BULLETIN: Zeek Receiver May Push For Contempt Against Payza
BULLETIN: New court filings in the Zeek Rewards’ Ponzi- and pyramid-scheme case brought by the SEC in 2012 say Zeek receiver Kenneth D. Bell may ask a federal judge for a finding of contempt against Payza, a payment processor. The news comes as federal prosecutors continue a criminal investigation involving Payza and Obopay, another payment processor. Prosecutors […]
EAdGear Case: Judge Orders More Than $26 Million In Disgorgement And Penalties
Another pyramid scheme has proven costly for its operators. Here, according to the SEC, is the rundown from the EAdGear case brought in 2014. eAdGear Holdings Limited and eAdGear Inc. have been ordered to disgorge $21 million in ill-gotten gains, pay prejudgment interest of $640,000 and pay a civil penalty in the amount of $1,000,000. […]