SEC

PP Blog Tag archives on references to "SEC."

URGENT >> BULLETIN >> MOVING: SEC Enters TelexFree Nevada Bankruptcy Fray — Plus Confirmation That U.S. Attorney’s Office Part Of Probe

URGENT >> BULLETIN >> MOVING: SEC Enters TelexFree Nevada Bankruptcy Fray -- Plus Confirmation That U.S. Attorney's Office Part Of Probe

URGENT >> BULLETIN >> MOVING: (Updated 6:24 P.M. EDT U.S.A.) The U.S. Securities and Exchange Commission has entered the TelexFree fray in Nevada Bankruptcy Court and has petitioned the judge to transfer the case to Bankruptcy Court in the Central District of Massachusetts, an area that is a potential TelexFree stronghold. The Central District covers […]

BULLETIN: U.S. Trustee Says ‘Compelling Evidence Of Fraud’ And ‘Reasonable Grounds’ To Believe ‘Criminal Conduct’ Occurred On Road To TelexFree Bankruptcy Filing

BULLETIN: U.S. Trustee Says 'Compelling Evidence Of Fraud' And 'Reasonable Grounds' To Believe 'Criminal Conduct' Occurred On Road To TelexFree Bankruptcy Filing

BULLETIN:  (11th Update 2:35 p.m. EDT U.S.A.) The United States’ trustee who serves the region (Nevada) in which TelexFree’s bankruptcy case was filed on April 13 has alleged there are “reasonable grounds” to believe that “criminal conduct” occurred at TelexFree. Trustee Tracy Hope Davis, who works for a division of the U.S. Department of Justice, […]

Alleged TelexFree MLM Ponzi Scheme May Have Polluted Money Flow To Vendors, Contractors AND The Government At Hundreds Of Thousands Of Contact Points

Alleged TelexFree MLM Ponzi Scheme May Have Polluted Money Flow To Vendors, Contractors AND The Government At Hundreds Of Thousands Of Contact Points

Virtually no one was safe from the TelexFree MLM financial menace, documents suggest. Not even the government. How far and deep did the alleged TelexFree fraud pollution flow? The answer remains unclear a week after Ponzi- and pyramid allegations were filed against the enterprise, but documents suggest pollution at hundreds of thousands of points of […]

BULLETIN: Nevada Attorney General To Intervene In TelexFree Licensing Matters Before The State Public Utilities Commission

BULLETIN: Nevada Attorney General To Intervene In TelexFree Licensing Matters Before The State Public Utilities Commission

BULLETIN: (Updated 8:56 p.m. EDT U.S.A.) The Consumer Protection Bureau of Nevada Attorney General Catherine Cortez Masto says in regulatory filings that it intends to intervene in TelexFree-related licensing matters before the Nevada Public Utilities Commission. TelexFree, accused of conducting a Ponzi scheme that gathered $1.2 billion, has Nevada telecom applications pending for TelexFree LLC […]

Now, Zeek- And AdSurfDaily-Like Petitions For TelexFree; Bankruptcy Judge Asked To ‘Bail Out’ MLM ‘Program’

Now, Zeek- And AdSurfDaily-Like Petitions For TelexFree; Bankruptcy Judge Asked To 'Bail Out' MLM 'Program'

On Monday, the PP Blog reported that TelexFree — through its bankruptcy filing Sunday in Nevada — was seeking to reject contracts with its promoters. Yesterday, Jordan Maglich of PonziTracker.com published a lengthy article under this headline: “TelexFree Asks Bankruptcy Court To Eliminate Promoter Obligations.” In between, the Massachusetts Securities Division described TelexFree as a […]

TelexFree, Allegedly One Of The Largest Ponzi Schemes In History, Says State And Federal Actions Against It ‘Precipitous And Unnecessary’

TelexFree, Allegedly One Of The Largest Ponzi Schemes In History, Says State And Federal Actions Against It 'Precipitous And Unnecessary'

