Alleged Ponzi Schemes

BULLETIN: Receiver Sues USHBB Inc., Maker Of Zeek Videos — And Ties Firm To AdSurfDaily Ponzi Scheme

BULLETIN: Receiver Sues USHBB Inc., Maker Of Zeek Videos -- And Ties Firm To AdSurfDaily Ponzi Scheme

9th UPDATE 9:01 P.M. EDT U.S.A. Indianapolis-based USHBB Inc. and three of its principals — James A. Moore, Robert Mecham and Oscar H. Brown — have been sued by the court-appointed receiver in the Zeek Rewards Ponzi- and pyramid-scheme case. Receiver Kenneth D. Bell alleges USHBB, a producer of videos, also did work for the […]

Registration Page At TelexMOB Triggers ‘Web Forgery’ Warning In Firefox Browser

Registration Page At TelexMOB Triggers 'Web Forgery' Warning In Firefox Browser

Late last night the PP Blog visited the registration page of the emerging and bizarrely named “TelexMOB” scheme, which appears to be targeting victims of the alleged TelexFree Ponzi- and pyramid scheme. Our earlier story is here. The page now is triggering a “Web Forgery” warning in the Firefox browser. Such warnings may be associated […]

United States Asks Canada To Extradite Nicholas Smirnow, Alleged Head Of ‘Pathway To Prosperity’ Ponzi Scheme

United States Asks Canada To Extradite Nicholas Smirnow, Alleged Head Of 'Pathway To Prosperity' Ponzi Scheme

UPDATED 7:41 P.M. EDT U.S.A. If the office of U.S. Attorney Stephen R. Wigginton of the Southern District of Illinois gets its way, Canada will turn over accused international Ponzi schemer Nicholas Smirnow to the United States. Smirnow, whom INTERPOL says in a wanted notice is 57, was arrested at Toronto‚Äôs Pearson International Airport a […]

Now, ‘TelexMOB’

Now, 'TelexMOB'

UPDATED 11:25 A.M. EDT U.S.A. Something calling itself “TelexMOB” has established a web presence this month. A logo resembling that of TelexFree — an alleged Ponzi- and pyramid scheme said to have gathered $1.8 billion across national borders — appears on the site. BehindMLM.com was first with the news today. The PP Blog has sent […]

SEC Enforcement Chief References Investor Alert On ‘Pyramid Schemes Posing As Multi-Level Marketing Programs’ In Congressional Testimony Today, Says ‘Coordinated Effort’ To Disrupt Them Under Way

SEC Enforcement Chief References Investor Alert On 'Pyramid Schemes Posing As Multi-Level Marketing Programs' In Congressional Testimony Today, Says 'Coordinated Effort' To Disrupt Them Under Way

“The staff also has recently seen what appears to be an increase in pyramid schemes . . . under the guise of ‘multi-level marketing’ and ‘network marketing’ opportunities . . . These schemes often target the most vulnerable investors, and social media has expanded their reach. The Division is deploying resources to disrupt these schemes […]

Zeek Receiver Posts ‘Notice Of Certification Of Defendant Class Action'; Document Pertains To Thousands Of Alleged ‘Winners’

Zeek Receiver Posts 'Notice Of Certification Of Defendant Class Action'; Document Pertains To Thousands Of Alleged 'Winners'

What once was only theoretical in the context of MLM HYIP schemes — that a receiver appointed by a court could simultaneously sue thousands of “winners” from disparate locations for return of funds received from an alleged Ponzi or pyramid scheme — is now a reality. This reality was cemented today by the posting of […]

PARTINGS: Ronald C. Machen Jr., Whose Office Led AdSurfDaily Criminal Prosecution, Is Leaving Post As U.S. Attorney For District Of Columbia

PARTINGS: Ronald C. Machen Jr., Whose Office Led AdSurfDaily Criminal Prosecution, Is Leaving Post As U.S. Attorney For District Of Columbia

“Serving as the U.S. Attorney for the District of Columbia has been the highest honor of my professional career. I am tremendously grateful to the President, Attorney General Holder, and Congresswoman Eleanor Holmes Norton for placing their trust in me. The men and women of this office are among the most dedicated and talented public […]

BULLETIN: Zeek Figure Robert Craddock Indicted In Separate Scheme

BULLETIN: Zeek Figure Robert Craddock Indicted In Separate Scheme

BULLETIN: Florida resident Robert Craddock, a figure in the Zeek Rewards Ponzi-scheme story, has been indicted in a separate scheme involving the alleged theft of more than $135,000 from a compensation fund set up to assist businesses affected by the Deepwater Horizon oil spill in 2010. The office of U.S. Attorney A. Lee Bentley III […]

EgoPay Site Inaccessible

EgoPay Site Inaccessible

Poster “Markus” stopped at the PP Blog at 2:19 p.m. ET today, raising a question about why the site of the EgoPay payment processor won’t load. When the PP Blog later sought to visit the site, it encountered this error message: “www.egopay.com – Connection failed.” Precisely when the site started generating that message is unclear. […]

BULLETIN: CLAIM: Former CIA Operative Was Paid More Than $400,000 By Companies Linked To WCM Ponzi Scheme

BULLETIN: CLAIM: Former CIA Operative Was Paid More Than $400,000 By Companies Linked To WCM Ponzi Scheme

UPDATED 9:44 P.M. EDT MARCH 14 U.S.A. How strange were things in the universe of WCM777, an MLM “program” accused by the SEC last year of pulling off an $80 million, cross-border Ponzi swindle? Would you believe that a former CIA operative with two felony convictions ended up on the payroll? Robert Sensi, the former […]

‘MyAdvertisingPays’ And A Bromide Thrice Vomited

'MyAdvertisingPays' And A Bromide Thrice Vomited

It turns out that a hackneyed expression currently in play within MyAdvertisingPays (MAPS) is a lightly remixed version of one used in the collapsed Zeek Rewards and Achieve Community schemes. Will this thrice-vomited bromide become a kiss of death for MAPS? Back before the SEC shut down Zeek in 2012, the $897 million scheme traded […]