Rex Venture Group LLC

PP Blog Tag archives on references to "Rex Venture Group LLC."

LETTER TO READERS: Our Choice For The Most Important PP Blog Post Of 2012

LETTER TO READERS: Our Choice For The Most Important PP Blog Post Of 2012

Dear Readers, The PP Blog’s choice for the “Most Important” story to appear on the Blog in 2012 is this one, dated July 28: “Site Critical Of Zeek Goes Missing After HubPages Receives Trademark ‘Infringement’ Complaint Attributed To Rex Venture Group LLC — But North Carolina-Based Rex Not Listed As Trademark Owner; Florida Firm That […]

Conference Call By Zeek Receiver Under Way [Call Ended At 6:03 P.M.]

EDITOR’S NOTE: This post was updated at 2:48 p.m. on Dec. 20 to include this link to a recording of the receiver’s Dec. 17 call. The information below reflects the PP Blog’s original notes from the call on Dec. 17 . . . UPDATED 7:27 A.M. (DEC 18, U.S.A.) A conference call by Kenneth D. […]

BULLETIN: Zeek Receiver Says ‘Large Sums . . . May Have Been Transferred By Net Winners To Other Entities In Order To Hide Or Shelter Those Assets’

BULLETIN: Zeek Receiver Says 'Large Sums . . . May Have Been Transferred By Net Winners To Other Entities In Order To Hide Or Shelter Those Assets'

BULLETIN: (UPDATED 2:34 P.M. ET U.S.A.) The court-appointed receiver in the Zeek Rewards Ponzi scheme case has advised a federal judge that he “has obtained information indicating that large sums of Receivership Assets may have been transferred by net winners to other entities in order to hide or shelter those assets.” The dramatic assertion by […]

Nearly $2 Million Allegedly At Stake For 3 Arizona Zeek Affiliates Who Received Subpoenas, Filings Say

Nearly $2 Million Allegedly At Stake For 3 Arizona Zeek Affiliates Who Received Subpoenas, Filings Say

“[Zeek operator Paul] Burks is solely responsible for determining the amount of ‘net profits’ to share in the Retail Profit Pool . . . Defendants represent that daily awards are calculated by dividing ‘up to 50%’ of daily net profits by the number of Profit Points outstanding among all Qualified Affiliates. This calculation results in […]

UPDATE: See Copy Of Letter From Zeek Receiver To Northern California Federal Court In Advance Of Possible Clawback Actions

UPDATE: See Copy Of Letter From Zeek Receiver To Northern California Federal Court In Advance Of Possible Clawback Actions

Below is a copy of a letter sent by counsel for the court-appointed receiver in the Zeek Ponzi scheme case to U.S. District Court for the Northern District of California. The PP Blog obtained a PDF of the letter from a publicly available source and took a screen shot of the PDF. The redactions were […]

The Incredible Reach Of Zeek: Receiver Files In Guam

The Incredible Reach Of Zeek: Receiver Files In Guam

In yet another indicator of the incredible reach of the alleged Zeek Rewards Ponzi scheme, the court-appointed receiver has filed court paperwork in Guam. Guam is a U.S. island territory “approximately 3,300 miles West of Hawaii, and 1,500 miles east of the Philippines and south of Japan,” according to the website of Naval Base Guam. […]

UPDATE: Receiver Sets Stage For Clawbacks In Zeek Ponzi Scheme Case: Filings Provide Clues About U.S. States In Which Fraudulent Transfers Allegedly Occurred

UPDATE: Receiver Sets Stage For Clawbacks In Zeek Ponzi Scheme Case: Filings Provide Clues About U.S. States In Which Fraudulent Transfers Allegedly Occurred

UPDATED 11:02 P.M. ET (U.S.A.) PP Blog reader “Tony” posted comments this morning about cases involving Rex Venture Group LLC popping up in federal courts beyond the Western District of North Carolina, home base of the SEC’s Zeek Ponzi scheme case and the court-appointed receiver. Rex Venture is the parent company of North Carolina-based Zeek. […]

BULLETIN: Proposed Class-Action Against Zeek In Louisiana Transferred To North Carolina

BULLETIN: Proposed Class-Action Against Zeek In Louisiana Transferred To North Carolina

BULLETIN: A federal judge has transferred from the Eastern District of Louisiana to the Western District of North Carolina a proposed class-action lawsuit against Rex Venture Group LLC, Zeek Rewards and Paul R. Burks. The ruling by U.S. District Judge Carl J. Barbier  in New Orleans likely paves the way for Senior U.S. District Judge […]

Nathaniel Woods Plants Seed That Zeek Receiver Issued ‘Bogus Subpoena’ And Committed Felony; Claims Reminiscent Of Assertions Made In AdSurfDaily Ponzi Case

Nathaniel Woods Plants Seed That Zeek Receiver Issued 'Bogus Subpoena' And Committed Felony; Claims Reminiscent Of Assertions Made In AdSurfDaily Ponzi Case

UPDATED 5 P.M. ET (U.S.A.) Various members of the Florida-based AdSurfDaily 1-percent-a-day Ponzi scheme advanced various theories that judges, prosecutors and investigators committed various felonies during the course of the probe and follow-up actions in court. The claims were absurd on their face and, when the arguments were rejected, they were replaced by conspiracy theories. […]

STUNNING: Nearly 1 BILLION Zeek Transactions Over 18 Months, Receiver Says; ‘Sheer Quantity Of Data’ And ‘Inadequate And Incomplete’ Records Necessitate Delay In Filing Of Liquidation Plan

STUNNING: Nearly 1 BILLION Zeek Transactions Over 18 Months, Receiver Says; 'Sheer Quantity Of Data' And 'Inadequate And Incomplete' Records Necessitate Delay In Filing Of Liquidation Plan

EDITOR’S NOTE: It’s this simple: Ponzi = Pain — and even “ordinary” Ponzi schemes often result in extraordinary paper chases. The Zeek case may be setting a new standard for the extraordinary.   The receiver in the Zeek Rewards Ponzi scheme case informed a federal judge today that “the Receivership Team is still in the process […]

BULLETIN: First Round Consisting Of 1,200 Subpoenas Will Go Out This Week To Zeek ‘Affiliates Who Profited Most,’ Receiver Says; More Subpoenas Will Follow; Winners Also Will Receive ‘Letter Offering To Negotiate Voluntary Surrender Of Profits’

BULLETIN: First Round Consisting Of 1,200 Subpoenas Will Go Out This Week To Zeek 'Affiliates Who Profited Most,' Receiver Says; More Subpoenas Will Follow; Winners Also Will Receive 'Letter Offering To Negotiate Voluntary Surrender Of Profits'

UPDATED: 7:08 P.M. EDT (U.S.A.) The court-appointed receiver in the Zeek Rewards Ponzi scheme case has announced that about 1,200 subpoenas will go out this week to “affiliates who profited most from ZeekRewards.” It’s “victims’ money, really,” receiver Kenneth D. Bell said in a letter posted on the receivership website. “The subpoenas ask for financial […]