UPDATE: JSS Tripler 2 And Associated Scams Get More Bizarre By The Day: After Purported Bout With Dengue Fever, ‘Dave’ Purportedly Gets Married; Cashouts Now Reportedly Delayed Due To Wedding And Script Glitch — As Members Encouraged To Carry Out Blog-Posting ‘Tasks’

This will be a familiar refrain to many readers of the PP Blog: In July 2010, the Blog reported that the Financial Industry Regulatory Authority (FINRA) had launched a public-awareness campaign about HYIP fraud. FINRA called the HYIP sphere a “bizarre substratum of the Internet.”

Just a month earlier — in June 2010 — the U.S. Department of Justice pointed to a threat assessment by the International Mass-Marketing Fraud Working Group (IMMFWG) that declared “[t]here are strong indications that the order of magnitude of global mass-marketing fraud losses is in the tens of billions of dollars per year.” (Emphasis added).

In publicizing the IMMFWG document, which noted that international scammers use threats and coercive tactics to sustain schemes and chill “uncooperative victims,” the Justice Department alleged that the Pathway to Prosperity (P2P) HYIP scheme had reached into at least 120 countries and gathered $70 million.

P2P was only one of hundreds or even thousands of HYIP scams operating on the Internet.

Flash forward to late 2011 and the birth of “Dave’s” JSS Triper 2, which apparently based its name on JSS Tripler, the “opportunity” purportedly operated by Frederick Mann. JSS Tripler 2 reportedly stopped making payments within weeks of launch, blaming an AlertPay account freeze. After that, “Dave” suggested that an unidentified law-enforcement agency that had failed to act in his interests was at least partly responsible for JSS Tripler 2’s problems.

Among other things, “Dave” has asserted he was conducting a “scan” of critics. Naturally, a “program” relaunch purportedly occurred, Ponzi-forum cheerleaders helped “Dave” advance the scheme (as they drove traffic to their other schemes) and JSS Tripler 2 changed its name to T2MoneyKlub and hatched a companion scheme known as Compound150.com — all while “Dave” reportedly was battling back from a bout with Dengue fever.

“Dave,” who preemptively denied JSS Tripler 2 was a Ponzi scheme, now appears to have duped members into performing “tasks” such as making comments on Blogs/websites to dupe prospective purchasers of the sites into believing they’re buying established sites with built-in readership. The theory — apparently — is that “Dave” can monetize the sites, sell them at a handsome profit and use the cash to fund his various investment programs, thus muting the Ponzi critics and taking concerns of illegality off the table.

Some of “Dave’s” members claim they’ve carried out the “tasks” — in effect, to “do what’s best for the ‘program.'” Whether they’re concerned that they’re helping “Dave” scam a new crop of suckers who’d end up with junk websites is unclear.

What is clear is that they want to get paid — and perhaps are willing to say anything while carrying out the “task” of posting comments on Blogs in purported bids to make them more attractive to purchasers.

One bizarre and homophobic “comment” on a purported “Dave” Blog (CarryMyBaby.com) reads as such:

“[W]ell obviuosly [sic] the more sex you have the greater the chances of becoming pregnant unles [sic] you r [sic] one of those queer couples. then no matter what you two do together neither party wll [sic] get pregnant,,,capisce [sic]?”

Meanwhile, a bizarre comment on a purported “Dave” Blog (IBeatForeclosure.com) reads as such:

“its [sic] got be [sic] tough to have to decide if you have to foreclose on your house but the this [sic] mortagage [sic] crisis happened [sic] people had not [sic] choice not [sic] and [sic] easy thing to go through.”

The Blogs appear to be hosted in Utah. Ownership is unclear.

But even with the “tasks,” JSS Tripler 2 payments reportedly have been suspended again, owing to “Dave’s” wedding, the need to accommodate international travelers and a purported script glitch that caused some members to get paid twice.

Some members — including members who previously sold JSS Tripler as a “passive” investment opportunity — now claim that members unwilling to assist Dave in posting fake comments are “lazy.”

On the MoneyMakerGroup Ponzi forum, a “Dave” cheerleader posted a list of 26 websites for JSS Tripler 2 members to visit to post comments.

So, the JSS Tripler 2 “program” includes these elements:

