SEC

PP Blog Tag archives on references to "SEC."

Alleged Zeek ‘Winner’ Repeatedly Invokes Fifth Amendment In Clawback Case

Alleged Zeek 'Winner' Repeatedly Invokes Fifth Amendment In Clawback Case

UPDATED 3:07 P.M. EDT U.S.A. Darren Miller, an alleged winner of more than $1.635 million in Zeek Rewards and one of the lead defendants in a civil class-action clawback lawsuit filed by Zeek receiver Kenneth D. Bell, repeatedly has invoked his Fifth Amendment right not to incriminate himself, according to new court filings by Miller. In […]

DEVELOPING STORY: Phil Ming Xu Of WCM777 May Be Under Arrest In China

DEVELOPING STORY: Phil Ming Xu Of WCM777 May Be Under Arrest In China

UPDATED 3:11 P.M. EDT U.S.A. A report dated today at ShanghaiDaily.com says an individual “surnamed Xu” and associated with “World Capital Market Inc.” is “now in custody” after a police action against a “pyramid scheme” in China. The PP Blog has contacted the U.S. Securities and Exchange Commission to determine if the person reportedly under […]

After FBI Probe, Ju Ding Inc. (Juding) Exposed As Ponzi, Feds Say; Wenxing Huang Arrested

After FBI Probe, Ju Ding Inc. (Juding) Exposed As Ponzi, Feds Say; Wenxing Huang Arrested

A fraudster who used “fancy cars and parties” to dupe investors has been arrested after an FBI investigation, said Eileen M. Decker, the top federal prosecutor in the Central District of California. Wenxing Huang, 33, of San Gabriel, has been charged with money-laundering and wire fraud in an alleged Ponzi scheme that gathered at least […]

TelexFree’s Sann Rodrigues Pushing ‘WowApp’ For ‘Every Day Gains,’ Promo Says

TelexFree's Sann Rodrigues Pushing 'WowApp' For 'Every Day Gains,' Promo Says

2ND UPDATE 2:22 P.M. EDT U.S.A. “WowApp,” which has a Facebook page that thanks the “deaf community” for joining, now is being pushed by TelexFree figure and alleged immigration fraudster Sann Rodrigues, according to a web promo. WowApp says it is a communications platform. It further says it is based in Hong Kong and urges members […]

CKB168 CASE: 2 Promoters Plead Guilty To Criminal Counts; 3 Others Face Trial

CKB168 CASE: 2 Promoters Plead Guilty To Criminal Counts; 3 Others Face Trial

Two U.S.-based promoters of the noxious CKB168 cross-border pyramid scheme aimed at Chinese-Americans have pleaded guilty to wire-fraud, the office of U.S. Attorney Eileen M. Decker of the Central District of California said. The SEC sued Cheong Wha “Heywood” Chang, 48, and his wife, Toni Chen, 47, in 2013. Federal prosecutors later charged them criminally, […]

Faith Sloan’s Alleged TelexFree Haul: $710,319

Faith Sloan's Alleged TelexFree Haul: $710,319

UPDATED 3:32 P.M. EDT U.S.A. Faith Sloan received $710,319 from the TelexFree Ponzi- and pyramid scheme, according to filings by TelexFree bankruptcy Trustee Stephen B. Darr. Sloan, whose address was listed as Virginia Beach, Va., is a longtime Illinois HYIP huckster on Ponzi boards and social media. She and three other TelexFree promoters were charged in […]

MyAdvertisingPays Incorporated In Jurisdiction Mentioned Prominently In ‘Panama Papers’; Its Payment Vendor Lists Individuals Referenced In At Least 2 Spectacular Fraud Schemes

MyAdvertisingPays Incorporated In Jurisdiction Mentioned Prominently In 'Panama Papers'; Its Payment Vendor Lists Individuals Referenced In At Least 2 Spectacular Fraud Schemes

8TH UPDATE 11:53 P.M. EDT U.S.A. Before we get to the news that a federal judge took only a day to dismiss an April 6 libel lawsuit filed by the MyAdvertisingPays (MAPS) scheme and operator Michael E. Deese against the TaraTalks Blog, we’ll note that the 16-page complaint confirms that MAPS is incorporated in Anguilla. Anguilla is […]

Tax Problems Mount For TelexFree In Brazil, As Criminal Investigations Continue

Tax Problems Mount For TelexFree In Brazil, As Criminal Investigations Continue

It’s easy enough to forget that TelexFree and its principals have epic legal problems outside the United States, where the company has been found a Ponzi- and pyramid scheme and alleged operators James Merrill and Carlos Wanzeler are under criminal indictment. History shows, however, that the problems began in the Brazilian state of Acre in […]

SEC, Lawyer Clash Over Representation Of TelexFree Figure Sann Rodrigues; Lamborghini Once Owned By Accused DFRF Enterprises’ Ponzi Schemer Daniel Fernandes Rojo Filho Was Used To Pay Sann’s Legal Fees

SEC, Lawyer Clash Over Representation Of TelexFree Figure Sann Rodrigues; Lamborghini Once Owned By Accused DFRF Enterprises' Ponzi Schemer Daniel Fernandes Rojo Filho Was Used To Pay Sann's Legal Fees

3RD UPDATE 9:36 AM EDT MARCH 17 U.S.A. This one features highly questionable dealings between an alleged MLM securities fraudster (TelexFree’s Sann Rodrigues) and an alleged Ponzi schemer (Daniel Fernandes Rojo Filho of DFRF Enterprises). Filho also has been linked to the alleged 2010 Finanzas Forex/Evolution Market Group Ponzi scheme, a Ponzi-board “program” that allegedly had ties to the narcotics trade. Suffice to […]

BULLETIN: Darryle Douglas, Alleged Zeek Insider, Arrested

BULLETIN: (4th update 9:11 p.m. ET U.S.A.) Alleged Zeek Rewards’ insider Darryle Douglas has been arrested in Riverside, Calif. Court filings docketed March 7 in the SEC’s civil case against Zeek say Douglas, whose age was not listed, was arrested March 2 by the U.S. Marshals Service. On Dec. 10, 2015, Senior U.S. District Judge Graham C. […]

SEC: Binary Options Case Triggers Investor Alert

SEC: Binary Options Case Triggers Investor Alert

Is there a double whammy in your MLM future — first being ripped off in a binary-options “program,” only to be ripped off a second time by scammers posing as government agencies and offering purported refunds for a fee? Naturally some MLMers have added binary options to their offerings, with some incredible solicitations and tales being told […]