The purpose of this website is to provide convenient access to information about the receivership, including status reports from the Receiver, copies of pleadings filed in the case, and Frequently Asked Questions (FAQs). The website will be updated periodically, and all creditors, investors and parties in interest are encouraged to check the website for updates. If you require further information not contained in this website, you may Contact Us.

 

Notice of Receiver's Tenth Status Report (Updated July 29, 2026)

On July 28, 2026, the Receiver's Tenth Status Report was filed with Court [Dkt. 287]. A copy of the Tenth Status Report can be accessed here.

 

Update dated July 8, 2026: SENTENCING RESCHEDULED

(Defendants Gogliormella, Lacaj and Ibrahim): 

 

We previously advised (see below) that Mario Gogliormella, Steven Lacaj and Karim Ibrahim a/k/a Chris Hayes (the “Criminal Defendants”) each pleaded guilty to conspiracy to commit fraud (including securities fraud) and investment advisor fraud in connection with (i) L&G Capital Corp., through which they were alleged to have marketed shares of Pre-IPO Companies on behalf of StraightPath Venture Partners LLC (“StraightPath”), and (ii) Legend Venture Partners LLC (“Legend”), through which they were alleged to have continued to market shares of Pre-IPO Companies after StraightPath’s ceased operations in 2022 until Legend’s operations ceased in 2023.   (USA V. Gogliormella, 24-cr-00362-VSB.)

 

SENTENCING: 

 

The Criminal Defendants had been scheduled to be sentenced in July 2026.                      

 

Please note that the sentencing dates have changed.

 

SENTENCING FOR THE CRIMINAL DEFENDANTS IS NOW SCHEDULED AS FOLLOWS:

 

                           Mario Gogliormella: September 16, 2026 at 2:00 pm (Eastern Time),

                           Steven Lacaj: September 23, 2026 at 11:00 am (Eastern Time), and

                           Karim Ibrahim: September 30, 2026 at 3:00 pm (Eastern Time).

 

The sentencing proceedings are open to the public at:

 

Thurgood Marshall United States Courthouse,

            40 Foley Square, New York, NY,

                        Courtroom 518

 

VICTIM IMPACT STATEMENTS (“VIS”):  We understand that VIS submissions should be received by the United States Attorney’s Office not later than 2 weeks before the sentencing hearing(s). The VIS may be addressed to the presiding judge, the Honorable Vernon S. Broderick, and sent to Ms. Valeen S. Defendre, at Valeen.Defendre@usdoj.gov. Ms. Defendre is the Victim Witness Specialist of the United States Attorney’s Office.  If you would prefer, you may send your VIS to LegendReceiver@Otterbourg.com and the Receiver will forward your VIS to the United States Attorney’s Office on your behalf. 

 

Please note that your VIS and name will be made public and disclosed to the Criminal Defendants.  Accordingly, if you decide to file a VIS please do not include sensitive personal information (such as social security numbers, account numbers, or private medical history) to avoid public disclosure. 

 

Please note that you are not required to submit a VIS or to appear at the sentencing. Doing so is voluntary.

 

Update Regarding Criminal Action (dated June 3, 2026):  SENTENCING AND VICTIM IMPACT STATEMENTS
VICTIM IMPACT STATEMENTS
By Court order dated June 7, 2024, an indictment was unsealed against Mario Gogliormella, Steven Lacaj and Karim Ibrahim, a/k/a Chris Hayes, (the “Criminal Defendants”) charging each of them with four Counts of criminal conduct in connection with (i) L & G Capital Corp. (“L & G”), through which they were alleged to have marketed shares of Pre-IPO Companies on behalf of StraightPath Venture Partners LLC (“StraightPath”) in the period 2019 until 2022, when StraightPath’s operations ceased, and (ii) Legend Venture Partners LLC (“Legend”), through which they were alleged to have continued to market shares of Pre-IPO Companies after StraightPath’s cessation of operations in 2022 until Legend’s operations ceased in 2023.  A copy of the indictment can be accessed HERE.   In January 2026, each of the Criminal Defendants pleaded guilty to Count One of the indictment (conspiracy to commit fraud, including securities fraud) and Count Four of the indictment (investment advisor fraud).   The Receiver is not a party in the criminal case.
 
