UPDATE: SEC Declines To Comment On Pitchman’s Video Promo For ‘Achieve Community’ And 2 Other Ponzi-Board ‘Programs’ That Used Footage From Agency’s Website
The U.S. Securities and Exchange Commission declined this morning to comment on a Jan. 9 YouTube pitch from an “Achieve Community” promoter who mixed nearly six minutes of footage from the SEC website into a pitch for Achieve and two other Ponzi-board “programs.”
Rodney Blackburn implied in the 14:27 production that the SEC did not have jurisdiction over “programs” such as Achieve, Unison Wealth and Trinity Lines. Parts of the Blackburn promo were recorded inside his back office of Unison Wealth.
“[D]ecline comment,” the SEC succinctly said today.
Achieve purports that $50 sent to the “program” fetches back $400. Members reportedly were permitted to buy multiple $50 “positions” and to roll a percentage of “earnings” back into the “program,” a straight-line money-cycling scheme.
A similar rollback feature was an element in the Zeek Rewards scheme shut down by the SEC in 2012.
Blackburn says he prefers “passive” programs. The SEC and state-level regulators have a history of acting against such ventures. Zeek, for example, was promoted as a “passive” scheme.
At about the 0:51 mark of Blackburn’s Jan. 9 video, ads for “programs” called “Paradox Cash” and “GlobalAdShare” appear, meaning that people such as Blackburn who sign up for Unison Wealth are being shown promos for still-other Ponzi-board schemes.
“GET PAID DAILY FOR DOING NOTHING,” the ad for GlobalAdShare blares.
Blackburn’s Jan. 9 video is at least the second confirmation that Unison Wealth is beaming ads for other HYIPs.
On Dec. 12, the office of then-U.S. Attorney Timothy J. Heaphy of the Western District of Virginia had no immediate comment on an Achieve Community call in which Blackburn was a host. The call demonstrated that Achieve was driving business by reaching across state lines and that one or more senior citizens had signed up, including a woman who claimed her 86-year-old husband of 53 years had been “in the hospital for a full year and six months in the nursing home.”
Achieve reportedly suspended payouts to members more than two months ago after losing its ability to conduct business through Payoneer. Although it announced a purported deal with Global Cash Card on Dec. 18 to resume payouts, that deal appears to have fallen through.
The “program” said last week that it would resume payouts on an unspecified date through a “temporary” processor. The “temporary” processor was not named.
The SEC’s Office of Investor Education and Advocacy recently has dialed up its efforts to educate the public about scams that spread on social-media platforms such as YouTube, Facebook and Twitter. Achieve and its promoters have or had a presence on all three.