On November 15, 2018, the United States District Court for the District of Utah appointed Jonathan Hafen of the law firm Parr Brown Gee & Loveless as receiver for the assets of Gaylen Dean Rust, Rust Rare Coin, Inc., Denise Gunderson Rust, Joshua Daniel Rust, Aleesha Rust Franklin, R Legacy Racing Inc., R Legacy Entertainment LLC, R Legacy Investments LLC, and their affiliates. Pursuant to the Appointment Order, the Receiver is in the process of liquidating and recovering assets.
Additionally, on August 30, 2019, the Receiver sent out over 4,000 claim forms to possible claimants. The deadline to submit all claim forms to the Receiver was October 4, 2019. At this time, the Receiver has begun analysis of the claims.
Please know that the Receiver and his team are working as quickly as possible to gather, preserve, and ascertain the distribution of assets of the Receivership Estate. The Receiver has received hundreds of claims from various stakeholders and is working on analyzing each individually. Please use the form below to provide questions and concerns regarding the claims process. We appreciate your patience as we work to respond to each inquiry.
UPCOMING HEARINGS:
TAX INFORMATION FOR INVESTORS:
The following two documents are not intended to provide tax advice to investors. However, they discuss the prescribed treatment for investors if it is determined that the Rust Rare Coin, Inc. et. al. operation was a Ponzi scheme.
Rust Rare Coin – Theft Loss Memo for Investors
NEWS:
- Submission Lodging Nonparty Objections to Receiver’s Proposed Distribution Plan, Objection Procedure, and Claim Analysis – 7/7/2020
- Order Granting Motion for Order of Sale – 5/22/2020
- Motion for Order of Sale of Musician’s Toolkit – 5/22/2020
- Order Establishing Objection Procedure to Proposed Distribution Plan – 5/1/2020
- Receiver’s Sixth Quarterly Status Report for the Period of January 1, 2020 to March 31, 2020 – 4/30/2020
- Motion to Approve Distribution Plan, Objection Procedure, and Claim Analysis – 4/24/2020
- Order Granting Receiver’s Motion for Permission to Liquidate & Abandon Inventory of Rust Rare Coin, Inc. – 3/12/2020
- Order Granting Fifth Interim Fee Application – 3/10/2020
- Fifth Interim Fee Application – 3/10/2020
- Order Grant Motion for Hearing to Confirm Private Sale of Main Street Property in Homer, Alaska – 2/25/2020
- Notice of Errata re Receiver’s Fifth Quarterly Status Report – 2/3/2020
- Receiver’s Fifth Quarterly Status Report for the period of October 1, 2019 to December 31, 2019 – 1/30/2020
- Motion for Hearing to Confirm Private Sale of Main Street Property in Homer, Alaska – 1/23/2020
- Receiver’s Reply to Objections re the Sale of Rust Rare Coin Inc. Inventory and Request for Hearing – 1/17/2020
- Notice of Claim Form and Claim Procedure Publication – 1/16/2020
- Order Granting Motion to Confirm Private Sale of Huge Studios – 1/15/2020
- Order Granting Fourth Interim Fee Application – 1/02/2020
- Fourth Interim Fee Application – 12/31/2019
- Motion for Hearing to Confirm Private Sale of Huge Studios – 12/31/2019
- Order Granting Motion for Settlement Authority – 12/11/2019
- Order Granting Motion to Approve Settlement Agreement with Shawn Olsen – 12/11/2019
- Motion for Settlement Authority – 11/25/2019
- Motion to Approve Settlement Agreement with Shawn Olsen – 11/22/2019
- Order Granting Motion to Approve the Sale of Master Recordings to Jeannine Goeckeritz – 11/21/2019
- Order Granting Motion for Hearing to Confirm Private Sale of Victorian Property – 11/14/2019
- Motion to Approve the Sale of Master Recordings to Jeannine Goeckeritz – 11/06/2019
- Receiver’s Fourth Quarterly Status Report – 10/31/2019
- Motion for Hearing to Confirm Private Sale of Victorian Property – 10/23/2019
- Order Granting Receiver’s Motion for Reappointment and Expedited Consideration – 10/09/2019
- Order Granting Third Interim Fee Application – 9/26/2019
- Notice to Submit for Decision – 9/20/2019
- Motion to Approve Third Interim Fee Application – 9/4/2019
- Commodity Futures Trading Commission, et al., v Rust Rare Coin Inc., et al. Claims Packet 8/30/2019
- Order Granting Motion Seeking Approval of Proposed Claim Procedures, Claim Deadline, and Claim Forms – 8/19/2019
- Update Regarding Contact Information and Claims Packet – 8/15/2019
- Motion Seeking Approval of the Proposed Claim Procedures, Claim Deadline, and Claim Forms – 8/02/2019
- Receiver’s Third Quarterly Status Report For the period April 1, 2019 to June 30, 2019 – 7/30/2019
- Receivership Update – 7/23/2019
- Motion for Turnover of $1.6 Million Interpled into the Court by Zions Bank – 7/16/2019
