Day: May 17, 2011
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URGENT >> BULLETIN >> MOVING: FTC Goes To Federal Court To Block Alleged $467 Million Scam Operating Globally Online; International Cooperation Cited In Exposing Colossal Fraud Caper, Officials Say
BULLETIN: UPDATED 3:50 P.M. EDT (U.S.A.) The FTC has gone to federal court to halt what it described as a $467 million, online fraud scheme operating across international borders. The scheme was exposed through international cooperation among the FTC, the Canada Competition Bureau, Service Alberta, the Royal Canadian Mounted Police, the Alberta Partnership Against Cross…
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As Promos On Ponzi Forums Continue And Members Claim IRS Recognition, Club Asteria Acknowledges That Its Members Used PayPal ‘To Cheat Fellow Members’; Says Fraudsters Were Turned Over To Unidentified ‘Authorities’; Existing Members Of Virginia-Based Firm Told To Use Offshore Processors
In June 2010, the U.S. Department of Justice used its Blog to warn about the emerging threat of “mass marketing fraud,” specifically citing the criminal allegations of a $70 million Ponzi fraud against Nicholas Smirnow of Pathway To Prosperity (P2P). P2P was promoted on the TalkGold and MoneyMakerGroup Ponzi forums. A little over a month…