SEC

PP Blog Tag archives on references to "SEC."

Sann Rodrigues Released On ‘Conditions’

Sann Rodrigues Released On 'Conditions'

TelexFree and IFreeX promoter Sann Rodrigues has been released on “conditions,” including “the surrender of his passport and the passports belonging to his family members, a $200,000 secured bond, 24-hour electronic monitoring, and home confinement.” A U.S. Magistrate Judge in the District of New Jersey imposed the conditions on Rodrigues, according to a statement today […]

REPORTS: TelexFree Figure Sann Rodrigues Arrested In New Jersey

REPORTS: TelexFree Figure Sann Rodrigues Arrested In New Jersey

BULLETIN: (Updated 9:27 p.m. EDT U.S.A.) TelexFree and iFreeX figure Sann Rodrigues has been arrested in New Jersey, according to the Blog of Joaldro Dalla “Billy” Costa, citing a report on radio station WSRO 650 AM in Framingham, Mass. Billy’s story is in Portuguese. Here is the English translation by Google Translate. Rodrigues — listed […]

Bogus Offer To Take Over Avon Turns SEC Website Into Crime Scene

Bogus Offer To Take Over Avon Turns SEC Website Into Crime Scene

On May 14, someone used the SEC’s EDGAR database to plant a bogus news release that claimed a company known as PTG Capital Partners LTD. had made an offer to buy out Avon Products Inc. for $18.75 a share. As NPR put it on May 15, this was “a huge premium.” DealBook, on May 14, […]

In TelexFree Trustee’s Probe, Advisers Turn To Cross-Border Zeek Case For Guidance

In TelexFree Trustee's Probe, Advisers Turn To Cross-Border Zeek Case For Guidance

Billing records in the TelexFree bankruptcy case show that advisers to court-appointed Trustee Stephen B. Darr held an hour-long teleconference with McGuireWoods, counsel to Zeek Rewards’ receiver Kenneth D. Bell. This appears to mark the first time that Zeek’s name has surfaced in TelexFree-related court matters. The two cross-border MLM/network-marketing fraud schemes allegedly gathered a […]

Zeek Rewards’ Dawn Wright-Olivares Loses ‘Several Motor Vehicles’ To Receiver In Cross-Border Ponzi Case; More Actions Coming Against International ‘Winners’ And Vendors

Zeek Rewards' Dawn Wright-Olivares Loses 'Several Motor Vehicles' To Receiver In Cross-Border Ponzi Case; More Actions Coming Against International 'Winners' And Vendors

More lawsuits against international “winners” in the Zeek Rewards cross-border Ponzi-and pyramid-scheme case are coming, receiver Kenneth D. Bell has advised a federal judge. Bell also signaled to Senior U.S. District Judge Graham C. Mullen that lawsuits may be coming against alleged international Zeek vendors such as Payza and SolidTrustPay, both of which earlier were […]

Was An Unlicensed Money-Services Business In The United States Gathering Funds For The Alleged UFunClub/UToken Ponzi Scheme In Thailand?

Was An Unlicensed Money-Services Business In The United States Gathering Funds For The Alleged UFunClub/UToken Ponzi Scheme In Thailand?

In March 2015, as part of its coverage of the WCM777 cross-border scam operating out of the United States, the PP Blog reported that court-appointed receiver Krista L. Freitag said this in a Feb. 27 court filing (italics added): “Many investors gave cash to the company and to their leaders (or upline sponsors) who then […]

UFUNCLUB: Securities Division ‘Will Look Into The Extent Of A Colorado Connection’

UFUNCLUB: Securities Division 'Will Look Into The Extent Of A Colorado Connection'

UPDATED 10:52 A.M. EDT U.S.A. The Colorado Division of Securities said it “will look into the extent” of promotional ties the UFunClub “program” now under investigation in Thailand may have in the state. Whether other U.S. states would follow Colorado’s lead was not immediately clear. Earlier cross-border MLM/network-marketing schemes such as Profitable Sunrise and WCM777 […]

COLORADO: ‘Achieve Community’ Subject Of ‘Order To Show Cause’

COLORADO: 'Achieve Community' Subject Of 'Order To Show Cause'

UPDATED 6:17 A.M. EDT APRIL 21 U.S.A. The Colorado Division of Securities has directed an “Order to Show Cause” to “Achieve Community,” alleged in February 2015 by the U.S. Securities and Exchange Commission to be a combined Ponzi- and pyramid scheme that gathered at least $3.8 million. Colorado’s order cites a “Division Case No.” of […]

EDITORIAL: SEC Announced TelexFree Prosecution 1 Year Ago Today, But Many MLMers Have Missed Or Ignored The Lessons

EDITORIAL: SEC Announced TelexFree Prosecution 1 Year Ago Today, But Many MLMers Have Missed Or Ignored The Lessons

UPDATED 7:10 A.M. EDT APRIL 18 U.S.A. A year has passed since the U.S. Securities and Exchange Commission announced the prosecution of TelexFree. Here’s the lede from the PP Blog’s story on April 17, 2014: The U.S. Securities and Exchange Commission (SEC) has filed charges against the alleged TelexFree pyramid scheme and a federal judge […]

After Seeing Photos Of Its Players On ‘GooBets,’ National Basketball Association To Turn Matter Over To ‘Legal Department’

After Seeing Photos Of Its Players On 'GooBets,' National Basketball Association To Turn Matter Over To 'Legal Department'

As the PP Blog reported yesterday, photos of National Basketball Association players and team jerseys are appearing on the .com (https://www) website of “GooBets,” a purported betting entity in which recruits are being told “Everybody Makes 25% to 31% Per Week. Period!!!” The NBA said today that the matter had been forwarded to “our Legal […]

URGENT >> BULLETIN >> MOVING: Investment Scam Targeted Military Personnel At Fort Hood In Texas, SEC Says

URGENT >> BULLETIN >> MOVING: Investment Scam Targeted Military Personnel At Fort Hood In Texas, SEC Says

URGENT >> BULLETIN >> MOVING: (Updated 9:05 a.m. EDT April 15 U.S.A.) An investment scam known as LB Stocks and Trades Advice LLC was targeted at military personnel at Fort Hood in Texas and perhaps other installations, the SEC has alleged. Charged in the scheme were the company and alleged operator Leroy Brown Jr., 32, […]