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Vemma boss asks FTC to unfreeze his assets

By
Michelle Celarier
Published Sep. 11, 2015, 10:37 p.m. ET

Vemma founder BK Boreyko, whose assets were frozen by the Federal Trade Commission when it temporarily halted the company last month on pyramid charges, has asked a federal court to release enough money to help him pay his ex-wife and six children.

Boreyko, 53, has been ordered to pay $21,000 a month in alimony and child support, and needs access to some of his frozen assets ahead of a Sept. 15 court hearing.

“The devastating effects of the draconian measures invoked by the FTC — without a stitch of prior notice or any attempt to address or resolve any alleged concerns — cannot be overstated,” Boreyko’s lawyers said in a court filing Thursday night.
They called the FTC’s action an “ambush.”

Talks with the FTC to release funds for “ordinary and necessary family expenses and obligations” were denied, the filing stated, necessitating quick court action.