PatrickPretty.com

Month: March 2013

  • BULLETIN: Kentucky Issues Emergency Cease-And-Desist Order To Profitable Sunrise; Order Identifies Possible Pitchwoman Issuing News Releases That Include Link To ‘HYIP Investment Calculator’; [UPDATE: Ohio, Other States Issue Warnings]

    breakingnews72EDITOR’S NOTE: Ohio now has issued a warning on Profitable Sunrise, saying 15 other states also have issued warnings. Information from Ohio and other states has been added to the Comments thread below . . .

    BULLETIN: (UPDATED 2:01 P.M. EDT (U.S.A.)

    The state of Kentucky has issued an emergency cease-and-desist order to the Profitable Sunrise HYIP “program,” amid allegations that the purported “opportunity” is selling unregistered securities to residents of the state and that residents themselves — in turn — are doing the same thing to earn commissions.

    Profitable Sunrise is trading on Bible prose, according to the Kentucky order. And some residents of the state appear to be offering the “program” to family members and perhaps even investing in the names of loved ones.

    The Profitable Sunrise website is offline this morning. There are Ponzi-forum reports that the “program” is changing servers.

    Kentucky’s order is directed at purported Profitable Sunrise operators Roman Novak and Radoslav Novak. The company lists an address in the United Kingdom and does business as Inter Reef LTD.

    Kentucky’s order was issued by the Department of Financial Institutions. It is dated today. The order also references Nicole Sanders of Louisville, describing her as a possible Profitable Sunrise pitchwoman operating in the state by issuing press releases through a social-networking site. One release viewed by the PP Blog displayed a link to a purported “HYIP Investment Calculator.”

    It is somewhat common for HYIP promoters to try to woo prospects with earnings projections. (It happened in Zeek Rewards and AdSurfDaily, for just two examples. ASD was a $119 million Ponzi scheme. Zeek was accused by the SEC in August 2012 of operating a $600 million Ponzi- and pyramid scheme.)

    Sanders may be a purported “private group leader” for Profitable Sunrise, according to the Kentucky order.

    One of the claims in a news release attributed to Sanders is this (italics added):

    Example: If I invest $200.00, over 170 days of my initial investment date without taking $$$$ out (meaning compound on), my investment matures and my PROFIT will be $7,439.66.

    Kentucky now has joined North Carolina, which earlier issued a cease-and-desist order to Profitable Sunrise. Alabama has issued a warning about the “program.” So have the Canadian provinces of Alberta, Ontario, British Columbia and Quebec.

    Britain’s Financial Services Authority and New Zealand’s Financial Markets Authority also have issued warnings.

    Link to emergency Kentucky order, dated March 14, 2013.

  • New Zealand Calls Profitable Sunrise ‘Illegal,’ Issues Warning, Cites YouTube Promos — And Suggests U.S.-Based Recruitment Arm May Be Part Of Scam

    recommendedreading1The Financial Markets Authority of New Zealand (FMA) has joined regulators in the United States, Canada and the United Kingdom in issuing a warning on the Profitable Sunrise HYIP “program.” New Zealand’s warning also extends to NJF Global Group, which appears to be a Profitable Sunrise recruitment organization operating from the United States. (More below.)

    FMA’s announcement described Profitable Sunrise as “illegal,” saying the “program” also is known as ProSun and is being advertised on YouTube by an individual named Robert “Bob” Hughes. The “NJF” initials appear to stand for Profitable Sunrise promoter Nanci Jo Frazer of Ohio. The NJF Global Group now appears to be calling itself “The Global Impact Resource Alliance Group.”

    North Carolina regulators said late last month that Profitable Sunrise listed a business address in the United Kingdom and was asking that money be sent by wire to the Czech Republic. Warnings subsequently were issued by the state of Alabama, the Financial Services Authority of the United Kingdom and the Canadian provinces of Alberta, Ontario, British Columbia and Quebec.

    At least some of the Profitable Sunrise videos attributed to Hughes appear to have been removed from YouTube or to have been blocked from public access. Google cache (from Feb. 10, 2013) shows that the videos also touted NJF Global Group and positioned Profitable Sunrise as a better option than “Banners Broker.” One of the videos was titled “Income From Profitable Sunrise Blows Away What You Can Make With Banners Broker.” Another was titled “Forget Banners Broker & Make Real Money With Profitable Sunrise & NJF Global Group.”

