Archive for July 2012

EDITORIAL: Is AlertPay (Payza) FINALLY Doing The Right Thing? Scam-Friendly Payment Processor That Is Darling Of Global Wink-Nod Fraudsters And Ponzi Forums Says It Is Banning Programs That Offer A Return — But Questions Remain

EDITORIAL: Is AlertPay (Payza) FINALLY Doing The Right Thing? Scam-Friendly Payment Processor That Is Darling Of Global Wink-Nod Fraudsters And Ponzi Forums Says It Is Banning Programs That Offer A Return -- But Questions Remain

EDITOR’S NOTE: Payza seems to have taken an important step Friday in the battle against online fraud. The payment-processing company perhaps deserves an accolade for that. But it’s too soon to heap praise on Payza. We are particularly concerned about the phrasing of a specific line in Payza’s altered User Agreement. More on that below […]

Zeek Promoters Send Email To AdSurfDaily Members, Asking Them To Wire Money To Confessed Ponzi Schemer Andy Bowdoin’s Jailhouse Account In The District Of Columbia; Zeekers ‘Owe This Man A Great Deal Of Gratitude And More’ For Opening ‘Path To Success,’ Email Claims

Zeek Promoters Send Email To AdSurfDaily Members, Asking Them To Wire Money To Confessed Ponzi Schemer Andy Bowdoin's Jailhouse Account In The District Of Columbia; Zeekers 'Owe This Man A Great Deal Of Gratitude And More' For Opening 'Path To Success,' Email Claims

UPDATED 8:42 A.M. EDT (JULY 14, U.S.A.) It’s beginning to look as though the Zeek Rewards’ MLM “program” has within it a large downline consisting of members of the AdSurfDaily Ponzi scheme. And in what may go down as one of the most spectacular PR blunders in the history of multilevel marketing, some former ASD […]

KABOOM! Alleged HYIP Operator Indicted On 49 Ponzi-Related Charges By Federal Grand Jury In Ohio After IRS Probe; ‘Program’ Was Pushed On MoneyMakerGroup And TalkGold; Wire Fraud And Money-Laundering Alleged Against Terrance Osberger Of Eagle Trades LTD

KABOOM! Alleged HYIP Operator Indicted On 49 Ponzi-Related Charges By Federal Grand Jury In Ohio After IRS Probe; 'Program' Was Pushed On MoneyMakerGroup And TalkGold; Wire Fraud And Money-Laundering Alleged Against Terrance Osberger Of Eagle Trades LTD

BULLETIN: The operator of an alleged HYIP fraud known as Eagle Trades LTD has been indicted on 49 Ponzi-related charges of wire fraud and money-laundering after a probe by the IRS, federal prosecutors in the Northern District of Ohio said. Terrance Osberger, 48, of Genoa, Ohio, has been charged with one count of wire fraud […]

MORE SENIOR FRAUD: ‘Insider Lending’ Scam: Illinois Man, 82, Pleads Guilty To Duping Bank He Once Led; Bank Later Failed

MORE SENIOR FRAUD: 'Insider Lending' Scam: Illinois Man, 82, Pleads Guilty To Duping Bank He Once Led; Bank Later Failed

In what federal prosecutors described as an “insider lending” scam, the 82-year-old former chairman of a bank that failed in 2011 has pleaded guilty to duping the bank and regulators by concealing his interests in loans made by the bank to his secret business associates. James A. Regas, of Oak Brook, caused employees of Western […]

DEVELOPING STORY: CFTC Seeks Asset Freeze Amid Allegations Of Fraud Against Russell R. Wasendorf Sr. Of Peregrine Financial Group Inc.; Wasendorf Reportedly Attempted To Kill Himself Yesterday; Trevor Cook Ponzi Victims At Risk Of Getting Fleeced Twice

DEVELOPING STORY: CFTC Seeks Asset Freeze Amid Allegations Of Fraud Against Russell R. Wasendorf Sr. Of Peregrine Financial Group Inc.; Wasendorf Reportedly Attempted To Kill Himself Yesterday; Trevor Cook Ponzi Victims At Risk Of Getting Fleeced Twice

EDITOR’S NOTE: The PP Blog first became aware of reports about the suicide bid of Russell R. Wasendorf Sr. last night, after being contacted by a reader who was defrauded in the Trevor Cook Ponzi scheme. Wasendorf apparently sought to take his own life on the sparkling Cedar Falls, Iowa, property of Peregrine Financial Group […]

