SEC

PP Blog Tag archives on references to "SEC."

DEVELOPING STORY: The TelexFree Rabbit Hole, Exposed

DEVELOPING STORY: The TelexFree Rabbit Hole, Exposed

UPDATED 11:16 P.M. EDT U.S.A. We now may have an answer to some or all of these questions: What happens when you’re Massachusetts-based TelexFree — and apparently so out of touch that Sann Rodrigues, a former SEC defendant in a pyramid-scheme and affinity-fraud case, becomes one of the most recognizable public faces of your company […]

URGENT >> BULLETIN >> MOVING: TelexFree Trustee Says He ‘Has No Intention Of Reorganizing Or Reactivating Their Businesses’

URGENT >> BULLETIN >> MOVING: TelexFree Trustee Says He 'Has No Intention Of Reorganizing Or Reactivating Their Businesses'

URGENT >> BULLETIN >> MOVING: (1st Update 8:50 P.M. EDT U.S.A.) The TelexFree trustee said in court filings today in the SEC’s civil case against the firm that he has “no intention of reorganizing or reactivating their businesses” and — based on information and belief  — “they were in fact engaged in a Ponzi or […]

SEC Halts Trading Of Cynk Technology Corp. Stock, A Mysterious And Sudden Darling With Belize Address

SEC Halts Trading Of Cynk Technology Corp. Stock, A Mysterious And Sudden Darling With Belize Address

It’s one of those things almost too bizarre to contemplate: The stock price of Cynk Technology Corp. increased tens of thousands of percent over a period of days — except the Belize company supposedly in the social-networking business reportedly has no revenue and no assets. The SEC halted trading in Cynk stock this morning, citing […]

Zeek Receiver Seeks Nearly $2.1 Million From Alleged Winner And Former AdSurfDaily Ponzi Pitchman Todd Disner; Records Show Zeek Paid Him More Than $7,000 On Same Day He Sued United States For Alleged Misdeeds In ASD Case

Zeek Receiver Seeks Nearly $2.1 Million From Alleged Winner And Former AdSurfDaily Ponzi Pitchman Todd Disner; Records Show Zeek Paid Him More Than $7,000 On Same Day He Sued United States For Alleged Misdeeds In ASD Case

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 […]

RECOMMENDED READING: 50,000 Spaniards Reportedly Plowed Money Into TelexFree

RECOMMENDED READING: 50,000 Spaniards Reportedly Plowed Money Into TelexFree

In February 2014, the PP Blog reported that TelexFree had planned a purported “international convention” in Spain in early March. The pitch for the convention, hosted in Madrid, was voiced by Sann Rogrigues, whom the U.S. Securities and Exchange Commission successfully had sued in 2006 amid allegations he was operating a pyramid scheme and engaging […]

EDITORIAL: On The War In Zeekland And HYIP Rabbit Holes

EDITORIAL: On The War In Zeekland And HYIP Rabbit Holes

EDITOR’S NOTE: On Feb. 5, 2014, Zeek figures and alleged insiders Dawn Wright-Olivares and Daniel Olivares pleaded guilty to federal crimes. Wright-Olivares pleaded guilty to investment-fraud conspiracy and tax-fraud conspiracy. Olivares pleaded guilty to investment-fraud conspiracy. Federal prosecutors in the Western District of North Carolina are maintaining an information site here. Kenneth D. Bell, the […]

Plaintiff To TelexFree Crew: You’re All Crooks And Racketeers — And Carlos Costa Is The ‘Mastermind’

Plaintiff To TelexFree Crew: You're All Crooks And Racketeers -- And Carlos Costa Is The 'Mastermind'

UPDATED 10:48 P.M. EDT U.S.A. A plaintiff bringing a prospective class-action lawsuit in Massachusetts federal court has accused 10 TelexFree figures of committing crimes and — as a group — committing racketeering violations through an “association-in-fact enterprise.” Unlike other prospective TelexFree-related class-actions, this one names neither attorneys nor banks nor TelexFree itself defendants. Rather, it […]

MLM Attorney Gerald Nehra Now Lawyered Up In TelexFree Bankruptcy Case

MLM Attorney Gerald Nehra Now Lawyered Up In TelexFree Bankruptcy Case

MLM attorney Gerald Nehra, his law partner Richard Waak and their law firm are now lawyered up in the TelexFree bankruptcy case. Groups of TelexFree members have sued them in bankruptcy court, alleging violations of the federal racketeering (RICO) statute and violations of federal securities laws. TelexFree filed for Chapter 11 bankruptcy protection on a […]

MONTANA: Former Zeek Pitchman Who Also Pushed TelexFree Now Required To Give State Notice Of MLM Activities

MONTANA: Former Zeek Pitchman Who Also Pushed TelexFree Now Required To Give State Notice Of MLM Activities

A former pitchman for the Zeek Rewards MLM Ponzi- and pyramid scheme also acknowledged he participated in TelexFree, the state of Montana said in a consent agreement and final order. James D. Helgeson was fined $5,000 by the office of Monica Lindeen, Montana’s Commissioner of Securities and Insurance (CSI) and state auditor. The case demonstrates […]

BULLETIN: SEC Accuses Faith Sloan Of Violating Asset Freeze In TelexFree Case By Sending Thousands To ‘Changes Worldwide LLC,’ Company That Lists Zeek Figure Robert Craddock As Copyright Enforcer

BULLETIN: SEC Accuses Faith Sloan Of Violating Asset Freeze In TelexFree Case By Sending Thousands To 'Changes Worldwide LLC,' Company That Lists Zeek Figure Robert Craddock As Copyright Enforcer

BULLETIN: (4th Update 10:01 a.m. EDT June 13 U.S.A.) The SEC has accused Faith Sloan of violating the asset freeze imposed against her in the TelexFree pyramid- and Ponzi case by sending nearly $15,000 to Changes Worldwide LLC for the purchase of “business promo packs.” On its website, Changes Worldwide identifies Robert Craddock as its […]

FAITH SLOAN: Blame TelexFree, Merrill, Wanzeler, Labriola And Nehra, Not Me

FAITH SLOAN: Blame TelexFree, Merrill, Wanzeler, Labriola And Nehra, Not Me

UPDATED 8:55 P.M. EDT U.S.A. Veteran HYIP huckster Faith Sloan told a federal judge presiding over the SEC’s TelexFree case that she is a victim of the company and was duped by TelexFree executives James Merrill, Carlos Wanzeler and Steve Labriola. And, the former Noobing, Zeek Rewards and Profitable Sunrise pitchwoman asserted, she also was […]