    Like Profitable Sunrise, Banners Broker also is being promoted on well-known Ponzi scheme forums such as TalkGold and MoneyMakerGroup.

    There were reports today that Banners Broker has been stripped of its ability to distribute money via MasterCard debit cards. Other Ponzi-board “programs,” including Imperia Invest IBC in 2010, have met similar fates. Imperia was met with a cease-and-desist order from Visa. An action by the SEC to halt Imperia’s operations followed.

    Other Profitable Sunrise videos attributed to Hughes made headline appeals to populations in entire countries and had titles such as:

    • “Our NJF Global Team In Profitable Sunrise Invites Those In New Zealand To Join Us”
    • “Our Private NJF Global Team In Profitable Sunrise Is Inviting Those In Korea To Join Us”
    • “Our NJF Global Group In Profitable Sunrise Invites Those From India To Join Our Top Team”
    • “NJF Global Group / Profitable Sunrise Invites Those In The Philippines To Join Our Private Team”
    • “NJF Global Group / Profitable Sunrise Invites Those In Thailand To Join Our Amazing Team”
    • “Our Profitable Sunrise / NJF Global Group Invites Those From Germany To Join Our Team”
    • “Our NJF Global Group In Profitable Sunrise Invites Those In China To Join Our Amazing Team”
    • “Our NJF Global Group In Profitable Sunrise Invites Those In Australia To Join Our Team”
    • “Profitable Sunrise – The 2.7% Daily Long Haul Plan Is Closing Soon”
    • “Profitable Sunrise – How To Move Money From The Private Plan To The Long Haul Plan”
    • “Profitable Sunrise & Our NJF Global Group Really Are Helping People To Retire Early”
    • “The Best Way To Join Profitable Sunrise Is Through Our Private Group – NJF Global Group”

    Here is the New Zealand warning, as published March 11 (italics added):

    Warning: Beware of offerings of securities made by NJF Global Group and Profitable Sunrise

    11 March 2013

    The Financial Markets Authority (FMA) warns the public of an illegal offering of securities by Profitable Sunrise (Prosun) and/or NGF Global Group which has been advertised on ‘youtube’ by Mr Robert(Bob)Hughes, also known as Bob Hughes.

    It is FMA’s understanding that these entities are operating from the UK and the US.

    FMA is concerned that Prosun is illegally offering securities to the public in New Zealand in breach of NZ securities law, and warns New Zealanders not to invest in the above entities.

    If you have invested with Profitable Sunrise or NJF Global Group, FMA would like to hear from you. Please contact our helpline on 0800 434 567.

  • NEW POPE! Francis!

    popelectedA new Pope has been elected. He is Jorge Mario Bergoglio of Argentina and will be known as Francis I.

    Francis is the first Pope from South America.

  • BULLETIN: No Profitable Sunrise For Florida Ponzi Pitchman; Gary D. Martin Sentenced In North Carolina To 10 Years In Federal Prison For ‘Queen Shoals’ Money-Laundering Conspiracy And Ordered To Pay More Than $31 Million In Restitution

    breakingnews72In a development that could give pause to promoters of the purportedly “private” Profitable Sunrise scheme now on the radar of regulators in North America and Europe, a Florida man has been sentenced to 10 years in federal prison for his role in pitching a purported “opportunity” known as Queen Shoals.

    The announcement of the prison sentence of Gary D. Martin, 61, was made by U.S. Attorney Anne M. Tompkins of the Western District of North Carolina. She was joined by Roger A. Coe, acting special agent in charge of the FBI office in Charlotte, and North Carolina Secretary of State Elaine F. Marshall.

    Marshall’s office issued a cease-and-desist order late last month to Profitable Sunrise, a purportedly “private” program. Tompkins’ office, meanwhile, is involved in the probe of the alleged Zeek Rewards Ponzi scheme, which described itself as a “private” program, according to court files.  In August 2012, the SEC said Zeek was selling unregistered securities as investment contracts and had gathered at least $600 million.

    While Profitable Sunrise is alleged by regulators to be offering returns in excess of 300 percent a year, Queen Shoals promised a much lower annualized percentage of between 8 percent and 24 percent.

    The $32.5 million Queen Shoals Ponzi scheme was operated by Sidney Hanson. Martin formed an LLC with a similar name and pitched Queen Shoals from Florida. Federal prosecutors effectively accused him of passing along lies told by Hanson to fleece investors, including senior citizens.

