Category: Alleged Ponzi Schemes
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PRICELESS: AdViewGlobal Announces Wire Deal With Offshore Bank On Day White House And Treasury Department Announce Plan To Crackdown On Offshore Tax Havens
UPDATED 12:43 P.M. EDT (May 7, U.S.A.) As often is the case in the tin-eared autosurf world, the timing was impeccable: On the day the Obama administration announced a crackdown on U.S. corporations and citizens who use offshore tax havens to hide income, autosurf company AdViewGlobal (AVG) announced it had a deal with an offshore…
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Purported Transcript: Bowdoin Pushed ASD ‘Stock’ In 2007; Other Records Show Bowdoin Gave Campaign Donations In Names Of Two Firms
UPDATED 2:26 P.M. EDT (U.S.A.) A purported transcript of remarks in March 2007 by AdSurfDaily President Andy Bowdoin paints a picture of a startup company with serious problems Bowdoin tried to solve by offering “stock” in the firm. The “minimum purchase” of the stock was set at “$10,000,” and the the money would be used…
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AdSurfDaily: Revisiting Our Early Coverage
It is the story that won’t go away, driven as much by the personalities and people who support AdSurfDaily as it is by the legal issues that put the company in the national spotlight. On Aug. 1, 2008, an ambiguous note appeared on ASD’s website. The note suggested a government investigation was under way. In…
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Plaintiffs, Bank of America Ask Judge For More Time; Golden Panda’s Clarence Busby Updates Motion To Dismiss
UPDATED 5:28 P.M. EDT (U.S.A.) Attorneys for three plaintiffs who accused ASD President Andy Bowdoin, ASD attorney Robert Garner and Golden Panda Ad Builder President Clarence Busby of racketeering have asked a federal judge for more time to prepare. The plaintiffs were joined in the motion by Bank of America, a non-RICO defendant in the…
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DISCUSSION: SEC: HYIP Defendant ‘Absconded’
Editor’s Note: This thread is designed to promote discussion on the practical value of the “rebates aren’t guaranteed” argument as applied by AdSurfDaily and other autosurfs. Does the argument hold any water? And could it be applied — and have a prayer of succeeding — in other situations in which federal agencies brought allegations of…
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Iowa Woman Who Filed Motion To Set Aside Forfeiture In ASD Case Is Listed As A ‘Founder’ Of Golden Panda Ad Builder
UPDATED 9:10 P.M. EDT (U.S.A.) Joyce Haws, an Iowa woman who filed a motion last week to set aside the forfeiture in the AdSurfDaily case, is listed in court documents as a “founder” of Golden Panda Ad Builder. Haws and “her spouse” are listed on a roster of 34 Golden Panda “founders” who provided start-up…
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BREAKING NEWS: Another Motion To Set Aside Forfeiture Using Curtis Richmond Blueprint Filed In AdSurfDaily Case
UPDATED 8:07 P.M. EDT (U.S.A.) Chad Svendsen of Lakeville, Minn., has filed a motion to set aside the forfeiture in the AdSurfDaily case. Svendsen’s motion uses the Curtis Richmond litigation blueprint and is virtually identical to other recent pro se motions filed in the case. Richmond is a member of a sham Utah “Indian” tribe…
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BREAKING NEWS: Busby Served With RICO Complaint; Attorney Files Motion To Dismiss Racketeering Claims
UPDATED 1:11 P.M. EDT (U.S.A.) Golden Panda Ad Builder President Clarence Busby has been served with a racketeering lawsuit pending since Jan. 15. His attorney has filed a motion to dismiss him as a defendant, referring to him at least 120 times in the 46-page document as “Rev. Busby” and saying he has been a…
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RICO Lawsuit Against Bowdoin, Busby, Garner Makes Veiled Reference To ’80-20′ Rule; Signals That ‘Surf’ Promoters Run Risk Of Being Named Defendants In Racketeering Actions
A racketeering lawsuit against ASD President Andy Bowdoin, ASD attorney Robert Garner and Golden Panda Ad Builder President Clarence Busby makes a veiled reference to what autosurf participants refer to as the “80-20” rule. The reference signals that both private litigants and the government are wise to methods autosurf promoters use to stem the outflow…
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BREAKING NEWS: Plaintiffs In RICO Action Say AdSurfDaily Hired Bank Of America Employees, Paid Them More Than Others Doing The Same Work; Accuse Bank Of Turning A Blind Eye To Ponzi Scheme Involving Tens Of Millions Of Dollars
Lawyers for three plaintiffs who accuse AdSurfDaily President Andy Bowdoin, ASD attorney Robert Garner and Golden Panda Ad Builder President Clarence Busby of racketeering have filed an amended complaint that accuses Bank of America of turning a blind eye to a Ponzi scheme. Bank of America is not named a RICO defendant in the amended…
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AVG Forum Warns Members Not To Call Purchases An ‘Investment’; Posts Citing ‘Return’ Or ‘ROI’ Will Be Deleted
UPDATED 5:44 P.M. EDT (U.S.A.) A Mod at an AdViewGlobal forum set up by Mods and members of AdSurfDaily has warned AVG members not to refer to their purchases as “investments.” Rather, the Mod said, AVG members purchase “advertising” and are not “investing” or “investors.” Posts that used the terminology of investments would be deleted,…