About The Case
Between March 2011 and May 2014, defendants William Sears (“Sears”) and Scott Dittman (“Dittman”) conspired to commit securities fraud and wire fraud through FusionPharm, Inc. (“FusionPharm”). Specifically, Sears and Dittman reported to the public that certain sales transactions and revenues for FusionPharm had occurred when, in fact, they had not.
This was an investment fraud scheme and most investors didn’t receive any earnings from the scheme and lost their investment.
Forfeiture occurs when a court of law declares the proceeds of a crime to be the property of the government.
Remission is the process by which forfeited assets are returned to the victims of the crime underlying the forfeiture. Authority to grant remission rests with the United States Attorney General, as delegated to the Money Laundering and Asset Recovery Section of the U.S. Department of Justice. The remission process is set forth in the Code of Federal Regulations, Chapter 28, Part 9 (2019).
Investors who traded in FusionPharm shares under the FSPM ticker between 2011 and 2014 and who submit a timely and valid petition form, may be eligible for remission.
To be considered for remission, you must submit a Petition Form to the Remission Administrator. If you received a Petition Form in the mail, you can mail your Petition Form to the Remission Administrator, send it by fax to (952) 404 -5750, or email a PDF of your completed petition form to info@FusionPharmRemission.com. If you previously submitted a Petition Form with the U.S. Attorneys Office, you do not need to resubmit the Form.
If you did not receive a Petition Form in the mail, you can download a form here.
You must complete all information requested on the form, sign it under the penalty of perjury, and include sufficient documentary evidence of your investment.
You must provide supporting documents for the money you lost from trading in FSPM in the secondary market between March 1, 2011 and September 30, 2014.
Acceptable supporting documents indicating an investment in FusionPharm include stock certificates, brokerage firm records, complete, unaltered copies of cancelled checks, wire transfers records, bank statements or similar official transaction records. Bank statements must show the account holder’s name; bank information; and transaction dates, descriptions, and amounts. Screenshots of electronic account information are acceptable, but they must identify the date of transactions and names of account holders.
The deadline for submitting your Petition form electronically is December 30, 2021. If you mail your Petition form to the Remission Administrator, it must be postmarked no later than December 30, 2021.
The amount of each victim’s recovery will not be known until the petition review process is completed.
No, do not send any money to the Remission Administrator or to any persons claiming to represent the United States Government. All expenses associated with the remission process are paid through the United States Government.
Please note Analytics is the only authorized Remission Administrator for this case.
Although you may, you do not need to hire your own attorney to participate in the Remission process. Hiring an attorney to represent you will not result in receiving money sooner than if you did not hire an attorney and you will have to pay reasonable attorney fees to the attorney representing you in this remission process.
We do not know when remissions will be paid. The Remission process will likely take a considerable amount of time. The Remission Administrator will update this website once definite timelines are established.
No. Persons who submit a Petition Form do not lose any legal rights or claims they may have against FusionPharm.
If your petition is approved, it must be reviewed by the Treasury Offset Program to verify that you do not owe any money to the federal government or certain state debts. If you owe money, your payment will be used to pay your debt. If your payment is more than the amount you owe, you will get the remainder.
If you do not submit a Petition Form, you will not receive any distribution from the forfeited funds, even if you would be eligible for remission.