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Tag: North Carolina Secretary of State Elaine Marshall

  • ‘NewGNI,’ Apparent Knockoff HYIP Scam Promoted By Zeek And ‘Profitable Sunrise’ Cheerleader ‘Ken Russo,’ Appears To Have Collapsed

    kenrussozeekgni2The website of “NewGNI” has not resolved to a server for days. The “program” is believed to have been a knockoff of a predecessor scam known as “GNI” or GoldNuggetInvest, which collapsed in early 2010 after being promoted by members of the AdSurfDaily Ponzi scheme.

    The collapse of the original GNI was about as bizarre as they come in HYIP land. Critics were told to concentrate on earthquake relief in Haiti, rather than questioning the HYIP scheme. GNI’s collapse purportedly occurred after its operators sought “a crystal clear vision of our financial vortex.“

    Among the pitchmen for both GNI and NewGNI was Ponzi-board legend “Ken Russo,” also known as “DRdave.” Earlier, “Ken Russo” had promoted the $119 million ASD scheme. He later turned to ClubAsteria, which was trading on the name of the World Bank to reel in suckers. ClubAsteria promos came under the lens of CONSOB, the Italian securities regulator. “Ken Russo” also emerged as a pitchman for Zeek Rewards, which the SEC described in August 2012 as a $600 million Ponzi- and pyramid scheme operating from North Carolina.

    Among “Ken Russo’s” latest ventures is “Profitable Sunrise,” now the subject of a cease-and-desist order from North Carolina regulators.

    Profitable Sunrise purportedly is operated by Roman Novak. The “program” is being targeted at people of faith, some of whom appear to be defending it by weaving impossible tales. Any number of Ponzi-board taunts have been aimed at the Securities Division of North Carolina Secretary of State Elaine Marshall, even as ProfitableSunrise advertises a risk-free, preposterous return of 2.7 percent a day in its bizarrely named “Long Haul” program with a purported Easter holiday payoff.

    “lol @ NC officials,” says one post at MoneyMakerGroup. Another compares Marshall’s office to “Deputy Barney Fife,” an iconic TV character played by Don Knotts in the Andy Griffith Show.

    Even after the government of Belize issued a warning against GNI in 2009, scammers continued to promote it — virtually to the very day it collapsed and took an unspecified sum with it. The collapse triggered a bizarre series of conspiracy theories.

    GNI was operating concurrently with a now-collapsed scam bizarrely known as “Cash Tanker,” an “opportunity” aimed at Christians. Cash Tanker used an image of Jesus Christ in its promos and purported to pay 2 percent a day.

  • URGENT >> BULLETIN >> MOVING: North Carolina Orders ‘Profitable Sunrise’ To Cease And Desist; State Calls It An ‘Immediate And Significant Danger’

    americaatrisk4URGENT >> BULLETIN >> MOVING: The state of North Carolina — home base to the alleged $600 million Zeek Rewards Ponzi scheme — has ordered a purported offshore “opportunity” known as “Profitable Sunrise” to cease and desist from doing business in the state.

    Profitable Sunrise purports to be a hard-money lender and investment opportunity. It appears to have attracted some Zeek members both before and after the August 2012 collapse of Zeek. Zeek was under investigation by North Carolina, the SEC and the U.S. Secret Service at the time of its collapse.

    In its cease-and-desist order, North Carolina described Profitable Sunrise as “an immediate and significant danger” that is using multiple investment schemes to attract money, including a purported “Long Haul” plan.

    The offer is being targeted at people of faith through web-based promoters, some of whom described themselves as Christians. Offering materials for the “Long Haul” plan have advertised an Easter holiday payout.

    The company itself has advertised “risk free” payouts with “no chance of default,” according to the North Carolina order. And Profitable Sunrise also claims “investments are insured by a leading investment bank.”

    As the PP Blog reported in December, Profitable Sunrise appeared to qualify investors based on their views on hot-button issues, including abortion.

    North Carolina’s order names Roman Novak, Radoslav Novak and Inter Reef LTD (doing business as Profitable Sunrise) as respondents, amid allegations by the Securities Division of the office of North Carolina Secretary of State Elaine Marshall that Profitable Sunrise is selling unregistered securities as investment contracts.

    Profitable Sunrise lists a business address in the United Kingdom. Regardless, the enterprise is soliciting funds to be sent to Raiffeisenbank AS in the Czech Republic, according to North Carolina investigators. An entity known as Melland Company SRO was listed in Profitable Sunrise wiring instructions as the beneficiary, according to the order.

    A credit union used by a North Carolina-based Profitable Sunrise investor blocked at least one transaction directed toward the Czech bank, citing suspicions of fraud, according to the order.

    Marshall’s investigators noted that the Profitable Sunrise investor believed that the”Long Haul” plan would pay “interest of 2.7% daily, compounded at 100%, for 240 days.”

    Other Profitable Sunrise plans also promised high interest rates in compressed time frames, reaching for sums of between $10 and $2,500 and advertising interest rates of between 1.6 percent and 2 percent a day, according to the order.

    Zeek planted the seed that it paid an average of 1.5 percent a day, the SEC said on Aug. 17. On Aug. 4, Zeek claimed on its news site that unspecified “North Carolina credit unions” were creating problems for it.

    Read the North Carolina order against Profitable Sunrise.

    Visit Profitable Sunrise thread on RealScam.com.