Archive for March 28th, 2011

URGENT >> BULLETIN >> MOVING: Andy Bowdoin, AdSurfDaily Lose Appeal Of $65.8 Million Forfeiture Order; Panel Unanimously Upholds District Judge

URGENT >> BULLETIN >> MOVING: Andy Bowdoin, AdSurfDaily Lose Appeal Of $65.8 Million Forfeiture Order; Panel Unanimously Upholds District Judge

BULLETIN: Andy Bowdoin and AdSurfDaily Inc. have lost their appeal of a January 2010 order by U.S. District Judge Rosemary Collyer that $65.8 million be forfeited to the government in the August 2008 civil Ponzi scheme case against Bowdoin’s assets. The U.S. Appeals Court for the District of Columbia unanimously upheld Collyer, rejecting Bowdoin’s claims […]

BULLETIN: SEC Alleges ‘Payday Loan’ Ponzi Scheme In Utah; Second Major Ponzi Case Brought In State In Two Days; Schemes Attracted Almost $75 Million

BULLETIN: SEC Alleges 'Payday Loan' Ponzi Scheme In Utah; Second Major Ponzi Case Brought In State In Two Days; Schemes Attracted Almost $75 Million

BULLETIN: The SEC has gone to federal court in Utah to halt what it described as a $47 million “payday loan” Ponzi scheme and offering fraud in which investors were lured by the prospect of “extraordinary returns” while the alleged operator diverted large sums of cash to himself and other business interests. The payday-loan Ponzi […]