Las Vegas, NV July 17, 2023
The Eighth Judicial District Court of Nevada has
ordered Prime Trust LLC (“Prime”) into temporary receivership pending a hearing
for order to show cause scheduled for August 22, 2023. Pending permanent order of
the court, John Guedry has been appointed as receiver.
The Nevada Financial Institutions Division (“Division”),
with the consent of Prime Trust LLC, filed the receivership petition with the
court on June 26 due to insolvency concerns and the inability of the company to
operate in a safe and sound manner as outlined in NRS 669.
The court appointed receiver will take over
the day-to-day operations of the company to determine the best option to protect Prime’s clients.
A full copy of the court’s order is attached,
and a link can be found on NFID’s homepage, http://fid.nv.gov.
The Division has also issued an Order modifying the June 21 Order to Cease and
Desist to reflect the conditions established by the court.
Customers of Prime with questions concerning how this
action may impact their business should contact receiver John Guedry at John.email@example.com. The Nevada
Financial Institutions Division is not able to provide legal advice or counsel
to customers of Prime.
About the Nevada
Financial Institutions Division
The mission of the
Financial Institutions Division is to maintain a financial institutions system
for the citizens of Nevada that is safe and sound, protects consumers and
defends the overall public interest, and promotes economic development through
the efficient, effective, and equitable licensing, examination and supervision
of depository, fiduciary, and non-depository financial institutions.
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