- Order Granting Motion to Confirm Private Sale of Big Door Property – 7/15/2019
- Order Granting Motion to Approve Sale of the Writer’s Den, LLC – 7/5/2019
- Motion for Hearing to Confirm Private Sale of Big Door Property – 7/1/2019
- Order Granting Motion to Approve Settlement Agreement with Aleesha Rust Franklin – 7/1/2019
- Order Granting Motion to Approve the Sale of Master Recordings to Sarah Clanton – 6/19/2019
- Order approving Private Sale of Sea Breeze Property – 6/19/2019
- Order Appointing Appraisers for Victorian Home – 6/19/2019
- Motion to Approve Sale of The Writer’s Den, LLC – 6/19/2019
- Motion to Approve Settlement Agreement with Aleesha Rust Franklin – 6/14/2019
- Order Granting Second Interim Fee Application – 6/10/2019
- Order Approving Private Sale of Leasehold Interest – 6/5/2019
- Order Granting Motion to Confirm Private Sale of St. George Condo – 6/5/2019
- Notice of Hearing on Motion – 6/5/2019
- Order Approving Private Sale of Receivership Property – 6/5/2019
- Motion for Hearing to Approve Private Sale of Receivership Property – 6/4/2019
- Motion to Confirm Appointment of Appraisers for Victorian Home – 6/3/2019
- Motion to Approve the Sale of Master Recordings to Sarah Clanton – 5/28/2019
- Second Interim Fee Application – 5/24/2019
- Second Corrected Notice of Hearing on Motions – 5/22/2019
- Motion for Expedited Hearing to Approve Private Sale of Receivership Property – 5/21/2019
- Corrected Notice of Hearing on Motion to Approve Private Sale of Receivership Property and Motion to Confirm Private Sale of St. George – 5/21/2019
- Motion to Approve Settlement Agreement – 5/16/2019
- Notice of Hearing to Approve Private Sale of Receivership Property – 5/15/2019
- Motion for Hearing to Approve Private Sale of Receivership Property – 5/14/2019
- Motion for Permission to Liquidate – 5/8/2019
- Grand Jury Returns Indictment – 5/8/2019
- Motion to Approve Transfer of Funds to Jeff and Patricia Watson – 5/1/2019
- Receiver’s Second Quarterly Status Report – 4/30/2019
- Response to Zion Bank’s Receivership Interpleader Motion – 4/16/2019
- Motion to Allow Summary Disposition Procedure – 4/16/2019
- Signed Order Denying Motion to Modify Order Freezing Assets – 4/4/2019
- Signed Order Staying Civil Case Pending Outcome of Criminal Proceedings – 3/20/2019
- Signed Order Appointing Appraisers & Approving Engagement of Consultant for Sale of Huge Studios – 3/20/2019
- Reply to Pl’s Resp & MIO to Denise Rust’s Motion to Modify Order Freezing Assets – 3/18/2019
- Receivership Interpleader Motion – 3/13/2019
- Signed Order Granting Motion to Intervene – 3/12/2019
- Signed Order Appointing Appraisers – 3/8/2019
- Redacted First Interim Fee Application – 3/8/2019
- Notice of Consent to Entry of Pls’ Proposed Order to Stay Civil Case Pending Outcome of Criminal Proceedings – 3/8/2019
- Signed Order Sealing Documents – 3/5/2019
- Signed Order for Extension of Time to File Reply – 3/4/2019
- Signed Order for Extension of Time to File Reply – 3/1/2019
- Stipulated Motion for Extension of Time to File Reply – 3/1/2019
- Motion to Approve Use of Broker’s Price Opinions, Comparative Market Analysis, Restricted Appraisal Reports – 3/1/2019
- Motion to Confirm Appointment of Appraisers & Approve Engagement of Consultant for Sale of Huge Studios – 2/26/2019
- Sharyn Heiner’s Motion to Intervene – 2/13/2019
- Joshua Rust’s RIS of Motion to Stay – 2/12/2019
- Reply MIS of Motion to Stay Civil Cases Pending Outcome of Criminal Proceedings – 2/12/2019
- Zions Bankcorporation’s Motion to Intervene – 2/12/2019
- Motion to Modify Order Freezing Assets – 2/11/2019
- Motion to Appt. Appraisers 1121 Seabreeze Court, Homer, AK – 2/11/2019
- Motion to Appt. Appraisers 65299 Diamond Ridge Road – 2/11/2019
- Motion to Appt. Appraisers 3657 Main Street, Homer AK – 2/11/2019
- Motion to Appt. Appraisers 4025 Homer Split Road, Homer AK – 2/11/2019
- Online New Mexico-Based Dispersal Auction Takes Place Feb. 22-25 – 2/14/2019
- Sport Horse Auction: Go to the Auction – 2/14/2019
- Response to Motion to Stay Civil Cases – 2/5/2019
- Frequently Asked Questions – 2/5/2019
- Order Appointing Appraisers & Confirming Private Sale – 2/1/2019
- Receiver’s Initial Status Report – 1/31/2019
- Motion to Sell & Abandon Assets – 1/17/2019
- Motion Private Sale of Properties – 1/14/2019
- Court Order – 1/3/2019
- State: Ponzi scheme involving Utah rare coin dealer ‘larger than previously alleged’ – 12/18/2018
- CFTC revises estimate of investor losses caused by precious metals Ponzi scheme – 12/17/2018
- Utah rare coin dealer accused of running multimillion-dollar Ponzi scheme – 11/16/2018