UPDATE: 2 Key Figures In Zeek Case Will Be Under Supervision Of U.S. Probation Office While Out On Bond

In an update to victims of the $850 million Zeek Rewards Ponzi scheme, federal prosecutors said Dawn Wright-Olivares and Daniel Olivares will be under the supervision of the U.S. Probation Office while out on bond.

Wright-Olivares, 45, was Zeek’s former COO. She pleaded guilty last week to investment-fraud conspiracy and tax-fraud conspiracy.

Daniel Olivares, the 31-year-old stepson of Wright-Olivares, pleaded guilty to investment-fraud conspiracy.

Both Olivares and his stepmother were released on $25,000 unsecured bond. They are believed to be cooperating with the government.

The office of U.S. Attorney Anne M. Tompkins of the Western District of North Carolina is leading the criminal probe. The SEC is spearheading a civil probe that was announced in 2012.

Zeek operator Paul R. Burks was charged civilly in August 2012 with securities fraud and selling unregistered securities. Wright-Olivares and Olivares were charged civilly and criminally in December 2013.

Tompkins’ office has established a page for Zeek victims.

Kenneth D. Bell, the court-appointed receiver in the civil case, also has been appointed special master in the criminal case.

In terms of the number of victims, Zeek may be the largest Ponzi scheme in U.S. history. Zeek operated as an MLM “program.” In the end, losers could have filled California’s Rose Bowl to capacity approximately 10 times over.

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2 Responses to “UPDATE: 2 Key Figures In Zeek Case Will Be Under Supervision Of U.S. Probation Office While Out On Bond”

  1. Test. Please ignore.

    Patrick

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  2. Please tell me why Paul burks is still walking the streets .

      (Quote)

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