Archive for November 2012

Website Of MPB Today, Bizarre ‘Grocery’ MLM, Inaccessible

Website Of MPB Today, Bizarre 'Grocery' MLM, Inaccessible

DEVELOPING STORY: The website of MPBToday — a Ponzi forum darling featuring a 2X2 matrix cycler in 2010 — has been inaccessible for at least 24 hours. Fabled Ponzi huckster “Ken Russo” — later of Zeek Rewards — was among MPBToday’s promoters. Although the MPBToday site returns this message — “Site temporarily unavailable. Connection timed […]

BULLETIN: Receiver Re-Serves Zeek Member Who Sought To Quash Subpoena

BULLETIN: Receiver Re-Serves Zeek Member Who Sought To Quash Subpoena

BULLETIN: An apparent Florida member of the Zeek Rewards “program” who claimed last week that the court-appointed receiver situated in North Carolina had served a subpoena improperly from the Tar Heel state via U.S. Mail now has been served again — this time through a more expensive process that involved certified U.S. Mail, FedEx and […]

UPDATE: Sentencing For Legisi HYIP Ponzi Swindler Gregory McKnight Rescheduled For Feb. 5

UPDATE: Sentencing For Legisi HYIP Ponzi Swindler Gregory McKnight Rescheduled For Feb. 5

Sentencing for a Michigan man federal prosecutors accused of “semantic obfuscation” for the manner in which his “program” was promoted has been rescheduled for Feb. 5, according to the docket of U.S. District Judge Mark A. Goldsmith of the Eastern District of Michigan. The sentencing delay for Gregory N. McKnight, who conducted the Legisi HYIP […]

Firm Assisting In Zeek Receivership Probe Has Another High-Profile Case; New York Times Reports That Kroll Investigative Firm Discovered ‘Well-Concealed Ponzi Scheme’ At Kabul Bank And ’114 Rubber Stamps For Fake Companies’

Firm Assisting In Zeek Receivership Probe Has Another High-Profile Case; New York Times Reports That Kroll Investigative Firm Discovered 'Well-Concealed Ponzi Scheme' At Kabul Bank And '114 Rubber Stamps For Fake Companies'

A company retained by the court-appointed receiver in the Zeek Rewards Ponzi scheme case received a prominent mention in the New York Times yesterday. The company, the Kroll investigative firm, uncovered a massive Ponzi fraud at Kabul Bank in Afghanistan in which hundreds of millions of dollars were siphoned from depositors to benefit a “narrow […]

THANKSGIVING BLOTTER: Police Tell San Gabriel Valley Tribune That Apparent ‘Sovereign’ Escaped Holding Cell Through 9-In. Crack And Stole ‘Beanie’ From Dollar Store To Conceal His Hairdo; Arthur Guerrero Back In Custody On $1.035 Million Bail

THANKSGIVING BLOTTER: Police Tell San Gabriel Valley Tribune That Apparent 'Sovereign' Escaped Holding Cell Through 9-In. Crack And Stole 'Beanie' From Dollar Store To Conceal His Hairdo; Arthur Guerrero Back In Custody On $1.035 Million Bail

An apparent California “sovereign citizen” arrested on Nov. 6 escaped through a 9-inch crack in a holding cell at the Glendora Police Department and, while making off, stole a “beanie” from a dollar store to disguise his appearance by concealing his overflow hairdo, authorities told the San Gabriel Valley Tribune. Here’s now the paper put […]

Nathaniel Woods Plants Seed That Zeek Receiver Issued ‘Bogus Subpoena’ And Committed Felony; Claims Reminiscent Of Assertions Made In AdSurfDaily Ponzi Case

Nathaniel Woods Plants Seed That Zeek Receiver Issued 'Bogus Subpoena' And Committed Felony; Claims Reminiscent Of Assertions Made In AdSurfDaily Ponzi Case

UPDATED 5 P.M. ET (U.S.A.) Various members of the Florida-based AdSurfDaily 1-percent-a-day Ponzi scheme advanced various theories that judges, prosecutors and investigators committed various felonies during the course of the probe and follow-up actions in court. The claims were absurd on their face and, when the arguments were rejected, they were replaced by conspiracy theories. […]

BULLETIN: SEC: Purported ‘Trust’ Was $15 Million Prime-Bank Ponzi Swindle Operated By Two 70-Year-Olds; 1 Of The Accused Hucksters Has Prior Conviction For Trafficking Cocaine; Investors Were Told ‘Department Of Homeland Security’ Was A Customer And That The Devil Was Behind The Adage, ‘If It Sounds Too Good To Be True . . .”