Effectively having been accused of rivaling Scott Rothstein’s epic Ponzi scheme, TelexFree issued a statement this afternoon that calls the government actions against it “precipitous and unnecessary.” Rothstein’s Florida-based Ponzi scheme collapsed in 2009. It gathered about $1.2 billion before toppling, and is one of the largest Ponzi schemes in U.S. history. On Tuesday, Massachusetts […]

TelexFree ‘Top Story’ In Department Of Homeland Security’s Daily Infrastructure Report

TelexFree 'Top Story' In Department Of Homeland Security's Daily Infrastructure Report

TelexFree — specifically the Ponzi- and pyramid complaint filed against it Tuesday by Massachusetts Commonwealth Secretary William Galvin — was the top story yesterday in the U.S. Department of Homeland Security’s daily infrastructure report. DHS was formed after the terrorist attacks of Sept. 11, 2001. Galvin alleged that TelexFree had gathered more than $1.2 billion […]

URGENT >> BULLETIN >> MOVING: SEC Charges TelexFree, Executives And Key Promoters — Including Sann Rodrigues And Faith Sloan

URGENT >> BULLETIN >> MOVING: SEC Charges TelexFree, Executives And Key Promoters -- Including Sann Rodrigues And Faith Sloan

URGENT >> BULLETIN >> MOVING: (19th Update 5:45 p.m. ET U.S.A.) The U.S. Securities and Exchange Commission (SEC) has filed charges against the alleged TelexFree pyramid scheme and a federal judge has granted an asset freeze. TelexFree was a sham to mask an investment scheme known as “AdCentral” in which affiliates were told they could […]

BULLETIN: WCM777 Receiver Puts End To ‘New Multi-Level Marketing Scheme Which Was Being Developed’ In California Warehouse And ‘Involved Numerous Of The Same Defendants And Personnel’; Receiver Also Seeks Freeze Of Attorney’s Bank Accounts — Plus, A Ponzi Fish Story

BULLETIN: WCM777 Receiver Puts End To 'New Multi-Level Marketing Scheme Which Was Being Developed' In California Warehouse And 'Involved Numerous Of The Same Defendants And Personnel'; Receiver Also Seeks Freeze Of Attorney's Bank Accounts -- Plus, A Ponzi Fish Story

BULLETIN: (UPDATED 11:38 P.M. EDT U.S.A.) The court-appointed receiver in the WCM777 Ponzi- and pyramid case says in court filings that she has stopped a “new multi-level marketing scheme” that had been under development by WCM777 in a warehouse in El Monte, Calif. WCM777, alleged by the SEC to have gathered about $65 million, purportedly […]

SEC: Yet Another Social Media Fraud Scheme; Hawaii Woman Charged

SEC: Yet Another Social Media Fraud Scheme; Hawaii Woman Charged

On the same day the SEC announced a civil and criminal prosecution of alleged Florida-based scammers using YouTube to fleece the masses in a Ponzi scheme, it announced it had charged a Honolulu woman who allegedly engineered two fraud schemes through promotions on her own website and Twitter, Facebook and Skype. Keiko Kawamura’s scams featured […]

BULLETIN: In New ‘Advertising’ Ponzi-Scheme Takedown, SEC Points To YouTube Video Allegedly Used By Scammers To Drive Sales — And Feds File Criminal Charges

BULLETIN: In New 'Advertising' Ponzi-Scheme Takedown, SEC Points To YouTube Video Allegedly Used By Scammers To Drive Sales -- And Feds File Criminal Charges

Updated 2:45 P.M. EDT (April 16, 2014) The SEC has sued the operators of an alleged Ponzi scheme in Florida — and federal prosecutors have filed criminal charges. In its announcement of the prosecution against Joseph Signore of West Palm Beach and Paul L. Schumack II of Pompano Beach, the SEC provided a link to […]