Sentencing for the Criminal Defendants is scheduled as follows: 

Mario Gogliormella: July 14, 2026 at 12:00 pm, 
Karim Ibrahim: July 16, 2026 at 11:00 am, and
Steven Lacaj: July 22, 2026 at 12:00 pm.
 
The sentencing proceedings are open to the public at Courtroom 518, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY.
 
Under the Crime Victims’ Rights Act, victims have the right to submit a victim impact statement (a “VIS”) setting forth the way(s) in which they believe they have been affected by the crimes for which a defendant has been convicted. If you believe this is applicable to you with respect to the Criminal Defendants, you may submit a VIS. The VIS may be addressed to the presiding judge, the Honorable Vernon S. Broderick, and sent to Ms. Valeen S. Defendre, at Valeen.Defendre@usdoj.gov. Ms. Defendre is the Victim Witness Specialist of the United States Attorney’s Office.  If you would prefer, you may send your VIS to LegendReceiver@Otterbourg.com and the Receiver will forward your VIS to the United States Attorney’s Office on your behalf. We understand that VIS submissions should be received by the United States Attorney’s Office not later than 2 weeks before the sentencing hearing(s).  
 

Please note that your VIS and name will be made public and disclosed to the Criminal Defendants.  Accordingly, if you decide to file a VIS please do not include sensitive personal information (such as social security numbers, account numbers, or private medical history) to avoid public disclosure. 
 

Whether or not you submit a VIS, the Judge may permit you to address the Court in person at the sentencing. If you seek to address the Court, please inform Ms. Defendre at Valeen.Defendre@usdoj.gov not later than 2 weeks before the sentencing hearing(s) and her office will advise Judge Broderick of your interest.

 

Please note that you are not required to submit a VIS or to appear at the sentencing. Doing so is voluntary.

 

Notice of May 2026 Distribution (Updated May 29, 2026)

On or about May 22, 2026, in accordance with the Plan of Distribution (the “Plan”), the Receiver made distributions (the “May 2026 Distribution”) to Investors with Allowed Interests in Class 3 of the Plan that (i) had earmarked their Legend investments to Voyager and (ii) submitted properly completed Forms W-9 or W-8 as applicable (“Tax Forms”) to the Receiver on or before May 15, 2026, the deadline announced on April 28, 2026 on the Receivership website. On May 29, 2026, the Receiver filed a “Report of May 2026 Distribution”, which can be accessed here.

 

The Receiver urges any remaining Investors that have not yet submitted a properly completed tax form to do so promptly, as failure to submit required tax documentation may delay or result in forfeiture of distributions to which they may otherwise be entitled.

 

Criminal Action: Update May 6, 2026

As previously reported, in January, 2026, Mario Gogliormella, Steven Lacaj and Karim Ibrahim (the “Criminal Defendants”) entered guilty pleas to conspiracy and investment advisor fraud charges in connection with their management of the Legend Venture entities.  The Receiver is not a party in the criminal case.  Sentencing for the Criminal Defendants had originally been scheduled for May 2026, but has now been rescheduled as follows: Mario Gogliormella: July 14, 2026 at 12:00 pm; Karim Ibrahim: July 16, 2026 at 11:00 am; Steven Lacaj: July 22, 2026 at 12:00 pm.

 

The sentencing proceedings are open to the public at Courtroom 518, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY.

 

Under the Crime Victims’ Rights Act, victims have the right to submit a victim impact statement (a “VIS”) setting forth the way(s) in which they believe they have been affected by the crimes for which a defendant has been convicted. If you believe this is applicable to you with respect to any of the Criminal Defendants, you may seek to submit a VIS. Whether or not you submit a VIS, the Judge may permit you to address the Court in person at the sentencing. The Receiver will provide further information regarding the VIS process and public appearances at sentencing once further information is available.

 

Please note that you are not required to submit a VIS or to appear at the sentencing. Doing so is voluntary.

 

Update on Voyager Technologies Distribution (Updated April 28, 2026)

Please take notice that in accordance with the Plan, on or about May 22, 2026, the Receiver intends to make a distribution (less reserves under the Plan) of the cash proceeds received on account of Legend’s interests in Voyager Technologies, Inc. to all applicable “Voyager investors” who have submitted a properly completed Form W-9 or Form W-8 (online form available here) on or before May 15, 2026. Investors who have not yet submitted a properly completed IRS Form W-9 or W-8, as applicable, are encouraged to do so promptly to avoid delays or loss.

