On June 24, 2019, on motion of the Securities and Exchange Commission (“SEC”), the United States District Court, Central District of California, Southern Division (the “Court”), entered an order appointing Jeffrey Brandlin as the receiver for NTV Financial Group, Inc. and its affiliates and subsidiaries (“NTV”). This followed an order obtained by the SEC on June 14, 2019, freezing the assets of NTV and enjoining Richard Vu Nguyen from engaging in fraud and from accessing any securities brokerage account of any third party, even with the consent of the account holder. The Receiver is unable to return any funds invested with NTV at this time, although the goal of the receivership is to locate assets and to make a distribution to investors. Please review the FAQ for answers to commonly-asked questions.

The Receiver has sold the real properties that the receivership estate owned and has filed lawsuits to recover certain payments, many of which have been settled. Litigation continues on the cases that have not already settled. The Receiver is in the process of preparing and filing a motion to approve procedures for creditors and investors to file claims with the Receiver. Once the Court approves the procedures, the Receiver expects to give investors and creditors 90 days from the Court’s approval to file their claims. Once any disputes about claims are resolved and the SEC agrees that the timing of a distribution is appropriate, the Receiver will submit a proposed distribution plan to the Court for review and approval. The Receiver does not currently have an estimate of when that will occur.

On December 2, 2021, the Receiver hosted a virtual meeting by Zoom to give investors an update on the status of the case and an opportunity to ask questions. The meeting was recorded and a link to the meeting is as follows:

https://us02web.zoom.us/rec/share/EClzA0AzmHxHAitu-54b_EZK9lPFXCVYQ_ZHaB6gk9R9r3ZBFQPgEsP-SBtgevgA.5b1UkmrEliwPcbTN

The passcode is Pxz5Q=p5. The Power Point presentation that was shared at the meeting can be located in the Documents available on this website.

The deadline to submit claims was August 15, 2022.  On September 1, 2023, the Receiver filed a motion with the Court for authority to distribute funds to investors.  The proposed distribution will result in all investors receiving at least 40.66% of their investment back.  On February 21, 2024, the Court issued its ruling on the fee applications submitted by the Receiver and his counsel, reducing by approximately 30% the amount authorized to be paid from what was sought.  Because that reduction will result in a small increase in the amount available for distribution to investors, the Court denied the Receiver’s prior distribution motion as moot and ordered the Receiver to file a revised motion by March 6, 2024.  The Receiver is preparing that motion and it will be set for a hearing on April 15, 2024.  The motion will be available on this website after it is filed.

The Receiver is informed that Richard Nguyen may be seeking new investments, perhaps using the “NTV” name or email address.  If you are considering making an investment with him, you might want to seek the advice of a licensed financial advisor.  If you would like to share any solicitations with the Receiver, please email kandrassy@swelawfirm.com.

The Receiver has set up this website to provide information to the creditors and investors of NTV. The website will be updated periodically so please check back for updated information. This website and its contents are not substitutes for legal advice and creditors and investors should contact their own counsel to obtain legal advice.

To view certain Court related documents for this matter, please click here.

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