Archive for June 2010

BULLETIN: Another Florida Ponzi Scheme: SEC Sues Estate Of Dead Man, Saying Kenneth Wayne McLeod And His Companies Ripped Off Members Of ‘Law Enforcement’ And Operated Ponzi Scheme For Decades

BULLETIN: Another Florida Ponzi Scheme: SEC Sues Estate Of Dead Man, Saying Kenneth Wayne McLeod And His Companies Ripped Off Members Of 'Law Enforcement' And Operated Ponzi Scheme For Decades

BULLETIN: The SEC has gone to court in Florida to obtain emergency relief against two companies and their late owner, alleging that Kenneth Wayne McLeod targeted government employees and members of law enforcement to invest in a government bond fund that did not exist. McLeod, 48, was found dead Tuesday in Jacksonville’s Mandarin Park. Local […]

SHADES OF AVG: Upstart AdPayDaily ‘Surf Scolds Members For Not Understanding The ‘Program’ After Pumping Bonuses For Weeks

SHADES OF AVG: Upstart AdPayDaily 'Surf Scolds Members For Not Understanding The 'Program' After Pumping Bonuses For Weeks

AdPayDaily (APD), an upstart surfing company whose membership includes participants in the alleged AdSurfDaily Ponzi scheme and the failed AdViewGlobal (AVG) autosurf, is lecturing members on proper behavior. AVG, which had close ties to ASD, became infamous for scolding members In an unsigned post on its free WordPress Blog, APD, which does not disclose its […]

Postal Inspectors, IRS Say Canadian Promoted ‘Series’ Of HYIP Frauds; Randi A. Bochinski Arrested In British Columbia, Faces U.S. Indictment

Postal Inspectors, IRS Say Canadian Promoted 'Series' Of HYIP Frauds; Randi A. Bochinski Arrested In British Columbia, Faces U.S. Indictment

Still promoting HYIP frauds on the Ponzi boards and elsewhere? A Canadian citizen was arrested in British Columbia June 3 and now has been indicted in the United States on charges of wire fraud, mail fraud and money-laundering, authorities said. Randi A. Bochinski, 46, of Kelowna, B.C., potentially faces decades in prison and huge fines […]

FOX 5 ATLANTA: Narc That Car President, Director Involved In Previous Pyramid Schemes; Separately, Math Expert Says License-Plate Location System ‘Like Finding A Needle In A Haystack’

FOX 5 ATLANTA: Narc That Car President, Director Involved In Previous Pyramid Schemes; Separately, Math Expert Says License-Plate Location System 'Like Finding A Needle In A Haystack'

The Fox 5 News “I-Team” in Atlanta has returned to the subjects of pyramid schemes and Narc That Car, also known as Crowd Sourcing International. (See video and link below.) During tonight’s principal newscast, veteran investigative reporter Dana Fowle reported that Narc President Jacques Johnson was a manager in YourTravelBiz (YTB), which was sued in […]

ASD-LIKE LITIGATION PLAYBOOK BACKFIRES: Washington State Man Indicted For Placing Fraudulent Liens Against Prosecutors, IRS Agent; Ronald James Davenport Faces Decades In Prison If Convicted

ASD-LIKE LITIGATION PLAYBOOK BACKFIRES: Washington State Man Indicted For Placing Fraudulent Liens Against Prosecutors, IRS Agent; Ronald James Davenport Faces Decades In Prison If Convicted

EDITOR’S NOTE: This is a post in which the introduction is longer than the actual story (below). The story demonstrates the dangers of jumping on bandwagons before giving them careful thought. Longtime readers of the PP Blog will recall our coverage of Curtis Richmond, “Professor” Patrick Moriarty and ASD Members International (ASDMI). Each was a […]

BULLETIN: Alberta Securities Commission Orders $2 Million Penalty Against ‘Lord’ David Greene And John Jenkins In Gold Quest International Ponzi Case

BULLETIN: Alberta Securities Commission Orders $2 Million Penalty Against 'Lord' David Greene And John Jenkins In Gold Quest International Ponzi Case

After determining in January that Gold Quest International (GQI) was a “sham” operating as both a Ponzi and a pyramid scheme, the Alberta Securities Commission (ASC) now has doled out the penalties. David Michael Greene, also known as “Lord” David Greene, and John Jenkins were ordered to pay an “administrative penalty” of $2 million, ASC […]

BULLETIN: Another Ponzi Scheme In South Florida; SEC Alleges $28 Million Fraud Against Trade-LLC

BULLETIN: Another Ponzi Scheme In South Florida; SEC Alleges $28 Million Fraud Against Trade-LLC

A Florida company — Trade-LLC — and its operators have been accused of running a $28 million Ponzi scheme that fleeced members of three investment clubs. Named defendants by the SEC were Trade-LLC and its managing members, Philip W. Milton and William Center. The scam operated in the Palm Beach Gardens area, and affected more […]

UPDATE: Renner Begins Sentence In Tax Case; INetGlobal Operator Housed In Minnesota

UPDATE: Renner Begins Sentence In Tax Case; INetGlobal Operator Housed In Minnesota

Steve Renner, the operator of the Minneapolis-based INetGlobal autosurf, is an inmate at the Federal Prison Camp (FPC) in Duluth, Minn., according to the Federal Bureau of Prisons (FBP). Renner, 55, was sentenced in May to 18 months for income-tax evasion. He was indicted in September 2008 and convicted in December 2009. The Duluth FPC […]

Prosecution, INetGlobal Strike Interim Agreement That Frees Money To Pay Employees, Insurance Under Court Supervision

Prosecution, INetGlobal Strike Interim Agreement That Frees Money To Pay Employees, Insurance Under Court Supervision

UPDATED 6:14 P.M. ET (U.S.A., JAN. 20, 2011.) Employees of an Internet company under federal investigation amid allegations it was operating a Ponzi scheme have received some good news: a sum of $125,000 has been released to pay their past-due salaries and $25,000 has been released to pay their past-due healthcare benefits. Meanwhile, $200,000 per […]

U.S., German, British, Canadian Provincial Regulators Cooperate In Probe Of Alleged ‘Oil And Gas’ Fraud Scheme Operating In Florida, Texas And Aruba; SEC Sues Justin Solomon And Affiliated Firms

U.S., German, British, Canadian Provincial Regulators Cooperate In Probe Of Alleged 'Oil And Gas' Fraud Scheme Operating In Florida, Texas And Aruba; SEC Sues Justin Solomon And Affiliated Firms

A Florida man selling “joint ventures” in oil-and-gas businesses in Texas to overseas clients through corporate arms in the United States and Aruba has been accused of fraud by the SEC. Named defendants in the case were Justin Solomon of Deerfield Beach, Fla., and three affiliated companies: Seisma Oil Research LLC of Boca Raton, Fla., […]

BULLETIN: KABOOM x 1,215! Feds Announce ‘Operation Stolen Dreams’ Mortgage-Fraud Sweep; 1,215 Defendants Charged In Largest Mortgage Scammer Takedown In U.S. History

BULLETIN: KABOOM x 1,215! Feds Announce 'Operation Stolen Dreams' Mortgage-Fraud Sweep; 1,215 Defendants Charged In Largest Mortgage Scammer Takedown In U.S. History

BULLETIN: UPDATED 1:10 P.M. EDT (U.S.A.) At least 1,215 criminal defendants have been named in “Operation Stolen Dreams,” which U.S. Attorney General Eric Holder described as a “three and a half month takedown of mortgage fraud schemes throughout the country.” The mortgage-fraud operation began March 1 and is the largest-such undertaking in U.S. history, Holder […]