 

Notice of April 2026 Catch-Up Distribution (Updated April 16, 2026)

On or about April 10, 2026, the Receiver made distributions (the “April 2026 Catch-Up Distribution”) to eligible Investors who had not previously received any distribution and who had submitted properly completed “Tax Forms” (IRS Forms W-9 or W-8, as applicable) after the Tax Form deadlines for prior distributions. The April 2026 Catch-Up Distribution was comprised of distributions relating to the following:

1.    Distribution of proceeds from the “Voyager Dividend” (see Receiver’s Report of Voyager Dividend Distribution dated December 12, 2025); and
2.    Distribution of “SpaceX Proceeds” (see defined Receiver’s Report of Sale of Certain Pre-IPO Shares dated November 17, 2025).

On April 14, 2026, the Receiver filed a Notice of April 2026 Catch-Up Distribution, which can be accessed here.
The Receiver urges any remaining Investors that have not yet submitted a properly completed tax form to do so promptly, as failure to submit required tax documentation may delay or result in forfeiture of distributions to which they may otherwise be entitled.

 

Update on Sales of Interests in Voyager Technologies, Inc. ("Voyager") - March 25, 2026

Please take note that in accordance with the Receiver’s Plan of Distribution [Dkt. 180-1], the Receiver is in the process of selling Legend’s shares of Voyager.  The Receiver will file and post a further report, along with any updates concerning distributions of such proceeds, as appropriate. 

 

Notice of Catch-Up Distribution (Updated March 11, 2026)
Please take notice that the Receiver intends to distribute additional funds from (i) the cash dividend received on account of Legend’s interests in Voyager Technologies, Inc. (“Voyager Dividend”) and (ii) SpaceX cash proceeds on or about April 10, 2026. This “catch-up” distribution will be made only to eligible investors who submitted properly completed “Tax Forms” (IRS Forms W-9 or W-8, as applicable) after the Tax Form deadlines for prior distributions and have not yet received distributions on account of the Voyager Dividend and/or SpaceX proceeds. 
 
The Receiver urges any remaining Investors who have not yet submitted a properly completed and signed Tax Form to do so promptly, as failure to submit required tax documentation may delay or result in forfeiture of distributions to which they may otherwise be entitled. Eligible investors will be included in the “catch-up” distributions only if they have delivered to the Receiver properly completed and signed Forms W-9 or W-8 by March 27, 2026.  Investors who have already submitted their Tax Forms in connection with the Legend Receivership (as opposed to the StraightPath Receivership) need not submit them again.
 
In addition to distributions from the Voyager Dividend, Voyager Investors may also be eligible for proceeds from Voyager shares in the future. The Receiver is currently completing the steps necessary to liquidate the Voyager shares and distribute the net cash proceeds to qualifying Voyager Silo Investors. 

 

Criminal Action Update January 30, 2026
On June 7, 2024, the United States District Court for the Southern District of New York (“Court”) unsealed a four-count indictment against three defendants allegedly associated with Legend, Mario Gogliormella, Steven Lacaj and Karim Ibrahim. See U.S.A. v. Gogliormella, et al., 24-cr-00362 (S.D.N.Y. 2024) (“Criminal Action”).  According to the Court docket in the Criminal Action, (i) on January 22, 2026, two of the defendants, Mario Gogliormella and Steven Lacaj, pleaded guilty to conspiracy and investment advisor fraud charges and (ii) on January 30, 2026, the third defendant, Karim Ibrahim, also pleaded guilty to conspiracy and investment advisor fraud charges. Sentencing has been set for May 8, 2026 for Mr. Gogliormella, and May 20, 2026 for Mr. Lacaj, but has not yet been set for Mr. Ibrahim. The Receiver will continue to provide updates as warranted.

January 30, 2026 – The Receiver’s Ninth Status Report, filed on January 30, 2026 may be found HERE, regarding the period July 1, 2025 through December 31, 2025.

