The Incredible Reach Of Zeek: Receiver Files In Guam

This filing in Guam by the court-appointed receiver in the Zeek Rewards Ponzi scheme case may be the first in a U.S. territory.

In yet another indicator of the incredible reach of the alleged Zeek Rewards Ponzi scheme, the court-appointed receiver has filed court paperwork in Guam.

Guam is a U.S. island territory “approximately 3,300 miles West of Hawaii, and 1,500 miles east of the Philippines and south of Japan,” according to the website of Naval Base Guam.

Whether U.S. military members in Guam bought into Zeek is unclear. Zeek was based in North Carolina, home state to four military installations.

In August, the SEC said Zeek “raised money from more than one million Internet customers nationwide and overseas.” In July, the PP Blog reported that an article on Google News by an apparent Portuguese-speaking affiliate of Zeek claimed that the MLM “program” had more than 100,000 members in Brazil alone. Haaretz.com reported in August that Zeek may have had 20,000 members in Israel.

In recent days, Zeek receiver Kenneth D. Bell has been posting notice of the August SEC complaint and his appointment as receiver in federal courts in multiple states.  The filing in Guam appears to be the first in a U.S. territory, as opposed to a state. The filings set the stage to consolidate Zeek-related court actions in the Western District of North Carolina before Senior U.S. District Judge Graham C. Mullen.

Bell has said he’ll pursue clawback litigation against Zeek “winners.”

Some military members were victims of the infamous “3 Hebrew Boys” Ponzi scheme in South Carolina, another state that includes multiple military installations.

Some promoters of AdSurfDaily, a Zeek-like “program” that planted the seed it provided a return of 1 percent a day, deliberately targeted military members and their spouses.

From a May 2008 pitch for ASD targeted at military families. ASD collapsed in August 2008.

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3 Responses to “The Incredible Reach Of Zeek: Receiver Files In Guam”

  1. Hey, this is great news for Zeek! It’s just a routine Federal Agency thingy and when it’s over and Zeek is back up and operating, they’ll be clear in all those jurisdictions!

    :)

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  2. Gregg: Hey, this is great news for Zeek! It’s just a routine Federal Agency thingy and when it’s over and Zeek is back up and operating, they’ll be clear in all those jurisdictions!

    :)

    Yes. And when that preposterous yarn advanced by the Zeekers collapses, it wouldn’t surprise me if they come up with an even more preposterous yarn — something along these lines: “We’re winning because the receiver is filing all over the place, which shows that the SEC can’t find any victims or evidence of a security, so the receiver is out trawling with a wide net to recruit victims.”

    It’s good to see you, Gregg.

    For readers:

    http://patrickpretty.com/2012/08/29/as-zeek-apologists-solicit-funds-and-plant-seed-theyll-sue-sec-guest-columnist-asks-whose-lawyer-is-this-anyway/

    http://patrickpretty.com/2012/08/19/post-zeek-guest-column-who-are-these-experts-anyway/

    Patrick

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  3. Gregg: didn’t turn out to be such great news after all! LOL!

    The word “delusional” comes to mind as well as stupid, both those that joined and lost money, as well as those who were determined to be “net winners” and now getting hit with “clawbacks!”

    You might want to send Dawn and her stepson a card while they’re in prison! I’m sure they’d love to hear from you!

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