URGENT >> BULLETIN >> MOVING: Alabama Issues Warning On ‘Profitable Sunrise’

breakingnews72URGENT >> BULLETIN >> MOVING: The state of Alabama has issued a warning on Profitable Sunrise. The move follows on the heels of a cease-and-desist order issued last week by North Carolina.

The warning comes in the form of an “investor alert” issued by the office of Joseph Borg, the director of the Alabama Securities Commission.

“We want to make our citizens aware of the potential perils of web-based investment marketing,” said Borg. “As with all investment opportunities, investors should thoroughly scrutinize any offer, especially if it comes from a foreign country,” Borg said. “Most investment offerings, as well as the person making an investment offering, must be registered with the Alabama Securities Commission. This is a critical first step in protecting the public from con artists and investment fraud.”

Borg urged “anyone in Alabama who has invested with Profitable Sunrise to contact the ASC’s Enforcement Division at 1-800-222-1253.”

From ASC (italics added):

An investigation of Roman Novak, Radoslav Novak and their company, Inter Reef, Ltd., doing business as Profitable Sunrise, revealed that the men allegedly promoted at least five different “investment plans” through a website that offered rates of return ranging from 1.6% per business day to 2.7% per business day for periods of from between 180 to 240 business days. Investors were told that their money would be used to fund short-term, “risk-free” loans to businesses, and that “all funds deposited with us are insured against loss” by a leading investment bank. Further investigation revealed that victims had been instructed to wire money to financial institutions in Eastern Europe, including one bank identified as being in the Czech Republic. ASC records revealed that neither of the men, nor the company they represent, are registered to conduct securities business in Alabama, as required by the Alabama Securities Act.

Read the ASC warning.

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16 Responses to “URGENT >> BULLETIN >> MOVING: Alabama Issues Warning On ‘Profitable Sunrise’”

  1. I wonder which state is next? Roman announced no more payment processor payouts only bank wires, and the faithful are going nuts on the typical Ponzi forums. Just another way to reduce the daily payments to keep this going for another week or two before he runs.

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  2. Lynndel “Lynn” Edgington: Just another way to reduce the daily payments to keep this going for another week or two before he runs.

    Hi Lynn,

    Just speculation, but it would seem Profitable Sunrise would have to do something to free cash flow to meet the demand for Easter payoffs. PS will need a reliable slate of shills to make “I got paid” posts that reflect Easter payouts.

    So, maybe PS is sacrificing the lesser players by effectively blocking/delaying their ability to use the payment processors so it can free cash to pay select shills via wire to sustain the deception. In short, breathing room.

    On a side note, I’ve seen evidence today that the ASDers are in PS, including an email address for a purported PS promoter who authored an ASD “news release” in 2007.

    Patrick

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  3. Only takes one state to kill a scheme, but deniers will keep on denying as long as one state haven’t said it’s illegal. Then they’ll claim it’s still legal in USVI or Puerto Rico. :-P

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  4. I doubt there will be an Easter Payout. That was the money grab.

    He’ll be gone before then, especially with the authorities coming down on him.

    ARWR

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  5. Seems to me that if the USA government do not want their residents participating in these types of programs perhaps the government needs to stop them.. and leave the rest of us and the program alone, particullarily if it is not on american soil.
    We all know the risks involved in online income generation… why is it the American government doesnt think its residents are smart enough to make their own decisions regarding their own money. I do not need or want the american government involved in my decisions or my finances.
    Same for you Mr. Pretty.

    Signed
    Canadian and smart enough to make my own choices with my money!

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  6. L. Tapey: We all know the risks involved in online income generation…

    ALL ???

    You know everybody ?????

    IM(very)HO, protecting one person who believes they have invested in a legitimate company is worth upsetting 10,000 HYIP ponzi players.

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  7. L. Tapey: Canadian and smart enough to make my own choices with my money!

    Are you implying the the Canadian government or the provincial governments are keen on Profitable Sunrise, a “program” that bizarrely dubbed one of its plans the “Long Haul” and purported it paid 2.7 percent a day?

    I have my doubts that Canada wants a scheme such as Profitable Sunrise reaching across its borders.

    Patrick

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  8. admin: Are you implying the the Canadian government or the provincial governments are keen on Profitable Sunrise, a “program” that bizarrely dubbed one of its plans the “Long Haul” and purported it paid 2.7 percent a day?

    I have my doubts that Canada wants a scheme such as Profitable Sunrise reaching across its borders.

    Patrick

    I am from Canada, BC in fact. No, Canada does not allow unlicensed investors from anywhere in the world, each province has different licensing for investors and firms. If people’s first thing to do when wanting to ‘invest’ online, or ‘make money’ they need to investigate and educate them selves to there countries, and state/province/area’s laws that regard personal investment and tax regulations.

    They will soon find out a very real truth, every country is different. USA, Canada,UK and Switzerland all have very specific investment and tax reporting laws. Russia, well they do not have any that I know of.

    Once you find out if it is legal for you as a person, then you must check the laws of the person, company or opportunity you wish to invest in for a return to see if there country allows persons in your country to invest with them, then you must look at the laws to see if there country allows you, an outside citizen, to invest in there country.

    And this is only what I have investigated trying to find out what is legal and not. So if it is this unclear, hire a legal lawyer/tax consultant to research the laws and investment opportunities you want to be involved in.

    And truly, if you look at profitablesunrises website, read the faq, the terms of service and the ‘investment application form’ you might just start to second guess yourself.

    also as to where they are located,
    justanswer dot com/fraud-examiner/72i86-street-address-phone-number-profitable.html#ixzz2DrTUqMS3

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  9. Are you serious that PS is a scam….lol. i was really diggin the whole 2.15% . But people will say anything about somrthing they dont know about ! I hope its nit a scam cause if it is i will never trust another internet business again !

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  10. The so called authorities are always trying to block the common people from trying to get an edge on this life of slavery but on the other had they legalize state run LOTTERYS knowing well that the majority of the people are throwing their hard earned money away everyday with the “greatest” of odds against them… BUT THEY AINT CEASING AND DESISTING ORDERS ON THAT!!! SIGNED, GET BACK WIT ME!

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  11. When did you ever see a state licensed lottery claiming to be a multi billion dollar lending company ??

    When did you ever see a state licensed lottery simply close down and run away with the money ??

    When did you ever see a lottery claiming to be anything but a lottery ???

    Apples and oranges, Rayhawk47, apples and oranges.

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  12. The lotterys are claiming to do something with our school system, do you see anything different? have you ever seen the money generated from the lottery no! One thing you do see is people loosing their money 99% of the time when they play though. dollars and cents littleroundman dollars and sense……….

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  13. You didn’t answer any of my questions, rayhawk.

    Not surprising.

    Analogies are not answers.

    Subject A doing something wrong does not mean subject B has a right to do something wrong.

    Except on the playground, that is.

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