Category: Alleged Ponzi Schemes
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Zeek Figure Darryle Douglas ‘Subject Of Ongoing Investigation’ By U.S. Marshals Service
Darryle Douglas, the alleged Zeek Rewards’ insider whose arrest was ordered last month, is still wanted by the U.S. Marshals Service. “He is the subject of an ongoing investigation,” a spokesman for the Marshals Service in the Western District of North Carolina told the PP Blog moments ago. “We’re trying to locate him.” The spokesman declined to…
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In Argument Over ‘Nutritional Product Pyramid Scheme,’ Indiana Man Allegedly Choked Woman And Threatened Her With Knife
EDITOR’S NOTE: It didn’t take long last year for MLM to get some bad press, with India’s Central Bank issuing a caution on Jan. 1. The trade also got some bad publicity very early this year. A 44-year-old Indiana man was jailed last week after choking a woman and threatening her with a knife as her…
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URGENT >> BULLETIN >> MOVING: TelexFree Figure Sann Rodrigues Found In Contempt Of Court
(4th Update 7:23 p.m. ET U.S.A.) TelexFree, IFreeX and DFRF Enterprises’ figure Sann Rodrigues has been found in contempt of court in the SEC’s Ponzi- and pyramid case against TelexFree and a federal judge in Massachusetts has threatened to jail him. The SEC alleged Rodrigues, a recidivist securities offender, violated an asset freeze imposed in 2014.…
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An Incredibly Toxic Series Of HYIP Swindles — Everything From Bitcoin-Themed Scams To Purported Real-Estate Ventures That Claim To Aid Victims Of Terrorism
Bitcoinest.net, a site that covers cryptocurrency news, reported today that “DoubleCloud.pw Is Another Bitcoin HYIP Ponzi Scheme.” The “pw” extension stands for Palau, an island country in the Western Pacific. But the extension has been rebranded as “Professional Web,” according to Wikipedia. The user-created encyclopedia says Symantec, the security company, reported in 2013 a lot of…
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BULLETIN: ‘TeamVinh,’ A Ponzi-Board ‘Program,’ Charged By SEC
BULLETIN: (8th Update 3:34 p.m. ET U.SA.) The SEC has gone to federal court in Minnesota, alleging that an enterprise known as “TeamVinh” that pushed something called “VPAKs” was operating a securities-fraud scheme targeted at MLMers. TeamVinh, which allegedly recruited more than 5,600 participants, has a presence on the Ponzi boards, including MoneyMakerGroup and TalkGold. Recent chatter suggests the…
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URGENT >> BULLETIN >> MOVING: Judge Orders U.S. Marshals To Arrest Zeek Figure Darryle Douglas
URGENT >> BULLETIN >> MOVING: (3rd Update 6:25 p.m. ET U.S..) Senior U.S. District Judge Graham C. Mullen of the Western District of North Carolina has ordered the U.S. Marshals Service to arrest alleged Zeek Rewards’ insider Darryle Douglas for civil contempt of court. The order was issued yesterday and included a directive for marshals to execute an…
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Watch The Trailer For ‘Madoff’ And Think About How You Could Have Avoided Schemes Such As Zeek And TelexFree
ABC has made available the first trailer for “Madoff,” a network miniseries debuting Feb. 3, 2016. Richard Dreyfuss plays the notorious Ponzi schemer, with Blythe Danner starring as Ruth Madoff. Bernard Madoff’s name first appeared on the PP Blog nearly seven years ago, on Dec. 13, 2008. It has appeared numerous times since then. Says…
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URGENT >> BULLETIN >> MOVING: SEC Charges Alleged Zeek Promoter Trudy Gilmond
URGENT >> BULLETIN >> MOVING: (5th Update 9:15 p.m. ET U.S.A.) The SEC has gone to federal court in the Western District of North Carolina and charged Zeek Rewards’ figure Trudy Gilmond with securities fraud, selling unregistered securities and failure to register as a broker-dealer. Among the allegations: Gilmond knew Zeek was under investigation in 2012…
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Listen To Famed Attorney Jan Schlichtmann Talk About TelexFree Class Action
Jan Schlichtmann is famous in legal circles. If you’ve never heard of him, perhaps you’ve heard of the actor who played him on the big screen: John Travolta. The film title was “A Civil Action,” with Travolta starring alongside Robert Duvall. The movie was based on the best-selling novel by Jonathan Harr. Schlichtmann has led a…