Sued or Sanctioned

Arete Financial Freedom Employee Back Pay Frozen for Now

Written by Steve Rhode

While Arete Financial Freedom had a temporary victory yesterday and will be able to begin servicing previous consumer accounts again, employees will still have to search for back pay due.

The Receiver has posted:

“As you may know, the Court issued a Temporary Restraining Order and Preliminary Injunction, which included an asset freeze and appointment of a receiver. Pursuant to the Court’s orders, the Receiver is not authorized to pay any pre-receivership debts or obligations without further court order. The government has alleged consumer injury of more than $43 million and the assets frozen to date are a fraction of this amount. As such, the Receiver does not intend to seek an order to pay pre-receivership payroll.

The Receiver has received several inquiries concerning W-2s from former employees. If you worked for Arete Financial Services, Paylocity, the payroll provider, will issue W-2s by January 31, 2020 via U.S. mail. If your mailing address has changed, please email your new address to [email protected] with the subject line “ARETE – W-2 ADDRESS CHANGE”.

If you worked for Premier Solutions Servicing, the Receiver has contacted Wells Fargo, the payroll provider, and instructed them to issue W-2s. We expect Wells Fargo to issue W-2s by January 31, 2020. If your mailing address has changed, please email your new address to [email protected] with the subject line “PSS – W-2 ADDRESS CHANGE”.” – Source

READ  Arete Financial Freedom Employees Clean Out Dates and Receiver FAQs



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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