Archive for November 2014

The Monumentally Alarming Tale Of ‘Secure Investment’

The Monumentally Alarming Tale Of  'Secure Investment'

“Secure Investment lured customers by creating its own good reputation and by publishing a seemingly successful trading record on its elaborate website. It was all a lie. The company’s claims to have offices and a large staff were also false. At least some of its so-called customer testimonials were actually delivered by actors.” — Bloomberg […]

REPORTS: Paul Burks, Alleged Operator Of $850 Million Zeek Rewards Ponzi, Pleads Not Guilty And Is Released On $25,000 Unsecured Bond

REPORTS: Paul Burks, Alleged Operator Of $850 Million Zeek Rewards Ponzi, Pleads Not Guilty And Is Released On $25,000 Unsecured Bond

Paul Burks pleaded not guilty this morning and has been released on $25,000 unsecured bond, The Dispatch newspaper of Lexington, N.C., is reporting. Burks, 67, was the alleged operator of Zeek Rewards, which federal authorities have described as an $850 million Ponzi- and pyramid scheme. He was indicted last month on charges of wire and […]

URGENT >> BULLETIN >> MOVING: SEC Charges Alleged HYIP Operators Who Ran ‘Profits Paradise’ From India; Scammers Allegedly Used Fake Names And Engaged In Wanton Deception

URGENT >> BULLETIN >> MOVING: SEC Charges Alleged HYIP Operators Who Ran 'Profits Paradise' From India; Scammers Allegedly Used Fake Names And Engaged In Wanton Deception

URGENT >> BULLETIN >> MOVING: (Updated 9:33 p.m. ET U.S.A.) The SEC has charged two Indian nationals with running an HYIP scheme known as “Profits Paradise” that reached into the United States and offered “extraordinary” returns of up to 480 percent in 240 days, plus “compounding.” As is typical in HYIP schemes, the “program” gained […]

UPDATE: With Purported 100 Percent ‘Repurchase Or Recapitalization Feature,’ BitClub Network Dials Up The Scamming

UPDATE: With Purported 100 Percent 'Repurchase Or Recapitalization Feature,' BitClub Network Dials Up The Scamming

Affiliates of the BitClub Network “mining” scam have taken to Twitter today with news asserted to be glorious: Participants can leave 100 percent of their money in the “program.” “The reason why you should consider setting all your bitclub network mining pool repurchases to 100% is the fact that you will build up your amount […]

U.S. Postal Service Targeted In Cyber Attack; Customer, Employee Data Breached

U.S. Postal Service Targeted In Cyber Attack; Customer, Employee Data Breached

There have been cyber attacks on banks, retail outlets, U.S. government sites and sites operated by U.S. government contractors. And now the FBI is investigating an attack on the U.S. Postal Service. In some ways, the attack might be viewed by Americans as the most personally violative to date. Virtually the whole of America — […]

Self-Described Missouri ‘Sovereign Citizen’ And Associates Brought ‘Fake Criminal Charges’ Against Banker In Fictitious ‘International Environmental Court,’ Authorities Say

Self-Described Missouri 'Sovereign Citizen' And Associates Brought 'Fake Criminal Charges' Against Banker In Fictitious 'International Environmental Court,' Authorities Say

UPDATED 2:27 P.M. ET U.S.A. The prosecuting attorney for Greene County, Mo., has publicly thanked a People’s Bank manager for “not succumbing to [John F. Gibson’s] attempts to harass and bully his way out of responsibility for his criminal conduct.” Gibson, 61, of Willard, Mo., entered a guilty plea Oct. 29 to a felony charge […]

President Obama To Nominate Loretta Lynch To Replace Eric Holder As Attorney General

President Obama To Nominate Loretta Lynch To Replace Eric Holder As Attorney General

UPDATED 8:42 A.M. ET NOV. 9 U.S.A. Many Americans will have only a vague recollection of her name. Others will not be able to place her at all. But they’ll remember cases with which she has been involved. One of those involved the prosecution of New York City police officers, including Justin Volpe, implicated in […]

UPDATE: Another Bizarre Turn In WCM777 Ponzi Probe

UPDATE: Another Bizarre Turn In WCM777 Ponzi Probe

With a storyline that has included claims that $14,000 would turn into $500,000 in a year, a declaration of love to the Peruvians it had fleeced and additional claims that all would become clear when “4 blood moons” appeared in the sky in April, the WCM777 “cloud computing” MLM scam has served up a symphony […]

URGENT >> BULLETIN >> MOVING: First U.S. Criminal Prosecution Of Bitcoin-Themed Scheme; Trendon Shavers Arrested

URGENT >> BULLETIN >> MOVING: First U.S. Criminal Prosecution Of Bitcoin-Themed Scheme; Trendon Shavers Arrested

In the first U.S. criminal prosecution involving a Bitcoin-themed scheme, Trendon Shavers has been arrested and charged with securities fraud and wire fraud. Shavers, 32, of McKinney, Texas, was charged civilly by the SEC in July 2013. He is known as “pirateat40,”  and allegedly pushed his Bitcoin Savings and Trust Ponzi scheme from a forum. […]

NORTH CAROLINA: Teen Allegedly Swindled Senior Citizens In ‘Stark Innovations’ Scam That Purportedly Sold Overseas ‘Electronic Consumer Goods In Bulk’

NORTH CAROLINA: Teen Allegedly Swindled Senior Citizens In 'Stark Innovations' Scam That Purportedly Sold Overseas 'Electronic Consumer Goods In Bulk'

A North Carolina teenager who allegedly swindled senior citizens in an investment scam known as Stark Innovations was arrested yesterday, North Carolina Secretary of State Elaine F. Marshall said. Bond for the suspect, David Alan Topping, 19, of Oak Island, was set at $250,000. The Brunswick County Sheriff’s Office assisted with the case. “I am […]

Quebec Moves To Shut Down Site That Purportedly Monitors HYIP Programs, Saying Operator Is Aiding Scammers

Quebec Moves To Shut Down Site That Purportedly Monitors HYIP Programs, Saying Operator Is Aiding Scammers

If the Autorité des marchés financiers (AMF) gets its way, a website styled maxhyip.com will be shut down and its operator blocked from promoting “products and services relating to various high-yield investment programs (HYIP[s]) to Quebeckers.” The alleged operator of the site is Steeve Beaudin, against whom AMF is seeking a cease-trade order and “administrative […]