 

Criminal Action Update January 26, 2026

On June 7, 2024, the United States District Court for the Southern District of New York (“Court”) unsealed a four-count indictment against three defendants allegedly associated with Legend, Mario Gogliormella, Steven Lacaj and Karim Ibrahim. See U.S.A. v. Gogliormella, et al., 24-cr-00362 (S.D.N.Y. 2024) (“Criminal Action”).  According to the Court docket in the Criminal Action, (i) on January 22, 2026, two of the defendants, Mario Gogliormella and Steven Lacaj, pleaded guilty to conspiracy and investment advisor fraud charges and (ii) the third defendant, Karim Ibrahim, is similarly expected to plead guilty at a hearing that is scheduled to take place on January 30, 2026.  Sentencing has been set for May 8, 2026 for Mr. Gogliormella and May 20, 2026 for Mr. Lacaj.  The Receiver will continue to provide updates as warranted.

 

Notice of SpaceX Distribution (Updated January 6, 2026)

On January 6, 2026, the Receiver filed a report (available HERE) entitled “REPORT OF SPACEX DISTRIBUTION DATED DECEMBER 29, 2025” summarizing her initial distribution of the net proceeds of the cash (less reserves) received from the sale of Legend’s interests in an SPV relating to Space Exploration Technologies, Corp. to all applicable “SpaceX investors” who submitted a properly completed Form W-9 or Form W-8 (online form available HERE) on or before December 8, 2025. For further details, please see the Receiver’s November 24, 2025 notice HERE. 

 

The Receiver intends to distribute the remaining funds to eligible SpaceX Investors upon receipt and processing of required IRS Forms W-9 and W-8, as applicable. Investors who have not yet submitted a properly completed IRS Form W-9 or W-8, as applicable, are encouraged to do so promptly to avoid delays or loss.

 

Triller – Update as of January 5, 2026
The Receiver is not currently able to monetize Legend’s interests in Triller.
Although Triller Group’s common stock began trading publicly on October 16, 2024, those interests were subject to a lock up which has not ended due to Triller’s failure to cure certain regulatory delinquencies, including a failure to timely file its 2024 Annual Report (Form 10-K) with the SEC. Thereafter, on December 30, 2025, Triller was delisted. As a result, any recovery by the Receivership for this asset remains uncertain.  

 

Notice of Voyager Dividend Distribution (Updated December 22, 2025) 

On December 22, 2025, the Receiver filed a report entitled “REPORT OF VOYAGER DIVIDEND DISTRIBUTION DATED DECEMBER 12, 2025” summarizing her initial distribution of the net proceeds of the Voyager dividend discussed below.  The Report can be accessed here.  The only Investors who were entitled to, and received, distribution of their pro rata shares of the net proceeds of the Voyager Dividend on December 12, 2025 are Investors with Allowed Interests in Class 3 of the Plan that (i) had earmarked their Legend investments to Voyager and (ii) submitted properly completed Forms W-9 or W-8 as applicable to the Receiver on or before November 21, 2025, the deadline set in the notice dated November 17, 2025 the Receiver sent to the Voyager Silo Investors.

 

The Receiver intends to distribute the remaining funds to eligible Voyager Silo Investors upon receipt and processing of required IRS Forms W-9 and W-8, as applicable. Investors who have not yet submitted a properly completed IRS Form W-9 or W-8, as applicable, are encouraged to do so promptly to avoid delays or loss.

 

Receiver’s motion regarding fees (Updated December 5, 2025)

The Receiver has filed a motion seeking Court authority to pay unpaid Court-approved fees and expenses for herself and the Professional Firms she retained by Court order.  The motion papers can be accessed here.

 

Notice of SpaceX Distribution (Updated December 3, 2025)
Please take notice that in accordance with the Plan, on or about December 29, 2025, the Receiver intends to make a distribution (less reserves) of the cash received from the sale of Legend’s interests in an SPV relating to Space Exploration Technologies, Corp. to all applicable “SpaceX investors” who submit a properly completed Form W-9 or Form W-8 (online form available here) on or before December 8, 2025. For further details, please see the Receiver’s November 24, 2025 notice here. 

 

Update on Voyager Dividend Distribution (Updated December 3, 2025)
Please take notice that the distribution previously scheduled for December 19, 2025, of the cash dividend received on account of Legend’s interests in Voyager Technologies, Inc. (less reserves) will now take place on or about December 12, 2025. Only those “Voyager investors” who have submitted a properly completed Form W-9 or Form W-8 on or before November 21, 2025 will receive a distribution. For further details, please see the Receiver’s November 17, 2025 notice here. 

