Alleged Ponzi Schemes

Alleged Zeek ‘Winner’ Repeatedly Invokes Fifth Amendment In Clawback Case

Alleged Zeek 'Winner' Repeatedly Invokes Fifth Amendment In Clawback Case

UPDATED 3:07 P.M. EDT U.S.A. Darren Miller, an alleged winner of more than $1.635 million in Zeek Rewards and one of the lead defendants in a civil class-action clawback lawsuit filed by Zeek receiver Kenneth D. Bell, repeatedly has invoked his Fifth Amendment right not to incriminate himself, according to new court filings by Miller. In […]

URGENT >> BULLETIN >> MOVING: TelexFree Trustee Sues MLM Attorney Gerald Nehra

URGENT >> BULLETIN >> MOVING: TelexFree Trustee Sues MLM Attorney Gerald Nehra

URGENT >> BULLETIN >> MOVING: (6th Update 8 p.m. EDT U.S.A.) TelexFree Trustee Stephen B. Darr has sued MLM attorney Gerald Nehra and the Nehra and Waak law firm, alleging they were “actively involved” in promoting TelexFree’s Ponzi scheme and “duping” participants. Nehra and the firm have asked for more time to respond to the April 1 complaint, […]

DEVELOPING STORY: Phil Ming Xu Of WCM777 May Be Under Arrest In China

DEVELOPING STORY: Phil Ming Xu Of WCM777 May Be Under Arrest In China

UPDATED 3:11 P.M. EDT U.S.A. A report dated today at ShanghaiDaily.com says an individual “surnamed Xu” and associated with “World Capital Market Inc.” is “now in custody” after a police action against a “pyramid scheme” in China. The PP Blog has contacted the U.S. Securities and Exchange Commission to determine if the person reportedly under […]

After FBI Probe, Ju Ding Inc. (Juding) Exposed As Ponzi, Feds Say; Wenxing Huang Arrested

After FBI Probe, Ju Ding Inc. (Juding) Exposed As Ponzi, Feds Say; Wenxing Huang Arrested

A fraudster who used “fancy cars and parties” to dupe investors has been arrested after an FBI investigation, said Eileen M. Decker, the top federal prosecutor in the Central District of California. Wenxing Huang, 33, of San Gabriel, has been charged with money-laundering and wire fraud in an alleged Ponzi scheme that gathered at least […]

At Least 24 International TelexFree ‘Winners’ Allegedly Received More Than $1 Million Each

At Least 24 International TelexFree 'Winners' Allegedly Received More Than $1 Million Each

On April 20, the PP Blog reported that TelexFree Trustee Stephen B. Darr had proposed to add dozens of U.S. defendants to a class-action lawsuit that seeks the return of gains from alleged “winners” in the judicially declared Ponzi- and pyramid scheme. Filings docketed on April 22 show that Darr also is seeking to add […]

CKB168 CASE: 2 Promoters Plead Guilty To Criminal Counts; 3 Others Face Trial

CKB168 CASE: 2 Promoters Plead Guilty To Criminal Counts; 3 Others Face Trial

Two U.S.-based promoters of the noxious CKB168 cross-border pyramid scheme aimed at Chinese-Americans have pleaded guilty to wire-fraud, the office of U.S. Attorney Eileen M. Decker of the Central District of California said. The SEC sued Cheong Wha “Heywood” Chang, 48, and his wife, Toni Chen, 47, in 2013. Federal prosecutors later charged them criminally, […]

Payza Reports Web Outage

Payza Reports Web Outage

Payza, an HYIP-friendly payment processor currently under fire from the receiver in the Zeek Rewards Ponzi- and pyramid-scheme case, is reporting on Twitter that it is experiencing a web outage. At the time of this PP Blog post, the outage appears to be more than four hours old. A post with no timestamp at the Payza […]

SEC, Trustee, Defense Attorneys Mum On Possible Deeper Ties Between TelexFree And DFRF Schemes

SEC, Trustee, Defense Attorneys Mum On Possible Deeper Ties Between TelexFree And DFRF Schemes

The SEC declined Friday to say whether two individuals named prospective defendants in a massive class-action lawsuit brought by the Trustee in the 2014 TelexFree bankruptcy case were the same two persons charged with securities fraud last year by the agency in the DFRF Enterprises/Daniel Fernandes Rojo Filho Ponzi- and pyramid-scheme case. On June 30, 2015, […]

Faith Sloan’s Alleged TelexFree Haul: $710,319

Faith Sloan's Alleged TelexFree Haul: $710,319

UPDATED 3:32 P.M. EDT U.S.A. Faith Sloan received $710,319 from the TelexFree Ponzi- and pyramid scheme, according to filings by TelexFree bankruptcy Trustee Stephen B. Darr. Sloan, whose address was listed as Virginia Beach, Va., is a longtime Illinois HYIP huckster on Ponzi boards and social media. She and three other TelexFree promoters were charged in […]

MyAdvertisingPays Incorporated In Jurisdiction Mentioned Prominently In ‘Panama Papers’; Its Payment Vendor Lists Individuals Referenced In At Least 2 Spectacular Fraud Schemes

MyAdvertisingPays Incorporated In Jurisdiction Mentioned Prominently In 'Panama Papers'; Its Payment Vendor Lists Individuals Referenced In At Least 2 Spectacular Fraud Schemes

8TH UPDATE 11:53 P.M. EDT U.S.A. Before we get to the news that a federal judge took only a day to dismiss an April 6 libel lawsuit filed by the MyAdvertisingPays (MAPS) scheme and operator Michael E. Deese against the TaraTalks Blog, we’ll note that the 16-page complaint confirms that MAPS is incorporated in Anguilla. Anguilla is […]

‘Pay It Forward’ Gifting Scheme Leads To Felony Racketeering Charge, Sparks Child-Porn Probe In Michigan

'Pay It Forward' Gifting Scheme Leads To Felony Racketeering Charge, Sparks Child-Porn Probe In Michigan

As the PP Blog reported more than six years ago, Pay It Forward (PIF) “programs” have a noxious history in HYIP and cash-gifting Scamland. A new case in Michigan, however, may be off-the-charts in terms of noxiousness. That’s because investigators looking into a PIF scheme there found child pornography on the alleged PIF operator’s computer, […]