HIGH POINT (N.C.) ENTERPRISE: Zeek Reached Out To Pluck Utah Man; 1 Downline Had 1,500 Members, Victim Tells Paper

Zeek Rewards likely had a presence in all 50 U.S. states, plus U.S. territories. The High Point Enterprise, a publication in Zeek’s home state of North Carolina, today has a story about a Utah man who joined the “program” just prior to the SEC bringing allegations in August 2012 that Zeek was a $600 million Ponzi- and pyramid scheme.

From the Enterprise (italics added):

During recruitment meetings at a house in Richfield, Olsen said he was approached with a soft-sale pitch to become part of Zeek Rewards. Olsen was told that his $10,000 “would build my credit in the business” and allow him to reap greater income. The recruitment of Olsen took place over a period of months, and the approach was to build a relationship of trust rather than “twist my arm,” he said. The Zeek Rewards affiliates that Olsen met emphasized that the money he provided wasn’t an investment. But when the Securities and Exchange Commission shut down Zeek Rewards, the federal agency called it an unregistered securities business.

“They said that they would be in trouble if they called it investing,” Olsen recalls.

Read the full story in the Enterprise, which described Olsen as an individual who’d just lost his job and discussed a plan with his wife by which the couple would sell a family vehicle to join Zeek.

See “Zeek, The ‘I’ Word And The Weight Of History . . .,” an editorial published by the PP Blog on July 25, 2012.

EDITORIAL NOTE: Ponzi schemes cause real pain to real people. Regardless, the Ponzi-board apologists for Zeek continue to demonize the court-appointed receiver, continue to engage in wordplay to sanitize “opportunities” and continue to fuel schemes such as Zeek by parroting disclaimers such as “don’t spend more than you can afford to lose.”

Blaming victims or insisting no victims exist is one of the most odious practices of the serial Ponzi pitchmen.

 

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5 Responses to “HIGH POINT (N.C.) ENTERPRISE: Zeek Reached Out To Pluck Utah Man; 1 Downline Had 1,500 Members, Victim Tells Paper”

  1. Not to mention that any due diligence would have shown that Zeekler’s auction revenue could not sustain Zeek Rewards.

    First, there was the common sense approach: “why would Zeek Rewards need affiliates to spam worthless classified ads that have rapid diminishing returns if the auction were so successful?”.

    Secondly, as posted by myself and Oz at BehindMLM, ‘reverse engineering’ auction results on Zeekler by querying auction id’s on a daily basis showed that it was impossible for Zeekler auctions to be bringing in even 10% of the revenue. This is assuming all the auctions were legitimate with no shill bidders.

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  2. Truthfully speaking every business/investment adventure days are numbered, whether it last 1 day or 100 yrs. Someone is going to be left holding the bag, did the death of the adventure deem it a ponzi scheme? Things on this planet are based on using the energy of people whether we like it or not, the issue at had is what side of karma are you on? the reaping or the sowing………No different than those with the illusion of protected goverment job compared to those working in private sector who’s dreams can be SHATTERED at the wink of an cancelled contract, where the top man who won the contract got his “BELIEVE THAT”! SIGNED GET BACK WIT ME!

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  3. LOL. All your scams are getting busted before you can get your cash back out.

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  4. And all your pay check is gone before the next one is born……….DLAA!

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  5. I don’t hand them over to scammers so, no.

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