UPDATE: (1) Article In Portuguese By Zeek Affiliate On Google News Says Program Has 100,000 Members In Brazil Alone; (2) American Pitchman Calls Zeek An ‘Investment’ On YouTube — And Then Takes It Back

UPDATE: (1) Article In Portuguese By Zeek Affiliate On Google News Says Program Has 100,000 Members In Brazil Alone; (2) American Pitchman Calls Zeek An 'Investment' On YouTube -- And Then Takes It Back

UPDATED 1:59 P.M. EDT (U.S.A.) An article on Google News by an apparent Portuguese-speaking affiliate of the U.S.-based Zeek Rewards MLM “program” that is married to a penny-auction site known as Zeekler claims that Zeek has more than 100,000 members in Brazil alone. Meanwhile, a promo by an American affiliate dated July 7 on YouTube […]

REPORTS: Accused Montana Ponzi Schemer Richard F. Reynolds Has Been Arrested In Kansas

REPORTS: Accused Montana Ponzi Schemer Richard F. Reynolds Has Been Arrested In Kansas

Richard F. Reynolds, the accused Montana Ponzi schemer, has been arrested in Kansas, ABCMontana is reporting via the Associated Press. The AP report cites a report that first appeared in the Bozeman Daily Chronicle. Reynolds also is known as Richard F. Adkins. In March, the office of Montana Commissioner of Securities Monica J. Lindeen said […]

UPDATE: 2 Purported ‘Sovereigns’ Jailed In Florida On Fugitive Warrant From Alabama

UPDATE: 2 Purported 'Sovereigns' Jailed In Florida On Fugitive Warrant From Alabama

Purported “sovereign citizens” Travis Lee Lambert and Janet Tharpe Hancock are listed as prisoners at the St. Lucie County Jail in Fort Pierce, Fla. Lambert, 62, and Hancock, 61, were booked at the jail July 2, according to the St. Lucie County Sheriff’s Office. They are being held on fugitive warrants from Alabama. Lambert was […]

ZEEK SLAYER? Now, A Penny-Auction Site Married To MLM-Like Scheme Purportedly Tied To Effort To Save Children From Hunger Or Becoming ‘Sex Slave[s]’; Build Up To ‘Founding Member’ Sales Pitch Drops Names Of White House, Chelsea Clinton, Historian And Presidential Adviser Doug Wead, Unidentified Presidential Candidate And NBC News Anchor Lester Holt

ZEEK SLAYER? Now, A Penny-Auction Site Married To MLM-Like Scheme Purportedly Tied To Effort To Save Children From Hunger Or Becoming 'Sex Slave[s]'; Build Up To 'Founding Member' Sales Pitch Drops Names Of White House, Chelsea Clinton, Historian And Presidential Adviser Doug Wead, Unidentified Presidential Candidate And NBC News Anchor Lester Holt

EDITOR’S NOTE: It is true that far too many of the world’s children live in poverty. It also is true that children may become the objects of criminals who engage in human trafficking and that children are exploited in the sex trades. It is equally true that legitimate charities exist to combat these horrific situations […]

RECOMMENDED READING: The Age Of Evolving MLM Radicalism: BehindMLM Reports On Lawsuit Threats And Security Taunts Directed At Blogger Who Took Issue With How American MLM Brand ‘Xocai’ Chocolate Was Being Marketed In Norway

RECOMMENDED READING: The Age Of Evolving MLM Radicalism: BehindMLM Reports On Lawsuit Threats And Security Taunts Directed At Blogger Who Took Issue With How American MLM Brand 'Xocai' Chocolate Was Being Marketed In Norway

From the Stepfordian cheerleading for the Zeek Rewards MLM “program” (and its purported nonguaranteed, nonreturn return of between 1 percent and 2 percent a day) to the mind-bending and long-running circus surrounding AdSurfDaily (1 percent a day with an operator who was a recidivist securities huckster and now has pleaded guilty in the ASD MLM […]

BULLETIN: Missing Investment Adviser Named In SEC Civil Complaint Yesterday In Atlanta Has Been Charged Criminally In New York

BULLETIN: Missing Investment Adviser Named In SEC Civil Complaint Yesterday In Atlanta Has Been Charged Criminally In New York

BULLETIN: Aubrey Lee Price, the missing Georgia man sued by the SEC in an alleged $40 million investment-fraud caper that depleted “substantially all” of the reserves of a bank in Southern Georgia, has been charged criminally in New York with embezzling $17 million from the bank. The office of U.S. Attorney Loretta E. Lynch of […]