Alleged Ponzi Schemes

DEVELOPING STORY: More Than $800,000 In Funds Potentially Due Zeek Victims May Have Been Stolen By Credit-Card Vendor’s California Lawyer

DEVELOPING STORY: More Than $800,000 In Funds Potentially Due Zeek Victims May Have Been Stolen By Credit-Card Vendor's California Lawyer

UPDATED 9:15 A.M. ET DEC. 19 U.S.A. If its presence on the Ponzi boards and similarity to the AdSurfDaily Ponzi scheme were not enough, the morass surrounding Zeek Rewards and operator Rex Venture Group may be getting even muddier. A Zeek credit-card vendor being pursued by the court-appointed receiver in the SEC’s 2012 Ponzi- and […]

IRONY: Scheme Whose Actual Name is ‘PlanB’ Tackled By European Authorities

IRONY: Scheme Whose Actual Name is 'PlanB' Tackled By European Authorities

One of the core signatures of an HYIP scam is highlighted when a “program” is presented as a “Plan B,” typically in the context of creating “multiple income streams” or “in case Plan A fails, you’d better have a “Plan B.” Zeek Rewards A-lister Keith Laggos gushed about Lyoness, his “Plan B” program. Zeek collapsed […]

BULLETIN: Extraordinary Drama Playing Out In Zeekland; Credit-Card Processor Says It Has Been ‘Rendered Insolvent’ Through Misconduct Of Paul Burks And Rex Venture Group

BULLETIN: Extraordinary Drama Playing Out In Zeekland; Credit-Card Processor Says It Has Been 'Rendered Insolvent' Through Misconduct Of Paul Burks And Rex Venture Group

BULLETIN: (8th Update 10:09 p.m. ET Dec. 18 U.S.A.) Payment vendor for a Ponzi-board “program?” More than two years after the shutdown of Zeek Rewards by the SEC, Plastic Cash International, a credit-card processor and would-be debit-card vendor for Zeek, said it has been “rendered insolvent as a result of the misconduct of [Rex Venture […]

UPDATE: Competing Cycler Advertised Inside ‘Achieve Community’ Forum Collapsed At Launch Yesterday

UPDATE: Competing Cycler Advertised Inside 'Achieve Community' Forum Collapsed At Launch Yesterday

UPDATED 2:12 P.M. ET U.S.A. A competing cycler advertised inside the supposedly private “Achieve Community” forum and promoted on the MoneyMakerGroup forum collapsed at launch yesterday, triggering a classic uproar among willfully blind Ponzi-board scammers. The name of the cycler is Cycles 24/7. The PP Blog learned of the “program” only because Achieve promoter Mike […]

URGENT >> BULLETIN >> MOVING: Nicholas Smirnow, Pathway To Prosperity HYIP Ponzi Figure, Arrested At Airport In Canada

URGENT >> BULLETIN >> MOVING: Nicholas Smirnow, Pathway To Prosperity HYIP Ponzi Figure, Arrested At Airport In Canada

URGENT >> BULLETIN >> MOVING:  (6th update 9:35 p.m. ET U.S.A.) Nicholas Smirnow, still listed by INTERPOL as a person wanted by the United States in the alleged Pathway To Prosperity (P2P) HYIP Ponzi scheme that affected people in 120 countries, has been arrested at Toronto’s Pearson International Airport, Canadian media outlets are reporting. U.S. […]

BOSTON GLOBE: 60,000 TelexFree Victims In South Africa Alone, Lawyer Tells Trustee; 2 Million Across The World, 1.3 BILLION Customer Transactions

Meet the man tasked with paying out claims to victims of the alleged TelexFree scam. http://t.co/pzwszb8ky0 pic.twitter.com/7tkqlh8mRD — The Boston Globe (@BostonGlobe) December 16, 2014 The Boston Globe is reporting today that TelexFree bankruptcy trustee Stephen Darr has been told that 60,000 victims of the alleged MLM Ponzi- and pyramid scheme exist in South Africa […]

BULLETIN: Judge Freezes Property Owned By Mother Of WCM777 Ponzi Figure Ming Xu

BULLETIN: Judge Freezes Property Owned By Mother Of WCM777 Ponzi Figure Ming Xu

BULLETIN: A federal judge has frozen real estate in California owned by the mother of accused WCM777 MLM Ponzi schemer Ming Xu. U.S. District Judge John F. Walter of the Central District of California took the action today after court-appointed receiver Krista. L. Freitag alleged Friday that the $730,000 used to purchase the San Gabriel […]

FEDS: Liberty Reserve Figure Mark Marmilev Shilled On TalkGold Ponzi Forum And Also Hired Shills To Do So; Memo Speaks To Vast Wasteland Of Online Criminality

FEDS: Liberty Reserve Figure Mark Marmilev Shilled On TalkGold Ponzi Forum And Also Hired Shills To Do So; Memo Speaks To Vast Wasteland Of Online Criminality

Mark Marmilev, the technology specialist for the cross-border Liberty Reserve money-laundering operation favored by HYIP scammers and other criminals before its May 2013 collapse, shilled on the TalkGold Ponzi forum, U.S. federal prosecutors said in a sentencing memo. Marmilev, 35, of Brooklyn, N.Y., also hired forum shills and separately tried to hatch an SEO scheme […]

URGENT >> BULLETIN >> MOVING: Court Denies Zeek Winners’ Motions To Dismiss Clawback Actions, Upholds Jurisdiction

URGENT >> BULLETIN >> MOVING: Court Denies Zeek Winners' Motions To Dismiss Clawback Actions, Upholds Jurisdiction

URGENT >> BULLETIN >> MOVING: (3rd Update 10:03 a.m. ET Dec. 10 U.S.A.) The federal judge presiding over clawback cases against alleged Zeek Rewards “winners” has dismissed jurisdictional challenges and a claim by the winners that Zeek was not selling securities under the Howey Test. The rulings mean that clawback claims seeking millions of dollars […]

‘The Achieve Community’ Promoter Records Commercial At ATM In Hawaii; YouTube Text Promo Claims Achieve A ‘True Lifetime Income Plan!’

'The Achieve Community' Promoter Records Commercial At ATM In Hawaii; YouTube Text Promo Claims Achieve A 'True Lifetime Income Plan!'

UPDATED 10:42 A.M. ET DEC. 11 U.S.A. Promoters of the MPBToday network-marketing scam recorded promos at FDIC-insured banks and inside Wal-Mart stores to sanitize the outrageous “program’s” fraud scheme in 2010. In 2013, MPB Today operator Gary Calhoun was sentenced to a term in Florida state prison on a racketeering charge. MPBToday operated a cycler […]

4 People Arrested: ‘Your Own Branded Social Network’ (YOBSN) Was ‘MLM Fraud’ And ‘Pyramid’ With U.S. Webhost, Indian Police Say

4 People Arrested: 'Your Own Branded Social Network' (YOBSN) Was 'MLM Fraud' And 'Pyramid' With U.S. Webhost, Indian Police Say

Ever receive an MLM pitch that claims a “program” will be the next Facebook or that social-media riches are in your future? A “program” known as YOBSN (Your Own Branded Social Network) was an “MLM fraud” that collected millions of dollars and had a webhost in the United States, Bangalore City Police (India) say in […]