023, a means of communicating with the Monitor to obtain a claim form will be provided on this website. All other information regarding the claims process included in the Monitor’s October 19, 2023 update remains valid.

 

November 9, 2023 – Due to unanticipated technical issues, the claims process will commence on or around November 17, 2023. All other information regarding the claims process included in the Monitor’s October 19, 2023 update remains valid, including that if you have not received your claim form by December 2, 2023, a means of communicating with the Monitor to obtain a claim form will be provided on this website.

 

October 19, 2023 - The Monitor will initiate the claims process on or around November 10, 2023 at which time a notice of claims process and claim forms will be mailed and emailed to the last known addresses of customers who experienced losses from leveraged transactions made between July 16, 2011 and December 31, 2021.  The notice will also be published on this website.  The claim form will provide the amount of your claims proposed by the Monitor.  In order to participate in the MONEX Restitution Fund, customers will need to complete, sign and return a Claim Form.  The most efficient and fastest way to complete the Claim Form will be through a digital portal that is currently being constructed to file and administer claims, the name of which will be provided in the notice.  Alternatively, customers may submit their Claim Form by mail.  If you do not agree with the amount of loss as set forth on the portal or on the Claim Form, you will be able to submit the amount of your loss and any documentation in support of the loss.  The Monitor will evaluate the submission and provide you with his determination.  If necessary, unresolved claims will be submitted to the U. S. District Court to determine the amount of the claims.  If you have not received your claim form by November 25, 2023, a means of communicating with the Monitor to obtain a claim form will be provided on this website.