BULLETIN: SEC: Purported 'Trust' Was $15 Million Prime-Bank Ponzi Swindle Operated By Two 70-Year-Olds; 1 Of The Accused Hucksters Has Prior Conviction For Trafficking Cocaine; Investors Were Told 'Department Of Homeland Security' Was A Customer And That The Devil Was Behind The Adage, 'If It Sounds Too Good To Be True . . .

EDITOR’S NOTE: They don’t come any weirder than prime-bank swindles — and this one is one of the strangest we’ve ever reported on.  UPDATED 8:19 A.M. ET (NOV. 20, U.S.A.) Two individuals — both now 70 — conducted a prime-bank Ponzi swindle known as “the Trust” since at least 2004, the SEC said late this […]

SPECIAL REPORT: AdSurfDaily/Zeek Pitchman Todd Disner Gave Thousands To Gingrich, Romney After Soliciting Money To Sue The United States; Records Show Tax Liens Of More Than $405,000 Dating Back To 1999

SPECIAL REPORT: AdSurfDaily/Zeek Pitchman Todd Disner Gave Thousands To Gingrich, Romney After Soliciting Money To Sue The United States; Records Show Tax Liens Of More Than $405,000 Dating Back To 1999

EDITOR’S NOTE: ASD was a multilevel-marketing scheme that planted the seed it paid a return of 1 percent a day on top of two-tiered affiliate commissions totaling 15 percent for recruiters. Federal prosecutors described the purported “opportunity” as a Ponzi scheme based in the the small town of Quincy, Fla., and operated by recidivist securities […]

FLORIDA: 4 Purported ‘Sovereign Citizens’ Arrested On Forgery Charges In Alleged Counterfeit Check Scheme

FLORIDA: 4 Purported 'Sovereign Citizens' Arrested On Forgery Charges In Alleged Counterfeit Check Scheme

Four purported “sovereign citizens” — three with Florida addresses and one with a North Carolina address — were arrested yesterday after investigators received reports of counterfeit checks being passed at local businesses, the Osceola County Sheriff’s Office said. A search of a room at the Red Roof Inn on Kyngs Heath Road in Kissimmee led […]

VIDEO LINK: In Panel Discussion, MLM Aficionado Len Clements Describes Zeek As Pyramid Scheme And SEC Action As ‘Righteous Kill’; Attorneys Comment On Where Receivership May Be Going

MLM attorney Kevin Thompson hosted the panel yesterday. (See video below.) Panelists included attorney Jordan D. Maglich, attorney Phillip G. Young Jr., attorney (and Thompson partner) Walt Burton, Troy Dooly of MLMHelpDesk and Len Clements of Market Wave. Maglich, Young and Burton offered some helpful commentary on where the Zeek receivership may be going. Clements […]

STUNNING: Nearly 1 BILLION Zeek Transactions Over 18 Months, Receiver Says; ‘Sheer Quantity Of Data’ And ‘Inadequate And Incomplete’ Records Necessitate Delay In Filing Of Liquidation Plan

STUNNING: Nearly 1 BILLION Zeek Transactions Over 18 Months, Receiver Says; 'Sheer Quantity Of Data' And 'Inadequate And Incomplete' Records Necessitate Delay In Filing Of Liquidation Plan

EDITOR’S NOTE: It’s this simple: Ponzi = Pain — and even “ordinary” Ponzi schemes often result in extraordinary paper chases. The Zeek case may be setting a new standard for the extraordinary.   The receiver in the Zeek Rewards Ponzi scheme case informed a federal judge today that “the Receivership Team is still in the process […]