  • An HYIP scheme that purportedly provided an annualized return of 730 percent and started out by naming itself after an existing scheme that also purported to pay 730 percent a year. (Think FINRA and its memorable “bizarre substratum of the Internet” line in July 2010.)
  • A preemptive denial that a Ponzi scheme was under way — even as well-known Ponzi forum cheerleaders helped the scheme gain a head of steam. (As part of FINRA’s July 2010 educational campaign on the dangers of HYIP fraud,  it issued a public warning about social-networking fraud.)
  • A purported payment-processor freeze that left members in the lurch for weeks.
  • Incongruous suggestions that “law enforcement” had failed to act in the best interests of the “program.”
  • Attempts to chill/ostracize members. (The sort of coercive tactics referenced in the June 2010 IMMFWG document publicized by the U.S. Department of Justice.)
  • Cheerleading by willfully blind participants. (Think Matt Gagnon and the Legisi HYIP Ponzi scheme.)
  • A name change. (Also an element in the AdSurfDaily Ponzi case.)
  • The launch of companion “programs.” (Another element in the ASD Ponzi case.)
  • A purported bout with Dengue fever. (Purported illnesses and violent windstorms are longtime HYIP clichés.)
  • Payment delays blamed on a wedding. (Imagine a legitimate broker/financial adviser telling you that you’d have to wait for the branch manager to return from her honeymoon in Southeast Asia  before you could withdraw the sum you need to buy groceries or cough medicine for your children or pay a tuition bill.)
  • Payment delays blamed on script problems and/or double payments to members. (See this story from our ASD files.)
  • A purported duty to post comments on Blogs to drive up their sale value, so the money can be used to fund investment “opportunities.”

 

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10 Responses to “UPDATE: JSS Tripler 2 And Associated Scams Get More Bizarre By The Day: After Purported Bout With Dengue Fever, ‘Dave’ Purportedly Gets Married; Cashouts Now Reportedly Delayed Due To Wedding And Script Glitch — As Members Encouraged To Carry Out Blog-Posting ‘Tasks’”

  1. Just an observation regarding this program. I have noticed that all the posts of “I got paid” and the amounts being paid to them from the major pimps of this programs far exceed the amount of money that they are putting back in the program in DP’s (Dream Positions), and even in the Compound150 program. Yet none of the “faithful” have bothered to notice this trend. Should say something about this Ponzi and how much longer it will run before going bust.

    Of course by Dave closing off the program and making it private, I guess he believes he can hide all the problems from the public since he says he is not taking on new members. It is going to be interesting to see how much longer this goes before it blows up, and blow up it will.

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  2. I wonder if he meant the Dengue fever that is a virus-caused disease spread by mosquitoes

    -or-

    Dengue Fever, a six-member band from Los Angeles who combine Cambodian pop music and lyrics with psychedelic rock.

    Sounds a bit far fetched to me…

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  3. I would be surprised if the Ken Russo type pimps actually put in any of their own money in programs, IIRC Matt was paid a straight up percentage for just bringing his downline to LEGISI. Ken posts his payments that indicate he would have tens of thousands of dollars to earn that much, which would shock me if he did. More likely he’s just getting a cut for the sucker list he brings.

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  4. Gregg, Ken did mention that he had 24 big ones in this when Dave was having issues when this tried to launch and there were no payments. By the way he said it, he sounded worried and made me believe he was dumb enough to actually invest $24K. I believe the comments were on TG about all of this. It’s also why he has been pulling money out as fast as he can so he doesn’t get caught with a wad in it when it goes south.

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  5. Well, Dave just gave an update and after a long winded dissertation of all the things that will have to be “changed” in the program, he could have summed it all up with 5 words: Out of Money to pay. This from the guy who was claiming he “knew” how to run a program that was not a Ponzi, was the smartest guy in the world, had all the answers on how to run a program with no glitches like JBP exprienced, and on and on, and the only luck he has had is bad luck. But what is even more incredible that after all of his pontificating how T2 was not going to be a Ponzi, it is a Ponzi. Outside revenue does not come close to covering all of his ongoing payment costs. But he keeps claiming that he soon will not be a Ponzi. Kind of like being a little bit pregnant Dave. Impossible. You are a Ponzi, and soon will be gone.

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  6. Hi Lynn,

    I’m aware of the “update,” but haven’t had a chance to get to it yet.

    You’re aware, of course, of the purported “hacking” episode that purportedly means “Dave’s” AlertPay account is out of commission.

    And I’m also sure you’re aware that there is a purported AlertPay holdback of $60,000.

    Patrick

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  7. This guy is changing his story faster than Kama Sutra Practitioners change positions! The fact still is that when these crash he will still have a bunch of website to sell and can come back as “Dan Swift” from Bumphuque Egypt with a wonderful “investment” opportunity.

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  8. If Ken Russo put $24K of his own money in a scheme he was pimping, he’s dumber than I thought. Talk about smoking your own dope. You’d thik the guy would have learned after DRFund.

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  9. Gregg: If Ken Russo put $24K of his own money in a scheme he was pimping, he’s dumber than I thought.Talk about smoking your own dope.You’d thik the guy would have learned after DRFund.

    The only reference I’ve seen to Russo dumping that much “jack” int T2 was from Faith Sloan….but with a double handful of salt….!

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  10. I believe Russo only put around 10K(or less) of his own money in JssTripler2 before the first restart. He was doing a mix of withdraw and compound through which he reached the maximum number of ‘Dream Positions’ allowed, 2400, before the program first went down back in January. 2400 ‘Dream Positions’ would be the equivalent of $24K, hence the common assumption that he put in $24k of his own money.

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