Archive for February 26th, 2010

BBB ‘Remains Concerned,’ Still Has Questions About Narc That Car After Firm Says Only 1 Percent Of Commissions Stems From Sale Of Data To Third Parties

BBB 'Remains Concerned,' Still Has Questions About Narc That Car After Firm Says Only 1 Percent Of Commissions Stems From Sale Of Data To Third Parties

Narc That Car has told the Dallas Better Business Bureau that only “1% of total commissions paid out to independent consultants are for the sale of license plate information to third parties,” the BBB said today. That 1 percent, which Narc That Car referred to as “client share,” is the “only repeatable form of compensation […]

BULLETIN: CFTC Shuts Down Alleged Ponzi Scheme That Pitched Itself On YouTube; Ronald W. Smith Jr. Charged With Operating Forex Fraud; Judge Orders Video To Be Preserved

BULLETIN: CFTC Shuts Down Alleged Ponzi Scheme That Pitched Itself On YouTube; Ronald W. Smith Jr. Charged With Operating Forex Fraud; Judge Orders Video To Be Preserved

In a case that may spread a chill among fraudsters who use YouTube to promote bogus money-making schemes, the Commodity Futures Trading Commission (CFTC) has charged a Virginia man with fraud. Ronald W. Smith Jr. of Vansant used a YouTube video to promote a Forex Ponzi scheme that gathered more than $800,000 from 34 investors, […]

SECRET SERVICE: INetGlobal Forced Members To Keep Money In The Company With ‘Automatic Repurchasing’ Scheme; Undercover Agent Sent Email To Support, Which Verified Repurchase Was Mandatory

SECRET SERVICE: INetGlobal Forced Members To Keep Money In The Company With 'Automatic Repurchasing' Scheme; Undercover Agent Sent Email To Support, Which Verified Repurchase Was Mandatory

UPDATED 11:07 A.M. ET (U.S.A.) One of the undercover Secret Service agents who joined INetGlobal discovered that the company had implemented an “automatic repurchasing” program by default and that the program could not be switched off, thus distancing participants — many of whom may not have understood English — from their money. Although it is […]