Eighth Judicial District Court Appoints Receiver for Elemental Financial Technologies and Subsidiaries
Summary
The Nevada Financial Institutions Division secured a court order appointing John Guedry as permanent receiver for Elemental Financial Technologies, Inc. (formerly Fortress Blockchain Technologies) and its subsidiaries including Fortress Trust, LLC. The receiver now has full authority over all company assets including financial accounts, digital assets, customer records, software systems, and intellectual property. All officers, employees, agents, and affiliates are prohibited from transferring or disposing of assets without receiver approval, and creditors and investors are barred from interfering with the receivership. The receiver must file an inventory of company assets within 45 days.
This receivership action by the Nevada Financial Institutions Division represents a significant enforcement intervention in the fintech/digital asset sector. The appointment of a permanent receiver with full asset control authority, rather than a provisional or interim receiver, signals the court's acceptance of the Division's concerns about the company's financial condition or regulatory compliance. Companies operating in similar spaces—particularly cryptocurrency exchanges, digital asset custodians, or fintech firms holding customer assets—should review their regulatory compliance posture and ensure adequate asset segregation and record-keeping practices. The broad scope of assets subject to the receivership, including digital assets and software systems, underscores the evolving regulatory attention to digital asset custody operations.
What changed
The Eighth Judicial District Court in Clark County granted the Nevada Financial Institutions Division's petition to appoint a permanent receiver for Elemental Financial Technologies, Inc. and its subsidiaries. The court order places all company assets under the control of receiver John Guedry, including financial accounts, digital assets, customer records, software systems, intellectual property, and related business property. The order prohibits all company officers, employees, agents, and affiliates from transferring or disposing of assets or conducting business without direction from the receiver. Creditors, investors, and other parties are barred from filing liens, initiating litigation, or attempting to seize company property without court approval.
Affected parties including customers, creditors, and investors should immediately contact receiver John Guedry for guidance on how this action impacts their interests. The 45-day deadline for the receiver to file a court inventory establishes the initial timeline for asset assessment. Government agencies retain authority to continue regulatory or enforcement actions independent of the receivership.
What to do next
- Contact receiver John Guedry at john.guedry60@gmail.com for information on how this action may impact your business
Archived snapshot
Apr 20, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Nevada Financial Institutions Division Secures Court-Appointed Receiver for Elemental Financial Technologies, Inc., Formerly Fortress Blockchain Technologies, and Subsidiaries
November 24, 2025 Las Vegas, NV — The Nevada Financial Institutions Division (FID) announced today that the Eighth Judicial District Court in Clark County has granted the Division’s petition to appoint a receiver for Elemental Financial Technologies, Inc., formerly known as Fortress Blockchain Technologies, and its subsidiaries, including Fortress Trust, LLC.
The Court has appointed John Guedry as the permanent receiver, granting him full authority to take control of and manage the companies’ assets and operations under court supervision.
The appointment of a receiver places all of the company’s assets—such as financial accounts, digital assets, customer records, software systems, intellectual property, and related business property—under the control of the receiver and the oversight of the court. This step ensures the preservation, oversight, and responsible management of the company’s operations while protecting customers, creditors, and other stakeholders.
“We pursued this action to safeguard the interests of consumers and the integrity of Nevada’s financial system,” said Sandy O’Laughlin, Commissioner of the Financial Institutions Division. “The court’s order enables independent oversight of the company and ensures its assets are protected while the receivership process moves forward.”
Under the court’s order:
- All officers, employees, agents, and affiliates of Elemental Financial Technologies and its subsidiaries are prohibited from transferring or disposing of assets or conducting business unless directed by the receiver.
- Creditors, investors, and other parties are barred from taking actions that would interfere with the receivership, including filing liens, initiating litigation, or attempting to seize company property without court approval.
- The receiver is authorized to take control of all company property, evaluate operations, secure records, collect payments owed to the company, and take action necessary to preserve or recover assets. Within 45 days, the receiver must file an inventory of the company’s assets with the court, with additional reports to follow.
The order does not prevent government agencies from continuing any lawful regulatory or enforcement actions.
The FID will continue to monitor the receivership process to ensure compliance with Nevada law and to support the protection of affected customers. Customers 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.
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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Elemental Financial Technologies Recievership
Elemental Financial Technologies, Inc. Order Granting Petition
Elemental Financial Technologies, Inc. Order Granting Petition.pdf 11/24/2025 •.pdf
Elemental Financial Technologies, Inc. Petition and Exhibits
Elemental Financial Technologies, Inc. Petition and Exhibits FILED.pdf 11/24/2025 •.pdf Scroll to Top
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