Rex Venture Group

UPDATED 11:45 P.M. EDT U.S.A. David Ian MacGregor Fraser, a New Zealand resident who used the handle “sovlife” and is challenging a U.S. court’s jurisdiction over him in Zeek Rewards’ clawback actions, enrolled 96 paying members — 80 of whom were “victims,” according to court-appointed receiver Kenneth D. Bell. Those 80 victims lost a total […]

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 […]

BULLETIN: (Updated 11:11 p.m. ET U.S.A.) Senior U.S. District Judge Graham C. Mullen has certified a class of more than 9,000 alleged “winners” of more than $1,000 in the Zeek Rewards scheme. Receiver Kenneth D. Bell sued more than 10 named “winners” in February 2014 in a case styled “Kenneth D. Bell v. Todd Disner, […]

UPDATED 8:42 P.M. ET U.S.A. Members of the faith community joining MLM HYIP schemes is a problem. It happened with the $119 million AdSurfDaily Ponzi scheme and the $72 million Legisi scam in 2008, for example. It’s happening currently with the “Achieve Community” scheme. Earlier, members of TelexFree  — an alleged $1.8 billion pyramid scheme […]

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 […]

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 […]

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 […]

UPDATED 8:30 P.M. EDT U.S.A. The SEC this afternoon declined to comment on a confounding claim attributed to Zeek Rewards figure Robert Craddock that Zeek took in $1 billion in 12 months and that the U.S. government should have modeled a “stimulus program” after Zeek instead of shutting it down in 2012. News that Craddock […]

EDITOR’S NOTE: Zeek receiver Kenneth D. Bell has issued the following statement (below). The original is here and is dated July 30, 2014. “RVG” stands for Rex Venture Group, the operator of Zeek. Zeek is alleged to be a Ponzi- and pyramid scheme that gathered on the order of $850 million. The receiver’s statement addresses […]

BULLETIN: (2nd Update 8:29 p.m. EDT U.S.A.) Three individuals alleged to be key insiders of the Zeek Rewards Ponzi- and pyramid scheme have agreed to a $600 million consent judgment with the court-appointed receiver. Receiver Kenneth D. Bell sued several alleged insiders, including Zeek operator Paul R. Burks, former COO Dawn Wright-Olivares and programmer Daniel […]

Zeek Rewards “winner” Todd Disner owes the receivership estate $2,079,757.88, according to a motion asking the court clerk to enter a default judgment. Receiver Kenneth D. Bell filed for the judgment July 9 in federal court for the Western District of North Carolina, seeking not only Disner’s alleged Zeek haul of $1,800,037.06, but also interest […]