Update on SpaceX - 11/17/2025
On November 17, 2025 the Receiver filed a report of Sale Of Certain Pre-IPO Shares which can be accessed here. As set forth in the Notice, on November 14, 2025, the Receiver completed a transaction redeeming all of Legend’s equity interests in Space Exploration Technologies, Corp. for a total of $12,190,230.00 (which equates to $195 per common share).  No fees or commissions were incurred by the Receivership Entities in connection with this transaction.
 

Notice of Voyager Dividend Distribution (Updated November 7, 2025)

Please take notice that in accordance with the Plan, on or about December 19, 2025, the Receiver intends to make a distribution (less reserves) of the cash dividend received on account of Legend’s interests in Voyager Technologies, Inc. to all applicable “Voyager investors” who have submitted a properly completed Form W-9 or Form W-8 (online form available here) on or before November 21, 2025.  For further details, please see the Receiver’s November 7, 2025 notice here.

 

Update on Claims Analysis Report (dated November 6, 2025)

Please take notice that on November 5, 2025, in accordance with the Court’s Order Granting Motion to Establish Procedures for Resolution of Interests and Claims and Setting Bar Dates for Claims, a copy of which may be found here, the Receiver filed her Claims Analysis Report, a copy of which may be found here.  The Claims Analysis Report provides the Receiver’s determination of each claim filed and explains the procedures and deadlines to dispute the Receiver’s determinations.  

 

August 29, 2025 – Plan of Distribution Updates
 
On August 29, 2025, the Court granted the Receiver’s motion (the “Plan Motion”) for approval of her proposed plan of distribution (the “Plan”).  A copy of the Memorandum and Order granting the Plan Motion may be found here. 
 
A copy of the Plan may be found here. A Summary of the Plan that explains the Proposed Plan provisions may be found here. See Docket No. 179, Docket No. 180, Docket No. 181, Docket No. 182
 

Please continue to monitor this page for updated information about the Plan, including concerning any distributions under the Plan.

Legend Venture Partners Receiver Announces Notice of Bar Date to Submit Claims

 

Investor Statements and W9 Forms

Investor statements have been mailed on July 25. Please note that you are still required to complete a W9 form, even if you have already submitted one for the StraightPath Receivership.

 

Compendium of Information

On July 2, 2025, the Receiver provided investors with certain financial data regarding Legend (the “Compendium”) comprised of the following Tables:

 

1. Pre-IPO Company Shares Acquired
2. Invested Amounts and Acquisition Costs of Pre-IPO Company Shares
3. QSF Tax Basis of Pre-IPO Company Shares

All 3 Tables are available here.

 

Please note that the footnotes to the Compendium are an integral part of the data presented and must be reviewed for a complete understanding of the information contained in the Compendium.

 

July 30, 2025 – The Receiver’s Eighth Quarterly Status Report, filed on July 30, 2025 may be found HERE, covering matters from April 1, 2025 through and including June 30, 2025.

 

Updated July 30, 2025 - What is the status of the Voyager Space IPO and what will happen to Legend’s shares?

On Tuesday, 6/10/2025, Voyager Technologies, Inc. (“Voyager”) launched its initial public offering, and shares began trading on the New York Stock Exchange the following day, 6/11/2025 (NYSE: VOYG).  Legend’s investments in Voyager were made through a special purpose vehicle (“SPV”).  The Receiver has been advised by that SPV that Legend’s interests are subject to a 180 day “lock up” following the initial public offering and that the SPV will not distribute shares to Legend until the 180-day “lock-up” has concluded.  In order for the Receiver to make any distribution or sale of the Voyager shares, the shares must be transferred from the SPV, and the Receivership Court must enter an order approving the Receiver’s proposed Plan of Distribution or otherwise authorizing such distribution or sale.  

 

In addition, on July 9, 2025, the Receivership received a cash dividend in the amount of $2,134,275.14 relating to the Receivership Entities’ interests in Voyager.  The Receiver is considering the tax implications of the Receivership’s receipt of this dividend.  Disposition of the dividend is subject to the court’s ruling on her Plan Motion or other order of the Court.  The dividend does not impact the number of Voyager shares the Receivership is entitled to receive upon the conclusion of the post-IPO lock-up period.

