Court approves NFID petition to place Prime Trust LLC in receivership pending order to show cause hearing

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.guedry60@gmail.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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