    Chief U.S. District Judge Robert J. Conrad Jr., who ruled in August 2011 that promises of “guaranteed” annual earnings were used by Martin to lure customers into the fraud, described the effect as devastating

    “People in their 60’s, 70’s, 80’s and even 90’s lost everything because Hanson and Martin defrauded them,” prosecutors quoted Conrad as saying.

    And, prosecutors said, Conrad also noted that Martin “went into homes, got people to rely on him and told them things that weren’t true, and based on false representations, many lost their life savings . . . He is seriously culpable.”

    Conrad ordered Martin to pay more than $31.7 million in restitution and to serve two years’ probation upon completion of the prison sentence.

    The Martin case speaks to the issue of how a lack of due diligence on the part of promoters can cause problems if a scheme later turns out to be a scam, perhaps especially if promoters add their own lies to a pitch and recruit other pitchmen.

    From a statement by prosecutors (italics/bolding added):

    Court records show that although Hanson never directly told Martin that Queen Shoals was a Ponzi scheme, Martin induced victims to invest in the Queen Shoals Ponzi scheme through a series of false and fraudulent representations. Specifically, Martin falsely claimed that QSC had over 20 years’ experience in financial services and international finance and that he had a vast background in financial services, including the silver, gold and foreign currency trading markets. In fact, Martin had no such experience, held no professional licenses related to finance or investments and had never engaged in any silver, gold or foreign currency trading.

    According to court documents, Martin, through the QSC web site and other means, also made false claims about QSC’s financial expertise in “Self-Directed IRA Strategies and Fixed Rate Accounts.” Martin held QSC out as “leaders in Professional Private Placement Retirement Planning” and falsely claimed that QSC had a “proven method of diversification [that] spreads the risk nicely for a balanced portfolio,” when, in fact, QSC offered no such diversification and funneled victim funds solely into the Queen Shoals Ponzi scheme. Court records show that Martin routinely vouched for the success and reliability of Queen Shoals by claiming to have personally invested a significant amount of his own money into Queen Shoals when, in fact, Martin personally invested only $4,000.

    According to filed documents and today’s sentencing hearing, Martin engaged in money laundering transactions by utilizing the referral fees he received from Hanson to pay commissions to himself and the so-called QSC consultants. From in or about 2007 to in or about 2009, Martin received over $1.9 million in referral fees from Hanson and paid the consultants over $1.5 million during the relevant time period in return for inducing victims to invest in the Queen Shoals Ponzi scheme. These payments caused QSC consultants to induce additional victims to invest in the Queen Shoals Ponzi scheme, thereby perpetuating the scheme.

    In March 2011, Hanson, then 63, was sentenced to 22 years in federal prison.

  • UPDATE: Canada’s Ontario And Quebec Join Alberta In Issuing Warning On ‘ProfitableSunrise’; [UPDATE: British Columbia, Too]

    breakingnews72UPDATED 4:48 PM EDT (U.S.A.) British Columbia now also has issued a warning against Profitable Sunrise. See Comments thread below . . .

    First it was North Carolina in the United States. Alabama quickly followed.

    And the United Kingdom’s Financial Services Authority also issued a warning about the Profitable Sunrise “program.”

    Canada’s province of Alberta published a Profitable Sunrise warning yesterday. Ontario and Quebec followed today.

    Here is Ontario’s warning in its entirety (italics added):

    ___________________________________________________________

    OSC INVESTOR ALERT: Inter Reef Ltd., Roman Novak and Radoslav Novak (doing business as Profitable Sunrise)

    TORONTO – The Ontario Securities Commission (OSC) is warning Ontario investors not to invest with Profitable Sunrise, which claims to be located in the United Kingdom while representing that its banking facilities are in the Czech Republic. Profitable Sunrise is offering investors “investment plans”, but Profitable Sunrise is not registered in Ontario to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities.

    Profitable Sunrise is representing that its “investment plans” earn abnormal returns, “risk-free”, of 1.5 per cent – 2.7 per cent per business day, which translates into an annual return of over 300 per cent. On January 11, 2013, the OSC issued a warning to investors entitled “Beware: High-yield Investment Programs are Ponzi Schemes” that explains the risks of investing with companies like Profitable Sunrise. You can find the warning on the “OSC Investor News” section of the OSC’s website at www.osc.gov.on.ca.