 

The Receiver will continue to monitor the status of Voyager and post any updates as appropriate.
 

What are the latest developments in the Receivership?

On May 28, 2025, the Receiver filed two motions with the Court.

First, the Receiver filed a motion (the “Plan Motion”) for approval of her proposed plan of distribution (the “Proposed Plan”).  A copy of the Proposed Plan may be found here. A Summary of the Proposed Plan that explains the Proposed Plan provisions may be found here. A copy of the Plan Motion may be found at Dkt Nos. 179-182 (see links below).

Docket No. 179, Docket No. 180, Docket No. 181, Docket No. 182

Second, the Receiver filed a motion to approve certain procedures (the "Procedures") to verify investor interests in Legend and creditor claims (the “Procedures Motion”). A copy of the Procedures Motion may be found at Dkt Nos. 175-178 (see links below).

Docket No. 175, Docket No. 176, Docket No. 177, Docket No. 178

 

The Court granted the Procedures Motion by order dated June 26, 2025 (the “Procedures Order”).  A copy of the Procedures Order may be found here.  In accordance with the Procedures, on July 2, 2025, the Receiver sent a Notice (the “Notice”) advising of entry of the Procedures Order and providing information about the Procedures.  A copy of the Notice may be found here.  A claim form, to be completed only by Claimants and not by Investors may be found here.  Claimants must file their claims by August 25, 2025 at 5:00 p.m., prevailing Eastern Time except for governmental Claimants, which must file their claims by September 24, 2025 at 5:00 p.m. prevailing Eastern Time.  Investors will be sent an Investor Statement by July 28, 2025, which will contain instructions regarding the Investor Statement dispute process.

 

NOTICE OF RECEIVER’S RECENT MOTIONS FOR APPROVAL OF CERTAIN PROCEDURES AND THE RECEIVER’S PLAN OF DISTRIBUTION

 

Receivership Background
On June 23, 2023, the Hon. Melanie L. Cyganowski (Ret.) (the “Receiver”), former Chief Bankruptcy Judge of the United States Bankruptcy Court for the Eastern District of New York, and Chair of the Restructuring and Bankruptcy Department of Otterbourg P.C., was appointed to serve as the Court-Appointed Receiver pursuant to an Order (the “Receivership Order”) of the Honorable Lewis A. Kaplan of the United States District Court for the Southern District of New York.

 

Pursuant to the Receivership Order, the Receiver was appointed as Receiver for the estate (the “Receivership Estate”) of Legend Venture Partners LLC (“Legend”); Legend Ventures Fund 1 LLC, Legend Ventures Fund 2 LLC, Legend Ventures Fund 3 LLC, Legend Ventures Fund 4 LLC, and Legend Ventures Fund 5 LLC (collectively, the “Legend Funds” and collectively with Legend, the “Receivership Entities”).

 

Under the terms of The Receivership Order, the Receiver, among other things, has the responsibility and duty (i) to use reasonable efforts to determine the nature, location, and value of all assets and property interests of the Receivership Entities; (ii) take custody, control, and possession of all property of the Receivership Entities; (iii) to sue for and collect, recover, receive, and take into possession from third parties all property of the Receivership Entities and records relevant thereto; (iv) to manage, control, operate, and maintain the Receivership Estate; (v) to engage and employ persons in the Receiver’s discretion to assist the Receiver in carrying out the Receiver’s duties and responsibilities; (vi) to pursue, resist and defend all suits, actions, claims and demands which may be pending or which may be brought by or asserted against the Receivership Estate; (vii) to make necessary or required filings in the counties, states, and/or jurisdictions in which the property of the Receivership Entities is located in order to secure these assets; and (viii) to propose a liquidation plan and distribution plan to the Court upon motion.

A copy of the complaint filed by the Securities and Exchange Commission on June 22, 2023 can be found here.

 

A copy of the Receivership Order filed on July 7, 2023 can be found here.

 

All parties are encouraged to search the site first, before attempting to contact the Receiver directly, which will keep costs down and limit the administrative burden to the estate. If direct contact is necessary, the Receiver can be contacted at legendreceivership@stout.com or by calling 720-930-4881 (Domestic) or 855-704-4075 (International).