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Category: Alleged Ponzi Schemes

BULLETIN: FLORIDA — AGAIN: CFTC Says Man With 3 Aliases Ripped Off Church Members And Prayer-Group Attendees In Forex Ponzi Scheme And Then Moved To Canada

BULLETIN: The CFTC has gone to federal court in the Southern District of Florida, alleging that a former Miami man who conducted prayer services in his home ripped off church members, friends, neighbors and others in a Forex Ponzi scheme. Some investors bought into the scheme with cash payments that totaled in the hundreds of…

Jun 24, 2011
UNCONFIRMED: Club Asteria Suspends Member Cashouts; If Ponzi Forum Reports On Payout Halt Are True, Then Decision Was Made Virtually 2 Years To The Day After AdViewGlobal Autosurf Collapsed

A Virginia-based company that trades on the name of the World Bank and claims to help lift some of the poorest people on earth out of poverty by involving them in an income and MLM-like recruitment scheme has suspended member cashouts, according to posts on Ponzi scheme and criminals’ forums. If the news about Club…

Jun 24, 2011
FLORIDA — AGAIN: Miami Attorney Awaiting Sentencing In Ponzi Scheme Charged With Stealing From Employee Benefit Plan

A Miami attorney awaiting sentencing in a Ponzi scheme case now has been accused of stealing from an employee benefit plan, federal prosecutors in the Southern District of Florida said. Lorn Leitman, 61, was charged with stealing from the South Florida Emergency Physicians P.A. Profit Sharing Plan. He faces up to 20 years in federal…

Jun 22, 2011
BULLETIN: Christopher Pettengill Pleads Guilty In Trevor Cook Ponzi Scheme

BULLETIN: Christopher Pettengill, a figure in the $194 million Trevor Cook Ponzi scheme, has pleaded guilty in Minneapolis to securities fraud, money-laundering and conspiracy, the FBI said. Read Breaking News coverage in the Star Tribune, which is reporting that Pettengill says he has been cooperating with federal investigators since January. Pettengill, 54, of Plymouth, Minn.,…

Jun 21, 2011
EDITORIAL: The AdSurfDaily Solution: Form ‘Andy’s Army,’ Target The Government With $50 ‘Rocks,’ Stone ‘Goliath’ With Cash From ASD Members And ‘Other Freedom Fighters Across America,’ Provide Bowdoin’s Lawyers ‘Massive Funds’ To Defeat ‘Giant Common Enemy’

Two weeks after a purported “sovereign citizen” allegedly opened fire with an AK-47 on a Pensacola seafood store because it was out of crawfish, Floridians may be confronting yet-another bizarre and disturbing drama. Indeed, members of Quincy-based AdSurfDaily appear to be circulating an email call to raise defense funds for ASD President Andy Bowdoin, accused…

Jun 16, 2011
BULLETIN: R.J. Zayed, Court-Appointed Receiver In Trevor Cook Ponzi, Recovers More Than $1.1 Million In Switzerland

BULLETIN: The court-appointed receiver in the Trevor Cook Ponzi scheme has recovered more than $1.1 million that had been tied up in Switzerland. Receiver R.J. Zayed says that $1,127,495 has been deposited in a U.S. Court account. “[T]he Receiver has now accomplished the goal of repatriating the Swiss funds so that money can be returned…

Jun 16, 2011
Second Man With Trevor Cook Tie Charged Criminally In Massive Minnesota Ponzi Scheme; Christopher Pettengill Faces Securities-Fraud, Conspiracy And Money-Laundering Accusations

A Minnesota man has become the second person with ties to convicted Ponzi schemer Trevor Cook’s Forex scam to be charged criminally. Christopher Pettengill, 54, of Plymouth, “knowingly concealed information from investors concerning the foreign currency program sold by Pettengill, Cook, and others,” federal prosecutors said. He has been charged with securities fraud, money-laundering and…

Jun 14, 2011
PART 2: PROSECUTION BOMBSHELL(S): Operators And ‘Insiders’ Received ‘Millions Of Dollars’ From ASD; Bowdoin Changed Subject When Told What He Was Doing Was ‘Not Mathematically Possible’; Government Targeted ASD Money In Iowa Bank Accounts

EDITOR’S NOTE: See Part One here. UPDATED 1:46 P.M. EDT (U.S.A.) AdSurfDaily “paid out millions of dollars to operators and insiders,” according to a U.S. Secret Service affidavit originally filed under seal in February 2009. But ASD President Andy Bowdoin changed the subject when people told him that what Florida-based ASD was doing not only…

Jun 12, 2011
PROSECUTION BOMBSHELL(S): ASD Had ‘Special’ Class Of Members; Bowdoin’s ‘Silent Partner’ Was His 12DailyPro Sponsor; ‘North Carolina Lawyer’ (And Co-Owner) Of LaFuente Dinero Told Bowdoin U.S.-Based Attorneys Would Be His Business Partners In ‘Offshore’ Surf; Employees Caught ‘Minister’ Stealing From ASD Before He Launched Golden Panda Ad Builder

EDITOR’S NOTE: First of two parts. Part Two will be published later tonight or tomorrow. Even as AdSurfDaily President Andy Bowdoin was venturing to Washington in June 2008 to receive what his members and prospects were told was the “Medal of Distinction” from the President of the United States, he was harboring terrible secrets and…

Jun 11, 2011
Government Has Andy Bowdoin’s Handwritten Notes And Other Devastating Evidence Against AdSurfDaily — Report Coming Soon . . .

NOTE TO READERS: Some of the evidence federal prosecutors have in the Ponzi scheme case against AdSurfDaily President Andy Bowdoin is coming into clearer focus. The PP Blog expects to publish a report within the next couple of hours. Our report is based on an affidavit originally filed under seal by the U.S. Secret Service…

Jun 11, 2011
BULLETIN: Part Of Bo Beckman Fraud Case Devolves Into AdSurfDaily-Like Sideshow; Beckman Filing ‘Bizarre’ Pro Se Claims That Are Hindering Victims From Recovering Assets And Adding Litigation Costs, Receiver Says

BULLETIN: In 2009, federal prosecutors warned that pro se pleadings by members of Florida-based AdSurfDaily had the potential to slow efforts to provide restitution for victims of the ASD Ponzi scheme. Pro se filings by ASD President Andy Bowdoin and dozens of ASD members crowded the court docket for months and delayed the implementation of…

Jun 9, 2011