    The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC’s investor materials available at www.osc.gov.on.ca.

    If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.

    ___________________________________________________________

    And here, through the Autorité des marchés financiers, is Quebec’s warning (italics added):

    March is Fraud Prevention Month – Caution to be used when solicited by Profitable Sunrise

    Tuesday, March 12, 2013

    Montréal – The Autorité des marchés financiers (the “AMF”) is warning Quebeckers about investment contracts offered by Inter Reef LTD, also known as Profitable Sunrise on the Internet, which purports to be a British company and is not authorized to carry on business in Québec.

    The North Carolina Department of the Secretary of State recently issued an order warning investors about offers published by Profitable Sunrise and its officer, Roman Novak, on the Internet. Investigators with the North Carolina Department of the Secretary of State say that Profitable Sunrise and its officer promoted five different investment plans through a website that offered rates of return ranging from 1.6% to 2.7% per business day. Investors were told their money would be used to fund short-term loans to businesses, “risk-free”.  Secretary of State investigators have also discovered that victims were asked to make wire transfers of money to financial institutions in Eastern European countries, including the Czech Republic.

    This week, the Alberta Securities Commission warned investors after it received reports from a Calgary-based banking institution that several of its customers have attempted to withdraw significant amounts of funds from their accounts for wire transfers to the Czech Republic.

    Although there is no proof that Quebeckers invested in the scheme, the AMF urges great caution in dealing with offers by Profitable Sunrise. No person or company named Roman Novak, Inter Reef LTD or Profitable Sunrise is registered with the AMF. Since they are not registered with the AMF, solicitations by Roman Novak, Inter Reef LTD and Profitable Sunrise of Québec investors could contravene the laws administered by the AMF.

    If you have responded to solicitations from Profitable Sunrise or any similar type of solicitation, please contact an officer at our Information Centre.

    Reminder to investors
    As part of Fraud Prevention Month, the AMF reminds consumers that it is important to ask questions (5 bonnes questions — in French only) before entrusting their savings to a person who solicits them, especially when promised a return that is too good to be true such as in this case.

    The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec’s financial sector.

     

  • BULLETIN: Purported ‘Sovereign Citizen’ Shot And Killed In Florida After Pointing Pistol At SWAT Team Members, Santa Rosa County Sheriff’s Office Says

    americaatrisk4BULLETIN: Jeffrey Allen Wright, a purported “sovereign citizen” wanted on arrest warrants for counterfeiting, was shot and killed March 8 after pointing a pistol at a Sheriff’s SWAT Team in Navarre, Fla., the Santa Rosa County Sheriff’s Office said.

    Wright, 55, had previous clashes with the Sheriff’s Office, the agency said.

    From a statement by the Sheriff’s Office (Italics added):

    The warrants for Wright’s arrest were for five counts of Counterfeiting, and five counts of Passing a Counterfeit Bill (both 3rd degree felonies). Wright has had confrontations in the past with the Sheriff’s Office, claiming that he is a “Sovereign Citizen” and denounced his United States Citizenship.

    Wright has also told the Sheriff’s Office that he does not acknowledge State Laws and that he doesn’t have to comply with law enforcement because their requests are “unlawful”. Due to Wright’s perception of law enforcement, numerous deputies went to his residence to facilitate the arrest. When Wright was encountered by deputies, Wright produced a black object from his pocket, appearing to be a firearm, and concealed it behind his back. Wright then fled into the garage area and went up the stairs to the second floor. Wright then began to barricade the stairway so that deputies could not approach.

    Wright then discharged a firearm one time. Wright made statements that he was “not a U.S. citizen, but a sovereign citizen, and that he would not be a servant of the king”. Wright also stated that if any deputies came up the stairwell, they would “not come back down”. Wright also stated that if deputies “if you ever want to see your families again, you will leave”.

    Deputies withdrew from the immediate area and called a SWAT Team and negotiators, the Sheriff’s Office said.

    “Wright refused to continue conversing with negotiators, and continued to state that deputies would have to ‘come up and get me,’” the agency said. “As the situation progressed, and due to Wright being armed, the SWAT team deployed gas into the second story of the garage. Wright was continuously given commands to come out, unarmed; however Wright would continue to yell ‘come and get me.’

    Matters then turned even worse, the agency said.

