Judge Orders More Than $22.8 Million In Penalties, Restitution For Trader’s International Return Network (TIRN); ‘Program’ Was Pitched On Ponzi Boards
David Merrick, the operator of Trader’s International Return Network (TIRN) fraud scheme, already is serving a TIRN-related, 97-month prison sentence for conspiracy to commit wire fraud, money laundering, and securities fraud, plus one count of money laundering.
And now a federal judge has imposed addition sanctions, ordering Merrick and TIRN — a presence on Ponzi boards such as MoneyMakerGroup — to pay more than $22.8 million in civil penalties and restitution.
One September 2008 post on MoneyMakerGroup declares this: “If you send money to TIRN using SolidTrustPay you will recive [sic] money on your account in a couple of hours!”
The CFTC charged Merrick and TIRN civilly in October 2009. Though a onetime resident of Apopka, Fla, Merrick, 65, is serving his prison sentence in Minnesota, according to federal records.
TIRN purported to operate from Panama as a “private investment club,” according to the CFTC.
“TIRN has been soliciting U.S. residents, and directing them to deposit their funds in U.S. bank accounts,” the CFTC said in 2009.
SolidTrustPay was among the financial vendors for Zeek Rewards, which also was promoted on the Ponzi forums. In August 2012, the SEC called Zeek a $600 million Ponzi- and pyramid fraud.
when he will return the money to those affected by the scam mytirn
If anyone hears or knows of a way to get restitution from this scum bag let me know. The SEC already has my information and proof I was a victim.