Category: Alleged Ponzi Schemes
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BOSTON GLOBE: 60,000 TelexFree Victims In South Africa Alone, Lawyer Tells Trustee; 2 Million Across The World, 1.3 BILLION Customer Transactions
Meet the man tasked with paying out claims to victims of the alleged TelexFree scam. http://t.co/pzwszb8ky0 pic.twitter.com/7tkqlh8mRD — The Boston Globe (@BostonGlobe) December 16, 2014 The Boston Globe is reporting today that TelexFree bankruptcy trustee Stephen Darr has been told that 60,000 victims of the alleged MLM Ponzi- and pyramid scheme exist in South Africa…
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BULLETIN: Judge Freezes Property Owned By Mother Of WCM777 Ponzi Figure Ming Xu
BULLETIN: A federal judge has frozen real estate in California owned by the mother of accused WCM777 MLM Ponzi schemer Ming Xu. U.S. District Judge John F. Walter of the Central District of California took the action today after court-appointed receiver Krista. L. Freitag alleged Friday that the $730,000 used to purchase the San Gabriel…
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FEDS: Liberty Reserve Figure Mark Marmilev Shilled On TalkGold Ponzi Forum And Also Hired Shills To Do So; Memo Speaks To Vast Wasteland Of Online Criminality
Mark Marmilev, the technology specialist for the cross-border Liberty Reserve money-laundering operation favored by HYIP scammers and other criminals before its May 2013 collapse, shilled on the TalkGold Ponzi forum, U.S. federal prosecutors said in a sentencing memo. Marmilev, 35, of Brooklyn, N.Y., also hired forum shills and separately tried to hatch an SEO scheme…
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URGENT >> BULLETIN >> MOVING: Court Denies Zeek Winners’ Motions To Dismiss Clawback Actions, Upholds Jurisdiction
URGENT >> BULLETIN >> MOVING: (3rd Update 10:03 a.m. ET Dec. 10 U.S.A.) The federal judge presiding over clawback cases against alleged Zeek Rewards “winners” has dismissed jurisdictional challenges and a claim by the winners that Zeek was not selling securities under the Howey Test. The rulings mean that clawback claims seeking millions of dollars…
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URGENT >> BULLETIN >> MOVING: eAdGear Figures Indicted In California On Conspiracy Charge Of Structuring Transactions To Evade Bank-Reporting Requirements
4TH UPDATE 3:44 P.M. ET U.S.A. Before the SEC announced its civil pyramid- and Ponzi-scheme case on Sept. 26 against eAdGear figures Charles Wang and Francis Yuen, the pair had been indicted on a criminal charge in U.S. District Court for the Northern District of California, the PP Blog has learned. Docket records show the…
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UPDATE: Bromide-Fest, Ripped Music Soundtrack From ‘Celtic Woman’ Mark Apparent Return Of ‘The Achieve Community’
“The Achieve Community” money-cycler train wreck has announced it’s back on the rails (sort of) and will relaunch today (sort of), after losing its payment processor last month. The asserted relaunch is occurring on the heels of multiple warnings from regulators about scams spreading on social media. It’s also occurring against the backdrop of allegations…
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BULLETIN: Italian Securities Regulator CONSOB Issues Warning On ‘TureProfit,’ HYIP That Claims It Accepts Sums From $10 to $500,000
BULLETIN: CONSOB, the Italian securities regulator, has issued a warning and suspended the trading of an HYIP “program” known as TureProfit that appears to be operating as both a macro- and a microscam while using the name of Bitcoin. On its English website in a prompt dated Aug. 17, 2014, TureProfit purports it has “gained…
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Women’s ‘Gifting Circle’ Participants Risk Felony Prosecution; ‘Stop Immediately’ And Pay Back Money, Idaho Attorney General Warns
The successful felony prosecutions under federal law of two Connecticut women in a cash-gifting scam apparently hasn’t registered in Idaho. Now, the state’s attorney general, citing the Connecticut prosecutions that led to lengthy prison sentences, is taking action. And he’s not mincing words. “Taking part in an unlawful pyramid scheme violates the Idaho Consumer Protection…
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Full Statement From Zeek Receiver On New Information Available Through Claims Portal
EDITOR’S NOTE: Zeek Rewards receiver Kenneth D. Bell has issued the statement reproduced below. It is dated Nov. 25, 2014. Source: Zeek Rewards Receivership Website. ** ________________________________ ** ANNOUNCEMENT FROM THE RECEIVER – November 25, 2014 Today, new features were added to the claim status portal in response to issues that have arisen in the…