    “Wright then began to break out windows with a semi-automatic pistol,” the Sheriff’s Office said. “Wright then went to the top of the stairwell and began to remove the items he had used to barricade the entrance. Wright sat down at the top of the stairs, holding a handgun. While refusing to obey lawful commands to surrender, Wright raised the pistol and pointed it directly at SWAT team members at the bottom of the stairwell. Due to there being a great danger of being shot, three SWAT deputies simultaneously discharged their firearms at Wright.”

    The purported “sovereign” was pronounced dead at the scene.

    As is typical in officer-involved shootings, the three deputies have been placed on paid administrative leave, the agency said.

    The Florida Department of Law Enforcement (FDLE) is conducting an investigation, the sheriff’s office said.

  • BULLETIN: Alberta Securities Commission Issues Warning On ‘Profitable Sunrise’ After First Calgary Financial Observes ‘Trend’ Of ‘Suspicious’ Overseas Transactions

    breakingnews72BULLETIN: The Alberta Securities Commission (ASC) has issued a warning on the Profitable Sunrise “program.” The Canadian agency’s move followed on the heels of reports from First Calgary Financial that “several of its Calgary customers have attempted to withdraw significant amounts of funds from their accounts for wire transfers to the Czech Republic,” ASC said.

    “Albertans should be aware that Profitable Sunrise and its agents are not registered to sell securities in Alberta,” the agency said.

    ASC is Alberta’s securities regulator. The agency noted that the Securities Division of the North Carolina Secretary of State issued a cease-and-desist order to Profitable Sunrise last month, amid allegations that the “program” was selling unregistered securities.

    “It’s important for investors to know that there is no such thing as a high return, no risk investment,” said Bill Rice , chair and CEO of the ASC. “If you are persuaded to send money overseas, it may be difficult, if not impossible to get it back if something goes wrong.”

    The United Kingdom’s Financial Services Authority issued a warning on Profitable Sunrise last week. So did the Alabama Securities Commission in the United States.

    First Calgary is Canada’s ninth-largest credit union. A First Calgary executive said the company contacted ASC after observing unusual transactions.

    “Our front-line employees are trained to identify suspicious transactions by members so that we may be able to stop them from becoming the possible victims of an investment scam,” said Debbie Pratt, vice president of retail banking for First Calgary Financial.  “In this case, we noticed a trend and a quick call to the ASC allowed us to alert our members.”

    Profitable Sunrise lists a business address in the United Kingdom. Regardless, the enterprise is soliciting funds to be sent to Raiffeisenbank AS in the Czech Republic, according to North Carolina investigators. An entity known as Melland Company SRO was listed in Profitable Sunrise wiring instructions as the beneficiary, according to the North Carolina order.

    A credit union used by a North Carolina-based Profitable Sunrise investor blocked at least one transaction directed toward the Czech bank, citing suspicions of fraud, according to the order.

    Among other claims, Profitable Sunrise purported to offer a “Long Haul” plan that paid 2.7 percent a week with an Easter payout. The Profitable Sunrise “program” is being pitched on well-known Ponzi scheme forums such as TalkGold and MoneyMakerGroup.

    Zeek Rewards, which the SEC in August 2012 called a $600 million Ponzi- and pyramid scheme, was promoted in part from the same forums. Some individuals have promoted both Zeek and Profitable Sunrise.

     

  • BULLETIN: Britain’s Financial Services Authority (FSA) Puts ‘Profitable Sunrise’ On Warning List Of ‘Unauthorised Firms And Individuals’

    Source: FSA website. Red highlight by PP Blog.
    Source: FSA website. Red highlight by PP Blog.

    BULLETIN: The Financial Services Authority (FSA) of the United Kingdom has placed the Profitable Sunrise “program” on a warning list of “unauthorised firms and individuals.”

    Profitable Sunrise also is under scrutiny by American regulators in North Carolina and Alabama. The HYIP “program” purportedly is operated by Roman Novak.

    Separately, the New Zealand Herald is reporting that New Zealand’s Financial Markets Authority “says it is also looking into the activities of the website.”

    Like “programs” such as Zeek Rewards, Legisi, AdSurfDaily and others, Profitable Sunrise is being promoted on well-known Ponzi scheme forums such as TalkGold and MoneyMakerGroup.

    Zeek, Legisi and ASD scammed a combined sum of at least $791 million, according to court filings in the United States.

     

  • DEVELOPING STORY: Pipe Bombs Reportedly Found In Pennsylvania Storage Unit Rented In Name Of Man Arrested In Ponzi Scheme Case

    americaatrisk4DEVELOPING STORY: It is early and facts remain unclear. What’s known, according to local news reports, is that the FBI notified local police in the area of Chester County in southeastern Pennsylvania that agents would be operating in the region.

    Late yesterday  — sometime after 11 p.m. while some residents were sleeping — explosions were heard in the area of Valley Creek Park. The explosions appear to have been controlled detonations by law enforcement, which earlier had found dozens of pipe bombs in a storage unit near the town of Malvern. Members of bomb squads were seen in the area.

    The storage unit was rented in the name of Istvan Merchenthaler, an accused Ponzi schemer.

    From Malvern Patch (italics added):

    Around 8:30 p.m., bomb squads from Montgomery County and Philadelphia began hauling the explosives from the storage facility to nearby Valley Creek Park. The explosives were transported inside large metal containers on trailers, and each trip involved a convoy of fire engines, ambulances and police vehicles.

    From Chester County Daily Local News (italics added):

    The source, who asked to remain anonymous due to the ongoing and sensitive nature of the investigation, said that the storage locker was registered to 42-year-old Istvan [Merchenthaler], a Chester County man facing federal charges in connection to a Ponzi scheme that officials say defrauded investors of about $2 million over the past seven years.

    Officials close to [Merchenthaler]’s case said the suspect was connected to similar explosive investigations in other states, and added that he is facing charges in multiple jurisdictions throughout the east coast.

  • MAXIMUM IRONY? Man Tells British Newspaper That He Used Prepaid Mastercard From Banners Broker At ATM — And Received Counterfeit £20 Note

    recommendedreading1UPDATED AT 10:40 A.M. ET (U.S.A.) A member of the “Banners Broker” program tells The Bristol Post that he used a prepaid Banners Broker MasterCard at a NatWest ATM to withdraw £600 and that a counterfeit £20 note was in the stack of cash dispensed by the machine.

    The plan, Paul Scoplin reportedly told the paper, was to withdraw the cash at NatWest and then to deposit it into an HSBC account — but the plan didn’t go swimmingly.

    “I took the cash over to HSBC straight away and they flagged up one of the notes,” he reportedly told the paper.

    NatWest is investigating the note, according to The Post.

    Banners Broker is a “program” that gained a head of steam in part from ceaseless promotions on Ponzi-scheme boards such as TalkGold and MoneyMakerGroup. Members are complaining about not getting paid and suggesting that Banners Broker is making selective payouts to sustain a fraud scheme.

    Whether Scoplin’s reported claim that counterfeit currency somehow made its way into a NatWest machine would result in additional scrutiny of the Banners Broker “program” was not immediately clear.

    In June 2012, the PP Blog reported that a site purportedly selling “customers” to members of the Zeek Rewards “program” also was pushing traffic to Banners Broker and JSS Tripler/JustBeenPaid, the bizarre, 730-percent-a-year “program” purportedly operated by Frederick Mann.

    JSS/JBP may have ties to the “sovereign citizens” movement.

    In August 2012, the SEC described Zeek as a $600 million Ponzi- and pyramid scheme operating online. JSS/JBP then morphed into a “program” known as “ProfitClicking,” amid reports of the sudden retirement of Mann. But now Mann, a former pitchman for the AdSurfDaily online Ponzi scheme, is back — this time as a pitchman for a “program” known as “ClickPaid.”

    When Mann spoke during a recent ClickPaid conference call, the VOX identifier displayed the name “J. J. Ulrich” when Mann was speaking. Ulrich was associated with ProfitClicking, which has led to questions about whether Mann and Ulrich simply were extending an online fraud that started with JSS/JBP.

    The presence of the various “programs” on forums linked to Ponzi schemes has led to questions about whether banks and payment processors are coming into possession of funds tainted by fraud. The “programs” are known to have promoters in common.

  • SALT LAKE TRIBUNE: Alleged Utah Fraudster Jeremy Johnson, 4 Others Indicted On Dozens Of Criminal Charges

    RECOMMENDED READING: From the Salt Lake Tribune:

    http://www.sltrib.com/sltrib/money/55960572-79/johnson-works-attorney-swallow.html.csp

    Also see Deseret News story and AP report in the San Francisco Chronicle.